I recently read a
USA Today front page article by
Rick Hampson, titled “Bell tolls for the U.S. Mail, as we know it.” The article serves as a wistful retrospective glorifying the historical significance of the USPS, calling it a “national treasure.” But things always look better in the rear-view mirror; think how childhood memories gather fondness over elapsed decades. Hampson comes across as a Luddite in one paragraph, yet proselytizes the faster and cheaper communications enabled by the Internet in the next....
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USPS Posts $3.3 Billion Loss in 3 Months
February 10, 2012
From Home Page
The U.S. Postal Service ended the first three months of its 2012 fiscal year (Oct. 1 – Dec. 31, 2011) with a net loss of $3.3 billion. Management expects large losses to continue until the Postal Service has implemented its network re-design and down-sizing and has restructured its healthcare program. Additionally, the return to financial stability requires legislation which gives the Postal Service typical commercial freedoms, including delivery flexibility, returns over $10 billion of amounts overpaid to the Federal Government and resolves the need to prefund retiree healthcare at rates not assessed any other entity in the United States.