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U.S. Postal Service's FY loss more than triples to $15.9B, mainly due to two defaults of over...

U.S. Postal Service's FY loss more than triples to $15.9B, mainly due to two defaults of over $11B combined. Operating revenue -0.8% to $65.2B. Mailing volume -5% to 159.9B pieces, but package revenue +8.7% to $926M, boosted by online shopping. Has cash on hand equal to about a week's pay for its 525K employees. Labor accounts for over 80% of costs vs 61% at UPS and 41% at FedEx.
Comments (5)
  • They will be saved because XMas is near. Santa Claus does exist if only for the Post Office.
    16 Nov 2012, 06:42 AM Reply Like
  • congress voted to cut it's funds, right?

     

    like they voted to cut embassy security before benghazi.

     

    let's forget to mention these facts when shaking our heads about the posties or about the tragedy that happened at benghazi.
    16 Nov 2012, 07:00 AM Reply Like
  • Excellent examples of gov's poor management abilities.
    16 Nov 2012, 07:36 AM Reply Like
  • USPO and AmTrak should both be privatized. Unleash these bureaucrats onto the open market so they can learn first hand what those of us in the real world deal with every day.
    16 Nov 2012, 10:21 AM Reply Like
  • The UK provides an interesting take for a monopolized mail carrier.

     

    http://bit.ly/TUmqhL
    16 Nov 2012, 01:19 PM Reply Like
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