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The USPS will miss its $5.5B payment due to Treasury to provide healthcare for future retirees....

The USPS will miss its $5.5B payment due to Treasury to provide healthcare for future retirees. The bloated postal service will also skip a $5.6B payment due on Sept. 30 as it waits for Congress to act on pending legislation with House members coyly delaying the issue until after fall elections to avoid voting for a proposal that cuts jobs in their districts. Though the immediate impact on FedEx (FDX +0.4%) and UPS (UPS -0.4%) of the USPS meltdown is minimal, if Saturday delivery is slashed small shipments packages could be boosted.
Comments (1)
  • a government program insolvent? gee, what a shocker.
    31 Jul 2012, 02:21 PM Reply Like
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