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Fox News
a day ago
- Business
- Fox News
The 78 cent opinion: Why stamp prices surge while mail volume plummets
If you wanted to send me a letter via mail with your opinion about this column, it would cost you 78 cents. Let that sink in. That's the current price of a forever stamp in America – yes, the same ones that cost 39 cents in 2006. That's a 100% increase in less than two decades. In just the last five years, stamp prices have jumped from 55 cents to 66, then 68, then 73, 76, and now 78 cents. That is an 8% per annum inflation rate on stamps since 2020. The U.S. Postal Service (USPS) is raising prices so often, it's starting to feel like you're trying to ship your letter via Space X to Mars, not to your grandmother in Des Moines. And still, somehow, they're losing money, the one thing government is great at. Let's unpack this. According to USPS financial statements, the agency posted a net loss of $6.5 billion in 2023. Yes, billion – with a "B." This comes after price hikes on stamps, shipping and package delivery services. And the kicker? Mail volume continues to plummet. First-class mail has dropped more than 50% since 2001. It's not hard to see why. When everything from paying bills to saying "Happy Birthday" can be done with the tap of a phone screen, why would anyone fork over nearly a buck to lick a stamp? Here's the brutal truth: the U.S. Postal Service is a 247-year-old relic, clinging to a 20th-century business model in a 21st-century digital economy. It's like Blockbuster trying to survive in the age of Netflix. And who pays the price? You do. I do. Every American taxpayer does. And every business owner trying to ship a product or communicate with customers. Have you seen the cost of an overnight UPS or FedEx package as of late? And it's not just stamps. USPS lost $94 billion between 2007 and 2020. The agency carries more than $188 billion in liabilities and unfunded obligations. Meanwhile, private carriers like FedEx and UPS are thriving, innovating and investing in automation while USPS remains bloated, bureaucratic and bogged down by outdated infrastructure and a labor force that's nearly impossible to reform due to union pressure and congressional meddling. Some will say, "But, Ted, the Postal Service provides a vital public good. It connects rural America. It delivers medications. It ensures equity." I don't disagree with the mission. But can we at least agree that any business – public or private – that loses billions of dollars every year and still raises prices for lower service should be held accountable? Here's where it gets even more ridiculous. While USPS has been hemorrhaging money and shedding mail volume, it's also spending millions on failed pilot programs like banking services, Sunday deliveries that no one asked for, and electric vehicles that sound great in a press release but cost taxpayers far more than the savings they'll ever bring. The postmaster general has already warned that more price hikes are coming. So maybe it'll be $1 to mail a letter by next year. But I'll ask you again: is your opinion worth 78 cents? In the age of social media, you can tweet me, post on my LinkedIn page or leave a comment below – instantly, freely and from anywhere. Yet the very government that promised to provide "universal service" at low cost is now charging more for a worse product. And they still expect a round of applause. Recently, it took 10 days for a birthday card to get to my own mother. This isn't just about stamps. It's about government waste. It's about poor planning. It's about politicians kicking the can down the road for decades, refusing to modernize, streamline or privatize when necessary. And it's about us, the American people, being asked to pay more for less – and being told to be grateful for it. So, if you feel strongly about what I wrote, I dare you: write me a letter. Stick a stamp on it. Mail it to my office. But before you drop it in the blue box, just ask yourself: Is your opinion worth 78 cents? Because that's what it costs to be heard in today's America if you want to send your two cents via USPS.


