USPS “on brink of insolvency”
USPS may run out of cash as early as October unless Congress drops a requirement to prefund health benefits for retirees, postmaster general John Potter told lawmakers, reports Business Week.
Read MoreTag: Potter
Potter urges for five-day delivery in US
John Potter used the open session of the November USPS Board of Governors meeting to press again for structural reform of the agency, insisting that real reform must reduce the number of delivery days from six to five per week, reports DM News.
Read MoreUSPS ends 2009 with $3.8bn loss
USPS has announced a net loss of $3.8bn for 2009.
Read MoreUSPS deliver quality results
Despite continuing economic challenges, USPS said it continues to deliver high levels of service, with 94% of customers surveyed rating USPS as “excellent, very good or good” in the period 1 July – 30 September 2009.
Read MoreNo USPS mailing price increase for 2010, says Potter
USPS postmaster general John Potter has told customers there will be no price hike in 2010 for standard mailing products, while other services remain under consideration.
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