Calls for “lame duck” reforms as USPS records $16bn loss
The US Postal Service said today it is “critical” that Congress passes key postal reforms before the end of next month, as it recorded a $15.9bn loss for the 2012 year.
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Credit maxed out, USPS waits cautiously for festive volumes
The US Postal Service has reached its legal borrowing limits, it has confirmed to US media, and now has no safety net to draw on until festive mail volumes start coming in.
Read MoreUSPS losses pass $14bn mark for the year
The US Postal Service has lost more than $14bn so far in its current fiscal year – with a month still to go in its current reporting period.
Read MoreUSPS “could be profitable today” if Congress passed reforms
The US Postmaster General insisted yesterday that the US Postal Service is not going out of business any time soon, despite heading towards a $16bn loss in the current fiscal year.
Read MorePostal reform “unlikely” to pass US Congress before elections
Comprehensive postal reform is “unlikely” to pass the US Congress in the short time available this month, a leading Republican Congressman has said.
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