POSTAL SERVICE ASKS WHITE HOUSE FOR AID

The Postal Service’s board of governors, facing a $2
billion operating loss for fiscal year 2001, asked the White House for help
in overhauling the country’s postal laws in an effort to head off losses.
The Postal Service’s estimated operating loss for fiscal year 2001 has
soared by more than 300 percent since December, to $2 billion from $480
million in December, because of the continued decline in the U.S. economy
and a lower-than-expected rate increase from the independent board that
controls increases.
The Postal Service uses no tax money to operate. By law, it must make a
profit.
Copyright (c) 2001, Beacon Journal Publishing Co.
BEACON JOURNAL (AKRON), 07th March 2001