New York Post
4 days ago
- Business
- New York Post
This coastal gem is America's hottest's ZIP code
The U.S. housing market has faced severe headwinds this year, driven by waning affordability and shifting buyer preferences—but one picturesque coastal community is defying the trend, with homes there selling fast. A newcomer to the annual Hottest ZIP Codes in the U.S. is 01915, in Beverly, MA. Advertisement Beverly is located a little over 20 miles northeast of Boston, along the Atlantic coast. Home to more than 43,000 residents, Beverly offers an appealing combination of relative affordability, small-town charm, and easy proximity to a bustling economic hub. The hottest ZIP code rankings from take into account two aspects of the housing market: market demand, as measured by unique viewers per property on the website, and the pace of the market as measured by the number of days a listing remains active. The hottest areas are those that have the most unique viewers per listed property and fast-selling homes—a sign of limited supply. This year, the off-the-radar town emerged as the nation's most desirable housing market. Here is everything you need to know about what makes Beverly a top destination for savvy homebuyers. Beverly offers quality of life and job opportunities Advertisement 4 A newcomer to the annual Hottest ZIP Codes in the U.S. is 01915, in Beverly, MA. Wangkun Jia – Located within the greater Boston metro area, Beverly combines laid-back coastal living with relative affordability, attracting buyers looking to balance quality of life with easy access to well-paying jobs in the big city. Despite its small size, Beverly is home to major employers, including CVS Health, the U.S. Postal Service, and DoorDash. Additionally, the Cummings Center, a thriving mixed-use development in Beverly, houses about 600 different businesses, among them AllClear Healthcare and Aetna Medicare Solutions. Advertisement With its commuter rail station offering direct trains to Boston, Beverly represents an attractive option for city workers seeking small-town charm and urban convenience. 'Beverly is a great city to live in,' Adeline Matton, a real estate agent and broker with Aluxety Realty, tells 'First of all, it's so scenic. It's an oceanside city. We have the harbor, we have yacht clubs, beautiful beaches, beautiful parks, beautiful greenery, and downtown is thriving.' Matton, who lived in Beverly for 25 years and raised her family there, says it is no surprise to her that more people are drawn to the area. 'It really has so much to offer, and it's not surprising that it would make the top ZIP,' the veteran agent notes. Beverly homes are in high demand Advertisement 4 Despite its small size, Beverly is home to major employers, including CVS Health, the U.S. Postal Service, and DoorDash. Wangkun Jia – For-sale homes in Beverly waited for a buyer just 16 days in June, received nearly five times more listing views on than the national average between January and June 2025, and sold for a median price that, though elevated, was still a downright bargain compared with Boston and some of its other suburbs. Notably, the typical home in the U.S. in June 2025 lingered on the market for 53 days—more than three times longer than in Beverly. This underscores the persistent inventory shortages across the Northeast, where buyer demand routinely outstrips supply. Perhaps unsurprisingly, more than 62% of views directed at listings in Beverly came from within the Boston metro. When looking at out-of-market interest, New York City dominated, with Big Apple buyers accounting for more than 11% of Beverly's listing traffic. 'These shoppers are increasingly seeking out ZIPs with better value just outside of expensive urban cores,' says Chief Economist Danielle Hale. What's the price of a home in Beverly? 4 Notably, the typical home in the U.S. in June 2025 lingered on the market for 53 days—more than three times longer than in Beverly. Wangkun Jia – Advertisement As of June, the median list price in Beverly climbed to $719,000, nearly $280,000 higher than the national median for the month. The average price in Beverly from January through June was $746,000. But at the same time, the typical home in Beverly remained roughly 18% below the Boston metro average, which came in at $855,000 in June, landing Beantown among the five most expensive metros in the country. This year's hottest ZIP codes, led by Beverly, tell a broader story about how homebuyers are adapting to stubbornly high mortgage rates and affordability challenges, according to Hale. What the latest ranking shows, according to the chief economist, is that buyers are increasingly focusing on relative value, not just low price tags. This explains why they are drawn to ZIP codes where properties are priced below local metro medians, even if above the national norm. Advertisement 'These locations represent a sweet spot for shoppers who want suburban amenities and proximity to jobs without paying top-tier metro premiums,' adds Hale. Matton, the real estate agent, points out that Beverly's slightly greater distance from Boston, compared with pricier suburbs like Newton, Arlington, and Watertown, helps keep the local housing market more affordable. 'Beverly, being a little bit outside of the city, a little bit farther north … does have lower prices than a lot of those cities,' she says. 'We are seeing a lot of people maybe selling a smaller house in one of those suburbs and heading north to Beverly.' According to the latest available data, the median list price per square foot in Beverly was nearly 3% lower than in Boston. In other words, buyers in the suburban city could purchase a bigger home for less money. What else makes Beverly stand out? Advertisement 4 As of June, the median list price in Beverly climbed to $719,000, nearly $280,000 higher than the national median for the month. Wangkun Jia – Named after a city in England, Beverly was first settled in 1626 and was initially part of Salem. In the mid-17th century, it was incorporated as its own town in the Massachusetts Bay Colony. Beverly is recognized as the 'Birthplace of the American Navy,' having been the base of the Continental Navy's first warship, the schooner Hannah, which was commissioned by President George Washington. Beverly's other claim to historic fame is that the first cotton mill in the U.S. was built there in the late 1780s. Washington visited the site two years later and came away impressed with the technology. Advertisement Some top Beverly landmarks include the historic Cabot Theatre, the John Cabot House, and Lynch Park. These days, Beverly offers residents a mix of livability, more space, and greater affordability relative to Boston. Matton says Beverly appeals to buyers with its numerous amenities, including a highly rated school system, standout sports programs, and a wide array of shops and restaurants. 'The market's always been strong there, and it's continued to grow,' she adds. 'The city offers so much to people moving in there.'
