Just another bonus
All of the anger directed at the bonuses given to AIG executives has been entertaining to watch, but we don't understand why most people didn't pick up on the bonuses announced this winter for Postmaster General John E. Potter.
Last year, the U.S. Postal Service lost an estimated $2.3 billion. First class mail delivery is off. They want to cut back on delivery days and they're cutting employees, too. Soon, the cost of mailing a first class letter will go up two cents.
Yet, in 2008, Postmaster General Potter got a performance bonus of $135,000 in addition to his salary of $263,575. When you add up all his salary, perks, benefits and bonuses, his total compensation was over $850,000.
So, Potter knows what it means to say the check is in the mail. Unless it was a direct deposit.