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

|By:, SA News Editor

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.