Yahoo
30-07-2025
- Business
- Yahoo
UPS posts tepid results amid tariff, restructuring challenges
UPS package volume and earnings declined in the second quarter as the phased contraction in Amazon business gained momentum. Results were also impacted by the escalation in international tariffs, cautious consumer sentiment and missed savings targets from streamlining network operations. Average daily domestic package volume at UPS (NYSE: UPS) during the second quarter fell 7.3%, primarily due to the move away from low-margin business, like Amazon delivery, which helped drag down revenue 2.7% to $21.2 billion, the company announced on Tuesday. Adjusted operating income of $1.9 billion was down 9.1% year over year, with adjusted earnings per share of $1.55 down 13.4%. Revenue and earnings per share came in slightly ahead of Wall Street expectations, but the stock was down 10% in late-afternoon trading in apparent reaction to a cloudy future after UPS pulled financial guidance and had difficulty bottom-line benefits from its restructuring. CEO Carol Tomé said the domestic business was pressured by soft industrial activity and the proliferation of U.S. tariffs, which is creating rising price uncertainty for consumers, who are trading down to less expensive service and shifting spending from essential items to discretionary categories like restaurants and automobiles. A better business mix, partly helped by the planned 50% glide down in Amazon deliveries, helped offset the volume impact, with domestic revenue down just 0.8%. Total air average daily volume was down 11.6%, but was up 1.4% when excluding Amazon shipments on the strength of healthcare and high-tech customers. Average ground daily volume was down 6.6% and within ground, Ground Saver volume declined 23.3% as UPS raised prices on the new basic economy product for U.S.-based e-commerce companies to encourage use of premium products. Delivery expenses were $85 million higher because UPS was unable to cut as many delivery stops as projected to optimize density, which offset a 5.5% increase in revenue per piece and weighed on profitability. Ground Saver was rebranded this year after UPS insourced its SurePost final-mile delivery product from the U.S. Postal Service. 'We are laser focused on improving revenue quality and the changes we are making are beginning to show up in our results,' said Chief Financial Officer Brian Dykes. Demand from small-and-medium businesses, which represent nearly a third of total U.S. volume, was flat. Average daily volume for enterprise customers, excluding Amazon, was down 10.4%, because of the effort to improve the customer mix and the soft market. Among those customers, B2B volume declined 2.3% while B2C demand was down nearly 11%. UPS's average daily package volume in the U.S. was down 3.5% in the first quarter. Trade trends International package volume increased 3.9%, helping to boost international revenue by 2.6%. The operating margin dipped more than one point due to the change in geographic mix and lower demand-related surcharges. UPS's international parcel business is about a fifth the size of the domestic operation by volume. But the impact of the Trump administration's 30% tariffs on Chinese-made goods and the elimination of the tariff-free exemption for low-value goods from China caused average daily volumes on the China-U.S. trade lane — the company's most profitable shipping route — to tumble 35% during May and June, Tomé said during an earnings briefing with analysts. Higher U.S. tariffs made trade to other countries more attractive, with UPS exports from China to the rest of the world up 22.4%. UPS adjusted its network accordingly. During the second quarter, it added or canceled more than 100 flights in Asia, Europe and U.S. international lanes as customers shifted orders in response to changing tariffs. The integrated logistics company nearly doubled capacity between India and Europe to meet growing export demand between those regions. The U.S. crackdown on Chinese imports also hurt the Supply Chain Solutions business, where global freight forwarding revenue dropped 44% to $132 million. Overall, revenue for the Supply Chain unit declined 18.3%, primarily due to the impact from last year's divestiture of Coyote Logistics. Tomé said UPS's effort to acquire Mexican express delivery company Estafeta, announced a year ago, has taken longer than expected to clear regulatory and pre-closing conditions. But UPS remains confident about the expansion opportunity in Mexico, especially as businesses increasingly look to migrate production from China to minimize geopolitical and tariff impacts from U.S.