Former USPS exec says financial crisis is “over for now”

From Linn’s Stamp News reporter Bill McAllister:

For most of his 35 years with the federal government, Stephen M. Kearney was a financial analyst for the United States Postal Services.

Now, as the executive director of the Alliance of Nonprofit Mailers, he has become one of Washington’s most important postal commentators.

Since Kearney filled most every executive job on the Postal Service’s financial side, few people outside the agency are better qualified to write about postal finances.

That has made Kearney’s weekly “Alliance Report” must reading in Washington and, I suspect, at Postal Service headquarters.

His Oct. 7 analysis may have turned a few heads there because he declared that “the financial and liquidity crisis that USPS management declared a couple of years ago is over for now.”

The Postal Service no longer frets about “the exact number of days” of cash balance it has on hand, he said.

Instead, Kearney noted, “The compelling reason for reform voiced by USPS management has changed from we’re about to run out of cash to we need about $5 billion to update our truck fleet by 2017.”

Read more: Former stamp executive returns to financial analysis –