Practice English Speaking&Listening with: Post Office says coronavirus led to mail volume drop, may never fully recover

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NEIL: ALL RIGHT.

NEIL: ALL RIGHT. I KNOW WERE IN THE MIDDLE OF

I KNOW WERE IN THE MIDDLE OF ALL THIS CORONAVIRUS ISSUE HERE,

ALL THIS CORONAVIRUS ISSUE HERE, BUT THE PRESIDENT MADE WAVES

BUT THE PRESIDENT MADE WAVES LAST WEEK WHEN HE TALKED ABOUT

LAST WEEK WHEN HE TALKED ABOUT THE POST OFFICE SORT OF GETTING

THE POST OFFICE SORT OF GETTING SCHNOOKERED BY AMAZON AND THAT

SCHNOOKERED BY AMAZON AND THAT IT SHOULD BE RAISING ITS PRICES

IT SHOULD BE RAISING ITS PRICES FOR AMAZON PACKAGES, NEVER MIND

FOR AMAZON PACKAGES, NEVER MIND THE FACT IT IS NOT A PLAYER WITH

THE FACT IT IS NOT A PLAYER WITH AMAZON PACKAGES, BUT HE IS NOW

AMAZON PACKAGES, BUT HE IS NOW THREATENING TO WITHHOLD AID OR

THREATENING TO WITHHOLD AID OR CUT BACK ON AID FOR THE COMPANY.

CUT BACK ON AID FOR THE COMPANY. ITS A MESS.

ITS A MESS. I DONT UNDERSTAND IT.

I DONT UNDERSTAND IT. FORTUNATELY, HILLARY VAUGHN

FORTUNATELY, HILLARY VAUGHN DOES.

DOES. HILLARY, WHATS THE LATEST ON

HILLARY, WHATS THE LATEST ON THIS?

THIS? REPORTER: HEY, NEIL.

REPORTER: HEY, NEIL. ALL THIS STARTED BECAUSE THE

ALL THIS STARTED BECAUSE THE U.S. POSTAL SERVICE IS GETTING

U.S. POSTAL SERVICE IS GETTING CRUSHED BY THE COVID-19 PANDEMIC

CRUSHED BY THE COVID-19 PANDEMIC SO THEY ARE ASKING FOR FEDERAL

SO THEY ARE ASKING FOR FEDERAL RELIEF CASH.

RELIEF CASH. THE POSTMASTER GENERAL SAYING

THE POSTMASTER GENERAL SAYING THE PANDEMIC HAS HAD THIS IMPACT

THE PANDEMIC HAS HAD THIS IMPACT ON THEIR SERVICES, SAYING QUOTE,

ON THEIR SERVICES, SAYING QUOTE, THE SUDDEN DROP IN MAIL VOLUMES

THE SUDDEN DROP IN MAIL VOLUMES OUR MOST PROFITABLE REVENUE

OUR MOST PROFITABLE REVENUE STREAM IS STEEP AND MAY NEVER

STREAM IS STEEP AND MAY NEVER FULLY RECOVER.

FULLY RECOVER. WE NOW ESTIMATE THE COVID-19

WE NOW ESTIMATE THE COVID-19 PANDEMIC WILL INCREASE THE

PANDEMIC WILL INCREASE THE POSTAL SERVICES NET OPERATING

POSTAL SERVICES NET OPERATING LOSS BY MORE THAN $22 BILLION

LOSS BY MORE THAN $22 BILLION OVER THE NEXT 18 MONTHS AND BY

OVER THE NEXT 18 MONTHS AND BY OVER $54 BILLION OVER THE LONGER

OVER $54 BILLION OVER THE LONGER TERM.

TERM. THERE IS RELIEF ON THE WAY, BUT

THERE IS RELIEF ON THE WAY, BUT IT COULD COME WITH STRINGS.

IT COULD COME WITH STRINGS. THE CARES ACT ALLOCATES $10

THE CARES ACT ALLOCATES $10 BILLION IN A LOAN FOR THE USPS

BILLION IN A LOAN FOR THE USPS BUT THE PRESIDENT SAYS HE WANTS

BUT THE PRESIDENT SAYS HE WANTS TO SEE THEM HIKE PRICES FIRST TO

TO SEE THEM HIKE PRICES FIRST TO COMPETE WITH AMAZON AND THE

COMPETE WITH AMAZON AND THE PRIVATE SECTOR BEFORE HE HANDS

PRIVATE SECTOR BEFORE HE HANDS OVER THE CASH.

OVER THE CASH. >> THIS THINGS LOSING BILLIONS

>> THIS THINGS LOSING BILLIONS OF DOLLARS.

OF DOLLARS. IT HAS FOR YEARS.