-China tensions. So far this year, UPS has conducted more than 600 supply chain mapping assessments to help customers evaluate reshoring options, the CEO said. Network downsizing Through the first half, UPS has closed 74 package distribution centers (one more than the company estimated in its first-quarter results) as part of a five-year initiative to consolidate activity in fewer buildings with automated sortation capabilities while maintaining its delivery footprint. More closures, including in New Orleans, are planned in the second half. Each building has a closing checklist of more than 1,000 steps. UPS in April announced plans to shed 20,000 jobs and 25 million work hours because fewer workers will be required to operate the right-sized network and support diminished Amazon volumes. The attrition rate in the second quarter was lower than anticipated as workers balk at taking exit packages, which kept expenses higher than planned. Fewer than 10% of workers depart in the first month after a facility closes, with the departure rate rising to 25% by the third month. Management expressed confidence that more part-time workers will quit in the near future instead of relocating, but is uncertain how full-time workers will respond. So far, 9,500 positions have been eliminated out of 490,000 total employees at the start of the year. Under the Teamsters contract, employees have a right to follow their work to a new location, although their hours could decline. The company this month offered a voluntary separation program to package car drivers and the CEO said there has been 'a lot of interest' so far, despite the Teamsters union encouraging members not to accept the buyout offer of $1,800 per year of service. About 85% of UPS drivers are at the top end of the pay scale, with anywhere from 25 to 40 years of service, and they would be the most likely candidates to accept the buyout package, said Nando Cesarone, president of the U.S. region and UPS Airlines. The network optimization along with a new initiative to redesign more efficient processes are expected to save the company $3.5 billion this year, the company has said. During the second quarter, UPS implemented a global digital payment system that centralizes how it makes and receives payments. The effort to reduce Amazon volume is contributing to those savings. In the first half, Amazon's average daily volume declined 13%, but management expects the volume decline to accelerate to 30% year over year in both the third and fourth quarters. UPS is working closely with Amazon to ensure an orderly transition for UPS and Amazon customers, which will result in a sequential drawdown of 500,000 parcels in the third quarter. In the first half, UPS filtered 1 million Amazon packages from its system. Dykes said it is important to reduce costs associated with abandoned buildings as Amazon's volumes go down. 'In the second quarter, 64% of our volume went through automated facilities, up from 60% in the second quarter of last year,' Dykes said. 'And those automated facilities give us more flexibility to add sorts, be more dynamic with how we manage the volume, and ultimately, will help us scale more efficiently for peak [season]and drive better cost structure as we reset the network.' UPS abstained from providing revenue or profit guidance for the rest of the year, citing uncertainty surrounding the macroeconomic environment, the Ground Saver price changes and the driver buyouts. July volumes were good, Tomé said, but it is difficult to determine if that is a byproduct of one-off events such as Amazon Prime Days and similar promotions from other retailers, as well as shippers rushing to pre-purchase overseas inventories before the Aug. 1 and Aug. 12 U.S. deadlines for raising tariffs on countries that haven't reached a negotiated trade deal. Small businesses, in particular, may hold back on orders if their tariff risk rises. Click here for more FreightWaves/PostalMag stories by Eric Kulisch. RELATED READING: Teamsters call UPS driver buyout offer 'paltry' UPS to eliminate 20K jobs as Amazon decoupling accelerates UPS drivers to receive buyout offer as company shrinks parcel network The post UPS posts tepid results amid tariff, restructuring challenges appeared first on FreightWaves. Sign in to access your portfolio


CBS News
29-07-2025
- CBS News
