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.”