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Women losing coverage under Obamacare, too
Topic - John E. Potter
In a year when the U.S. Postal Service lost more than $5 billion, former Postmaster General John E. Potter still received more than a quarter-million dollars thanks to a hefty deferred-compensation package, a "lifetime achievement award" and a severance deal, records show.
John E. Potter was named to head the Metropolitan Washington Airports Authority on Wednesday, six months after finishing a decade-long stint overseeing the financially beleaguered U.S. Postal Service.
Outgoing U.S. Postmaster John E. Potter, who earned nearly a quarter-million dollars in incentive pay in 2010 on top of a $273,000 salary, is telling fellow Postal Service executives that from now on bonuses and salary increases will be tied to the agency's financial condition.
Outgoing U.S. Postmaster General John E. Potter earned nearly $800,000 last year - an increase of more than $60,000 over the previous year - as the U.S. Postal Service faces the worst financial crisis in its history.
Records show that the U.S. postmaster general and his top officials gave investigators varying accounts about the decision to allow a top executive to retain his six-figure outside corporate jobs while working full time, earning more than $230,000 as president of shipping and mailing, for the U.S. Postal Service.
The former $232,500-per-year president of shipping and mailing for the U.S. Postal Service regularly worked on outside corporate business while in the office, even enlisting his postal staff to schedule meetings and arrange for his private travel, postal investigators have found.
The financially troubled U.S. Postal Service pays Robert F. Bernstock a $232,500 salary to oversee its shipping and mailing division, but a little-known hiring provision allows the executive to earn even more money from outside corporate sources.
He said Mr. Bernstock had a "proven record of building businesses and delivering revenue while driving down costs."
"The trouble is, the Postal Service has many long-term, structural fiscal problems that have been brewing under many postmasters as well as congresses," he said. "Lawmakers will have to confront these problems more directly when designing future postmaster compensation packages, not to mention their own postal reform legislation."