IT HAS FOR YEARS. BECAUSE THEY DONT WANT TO

BECAUSE THEY DONT WANT TO INSULT FOR WHATEVER REASON, YOU

INSULT FOR WHATEVER REASON, YOU CAN IMAGINE, THEY DONT WANT TO

CAN IMAGINE, THEY DONT WANT TO INSULT AMAZON AND THESE OTHER

INSULT AMAZON AND THESE OTHER GROUPS.

GROUPS. IF THEY DONT RAISE THE PRICE,

IF THEY DONT RAISE THE PRICE, IM NOT SIGNING ANYTHING.

IM NOT SIGNING ANYTHING. REPORTER: THE PRESIDENT DID WALK

REPORTER: THE PRESIDENT DID WALK BACK THOSE COMMENTS JUST TWO

BACK THOSE COMMENTS JUST TWO HOURS LATER ON FRIDAY, SAYING HE

HOURS LATER ON FRIDAY, SAYING HE WOULD NEVER LET THE POST OFFICE

WOULD NEVER LET THE POST OFFICE FAIL, BUT THIS IS A BIG PROBLEM,

FAIL, BUT THIS IS A BIG PROBLEM, BECAUSE THEY HAVE BEEN LOSING

BECAUSE THEY HAVE BEEN LOSING BILLIONS OF DOLLARS FOR YEARS.

BILLIONS OF DOLLARS FOR YEARS. LAST FISCAL YEAR, THEY ENDED

LAST FISCAL YEAR, THEY ENDED WITH A NET REVENUE LOSS OF OVER

WITH A NET REVENUE LOSS OF OVER $8 BILLION.

$8 BILLION. A BIG PART DOES NOT HAVE TO DO

A BIG PART DOES NOT HAVE TO DO WITH HOW THEY PRICE THEIR

WITH HOW THEY PRICE THEIR PACKAGE DELIVERY OR HOW THEY

PACKAGE DELIVERY OR HOW THEY COMPETE WITH AMAZON, BUT JUST

COMPETE WITH AMAZON, BUT JUST THE GENERAL STEADY DROP OF MAIL

THE GENERAL STEADY DROP OF MAIL VOLUMES OVER THE PAST SEVERAL

VOLUMES OVER THE PAST SEVERAL YEARS, AS BUSINESSES SEND FEWER

YEARS, AS BUSINESSES SEND FEWER THINGS THROUGH THE MAIL.

THINGS THROUGH THE MAIL. BILL PAY HAS MOVED ONLINE.

BILL PAY HAS MOVED ONLINE. THEY HAVE ALSO BACKED UP OVER

THEY HAVE ALSO BACKED UP OVER $160 BILLION IN PREPAYING

$160 BILLION IN PREPAYING RETIREE BENEFITS.

RETIREE BENEFITS. THATS SOMETHING THE POST OFFICE

THATS SOMETHING THE POST OFFICE HAS TO DO AS PART OF A ROLE THAT

HAS TO DO AS PART OF A ROLE THAT MANY OTHER BUSINESSES DO NOT DO.

MANY OTHER BUSINESSES DO NOT DO. TREASURY SECRETARY MNUCHIN SAYS

TREASURY SECRETARY MNUCHIN SAYS THERE COULD BE A REFORM PACKAGE

THERE COULD BE A REFORM PACKAGE TIED TO THIS RELIEF MONEY FOR

TIED TO THIS RELIEF MONEY FOR THE POST OFFICE AND PART OF THAT

THE POST OFFICE AND PART OF THAT COULD BE BRINGING IN NEW

COULD BE BRINGING IN NEW POSTMASTER GENERAL.

POSTMASTER GENERAL. NEIL?

NEIL? NEIL: ALL RIGHT.

NEIL: ALL RIGHT. HILLARY, THANK YOU VERY, VERY

HILLARY, THANK YOU VERY, VERY MUCH.

MUCH. KEEP IN MIND THAT WITH THE

KEEP IN MIND THAT WITH THE SMALLER PART OF BUSINESS GOING

SMALLER PART OF BUSINESS GOING TO AMAZON, SOME OF THE OTHER BIG

TO AMAZON, SOME OF THE OTHER BIG BOX PLAYERS THAT HILLARY ALLUDED

BOX PLAYERS THAT HILLARY ALLUDED TO COULD SIMPLY TAKE THEIR

TO COULD SIMPLY TAKE THEIR BUSINESS ELSEWHERE, ESPECIALLY

BUSINESS ELSEWHERE, ESPECIALLY IF THE POST OFFICE WERE TO JACK

IF THE POST OFFICE WERE TO JACK UP RATES.

UP RATES. THERE IS UPS.

THERE IS UPS. WE HAVE ALREADY SEEN THAT

WE HAVE ALREADY SEEN THAT HAPPENING.

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