Man charged after postal worker stabbed in Miami road rage incident, police say
A 27-year-old man has been charged with aggravated battery and weapon use in a felony after allegedly stabbing a U.S. Postal Service mail carrier during a road rage incident, according to the Miami Police Department. On July 21 at approximately 2:43 p.m., Biscayne Park police responded to reports of a mailman stabbed in the 11700 block of NE 10th Avenue. Officers arrived to find the victim, a 60-year-old USPS employee, in uniform and bleeding from a stab wound to the chest while parked in his mail truck. Miami-Dade Fire Rescue transported the victim to Jackson Memorial Hospital's Ryder Trauma Center for treatment. His current condition has not been released. Officers located the suspect, identified as Valentino Jlil, near the scene, holding a knife and bleeding from a cut on his finger. He was taken into custody without incident and transported to the Biscayne Park Police Department, where he gave a sworn, taped statement after being read his Miranda rights. According to investigators, the confrontation began when the mail carrier inadvertently failed to yield to Jlil, who was riding an electric scooter. Police say Jlil became angry, blocked the mail truck, and initiated a verbal and physical altercation that escalated into violence. Jlil faces charges of felony aggravated battery with a deadly weapon and use of a weapon while committing a felony, police said.


Newsweek
25-07-2025
- Entertainment
- Newsweek
USPS to Reissue America's Favorite Stamp
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. The U.S. Postal Service is inviting the public to participate in a nationwide vote to revive a beloved piece of American history. Why It Matters The competition is taking place in celebration of USPS's 250th anniversary and ahead of the United States' semiquincentennial in 2026. The Stamp Encore Contest, which is open until the end of September, gives Americans the chance to select a favorite stamp pane from a curated list of 25 bestselling and popular designs from recent decades for reissue as part of the 2026 stamp program. What To Know The contest is open to everyone, with no limit on the number of votes you can cast. The options are varied and include fun choices like Star Wars droids, Disney villains, Mister Rogers, and even Bugs Bunny-themed stamps. Other options celebrate major American milestones and historic events, like the Transcontinental Railroad and the Emancipation Proclamation of 1863. File photo of vintage U.S. postage stamps. File photo of vintage U.S. postage stamps. GETTY The full list of stamps you can vote for is as follows: Art of Disney: Magic (2007) Bugs Bunny (1997) DC Comics Super Heroes (2006) Flag Act of 1818 (2018) Have a Ball! (2017) Mail a Smile (2015) Peanuts (2001) Star Wars: Droids (2021) Wonder Woman (2016) Batman (2015) Charles M. Schulz (2022) Disney Villains (2017) Frozen Treats (2018) Heritage Breeds (2021) Message Monsters (2021) Send a Hello (2011) Total Eclipse of the Sun (2017) Bioluminescent Life (2018) Classics Forever (2016) Emancipation Proclamation (2013) Happy Birthday (2021) Let's Celebrate (2020) Mister Rogers (2018) Star Trek (2016) Transcontinental Railroad (2019) You can view the full range here. The USPS has been busy preparing for its 250th anniversary, which officially falls on Saturday, July 26. A range of USPS-themed stamps was released earlier this week, and events will take place at select Post Office locations this weekend to mark the occasion. What People Are Saying Postmaster General and CEO David Steiner said in a statement: "On July 26th, we proudly observe the 250th Anniversary of the United States Postal Service and mark two and a half centuries of service to the American public. In 1775, our Founding Fathers recognized the importance of creating an institution that could bind the nation together and foster secure and accessible communications between every community in America. The rich and enduring history of the Postal Service demonstrates the strength of their wisdom, and we look forward to providing reliable, affordable, and universal service for generations to come." What Happens Next Voting is now open through September 30 and can be conducted online or by mail. The winning stamp pane will be revealed in May 2026 at the Boston 2026 World Expo, coinciding with national celebrations marking 250 years since the founding of the United States. Until then, the results will remain under wraps.