What's that, FedEx profits were slashed in half because of the slow economy and less consumer spending? These kinds of losses are only supposed to happen to big inefficient government bureaucracies like the Post Office.
As we all know, from the constant reminders by Republicans, the postal service is inefficient and should downsize its bloated bureaucracy. If only they could "vigilantly" cut costs...
(AP) -- FedEx Corp. said Thursday its first-quarter earnings fell 53 percent -- matching its prediction released last week -- and warned its profit will remain weak through at least the end of the year. The Memphis, Tenn.-based company reported earnings of $181 million, or 58 cents per share, compared with $384 million, or $1.23 per share, a year ago.
The company said its sales are continuing to be hurt by the slow economy, as people ship slower and less often. But FedEx said it was able to offset some of the shortfall by ''vigilantly'' cutting costs.
So the Republicans refuse to make the changes they complain make the Postal Service an inefficient government run entity that should run more like the "vigilant cost cutter" FedEx. It's nice to have it both ways, isn't it?
Milwaukee Journal: As the U.S. Postal Service searches for $2 billion in spending cuts, residents in several Wisconsin communities are objecting to changes at their postoffices. Consolidation of mail carriers in Oconomowoc, West Bend, Oak Creek and elsewhere has stirred complaints that mail is being delivered late and that residents feel neglected.
Some have found a sympathetic ear in an influential place: their (Republican) congressman. U.S. Reps. Jim Sensenbrenner and Paul Ryan both have intervened successfully on behalf of constituents who were unhappy with planned belt-tightening measures at their post office. In both cases, the Postal Service shelved its plans and re-examined its cost-cutting strategies.
Sensenbrenner, a Republican from Menomonee Falls, said that while he does not have an alternative plan for trimming costs, he found the cuts being imposed in southeastern Wisconsin to be too disruptive to customers.
The most surreal part of this story is this comment from Rep. Sensenbrenner (I hope you're sitting down),
"You've got to remind the Postal Service repeatedly that their last name is service," he said.A Republican putting service over profits, and reminding us of it? Perhaps they should consider this name change: The Grand Old Party of Convenience.