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Originally Posted by oilers_fan
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From that article.
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And yet the crown corporation has just announced that its operating profit for 2014 was a handsome $299 million. What happened?
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The previous 3 years the losses totaled 425 million dollars.
After a major reduction in payroll of some 6000 jobs and a major increase in the cost of stamps...then yes the operation showed a profit.
Snail mail is a thing of the past regardless of what the extremely biased Toronto star wants to claim.
Where Canada Post can survive is on parcel delivery but that just means a government agency is, not unlike the CBC, competing against private corporations which is asinine. It is very much a "no longer needed service" like the CBC that at one time was an absolutely necessary one.
CP is also trying to get back into the banking business. Even though there is also plenty of private groups that can handle that just fine, the union wants to get into a business that would be underwritten by taxpayers in an enviroment where even the leanest of those in the industry are losing profits at rates last seen during the 08 recession.
I think the government should take this opportunity to lock em out and never ever let them back. Allow the private sector to provide the jobs that will be created with the dissolution of Canada Post and the whole new level of business provided to that industry.
However, since it's the Liberals in charge it's much more likely they will throw a bunch of money at them,embolden the union some more, and hope to actually make them bigger once again and all at taxpayers cost.