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Thanks so much.
They're despite rising revenues from shipping and packaging in the third quarter the ailing US Postal Service is leaving millions of dollars every hour.
What can be done to fix this mess joining me now is Ken garner CEO.
And president of the mailing -- -- service association that is a trade group representing.
500 mailing companies can thanks for coming on our program.
My pleasure so obviously all of your members are dependent on the Postal Service for their livelihood are -- concerned right now.
Of course are concerned but in addition to my membership it's important to understand the Postal Service is at the hub of very extended supply chain.
That contributes over trillion dollars to the American economy every year -- support -- million private sector jobs so it's just not my association -- to extend the supply chain that is at risk.
Sure everybody -- you know it is a service that definitely needs to you know fix its books at this point and figure out what business is it should be -- in which it shouldn't.
You know there's a lot of great products of the post opposite a lot of things that have to go what do you think is the best way for the post office to get itself and order.
Well if it were up to the post office I think would be much simpler equation it's not obviously as a government agency much of what postal leadership can do and can't do is up to congress in -- when you -- do what what would be your prescription appear at the parted changer what would you do.
Well it is not a complicated situation you have a situation we're operating costs are significantly higher than operating revenues and so the Postal Service is already proposed a number of plans to bring.
Their infrastructure cost down to reduce the size the infrastructure you've got a situation were eighty cents of every dollar -- postage paid.
Is to support labor that's not sustainable so they've got to do something about the labor record highs so.
-- and how -- -- point six billion dollar payment due September 30 that by all intents and purposes the post office is expected to default on is this enough -- the priority for congress.
Well I would think again it is -- it will be defaulted on that the plan will -- the payment will not be made.
And I think again if you take a look at the contribution that the Postal Service and its related industry makes.
I -- the irony here is with all the dialogue about job creation and job retention.
Again you have a situation where a million private sector jobs are at risk as congress allows the Postal Service through -- to to swing in the wind.
But the Conger it seems like it's it's stalled out congress -- -- there were two separate bills and one cast one.
House of congress and the others just cut in -- so many other matters.
That congress is dealing with -- and that a lot of he would aren't your lot more important than the post office so how do you see this cell sorting out at the end of the day how can you motivated a little bit.
Well it's a concern what do you should understand that this is not something that the industry has been working on here the twelfth hour we've been pushing these issues for learning coordinator -- months and months.
Yeah and so it you know look -- -- lot of politics as usual here there are many amenities significant issues that unfortunately congress has the either the inability -- unwillingness to deal with and this is one of them but.
We hope that congressional leadership will see the light here in perhaps get something done in the lame duck session put.
I must say I'm not confident then it's entirely possible that this gets kicked in the next congress.
Okay can't we're gonna wait a bet thanks coming on.
That's my pleasure thank you for having me.
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