ACMA: USPS Posts Huge 2012 Loss; What Lies Ahead?
The U.S. Postal Service reported a fiscal 2012 net loss of $15.9 billion, 6 percent greater than its own projection of $15 billion. Overall mail volume fell by 5 percent, primarily in First Class. The USPS also has noted Oct. 15, 2013, as the date it will run out of cash. … During the USPS’s Board of Governors meeting … Postmaster General Pat Donahoe said the big financial loss “has nothing to do with the value of the mail—only due to our restrictive business model. Ideally, comprehensive legislation [Postal Reform] can be accomplished in this lame duck session.”