Godlike Productions - Conspiracy Forum
Users Online Now: 2,142 (Who's On?)Visitors Today: 757,675
Pageviews Today: 1,089,605Threads Today: 252Posts Today: 4,080
08:38 AM


Rate this Thread

Absolute BS Crap Reasonable Nice Amazing
 

US Postal Service warns of default as losses mount

 
Stu
Offer Upgrade

User ID: 1134640
United States
02/10/2011 01:24 AM

Report Abusive Post
Report Copyright Violation
US Postal Service warns of default as losses mount
Postal Service warns of default as losses mount

By Ben Rooney, staff reporterFebruary 9, 2011: 3:47 PM ET


NEW YORK (CNNMoney) -- The U.S. Postal Service warned Wednesday that it may default on some of its financial obligations later this year after reporting yet another quarterly loss.

The USPS, a self-supporting government agency that receives no tax dollars, said it suffered a loss of $329 million in the first quarter of federal fiscal year 2011. That compared with a loss of $297 million a year earlier.

Email Print The agency has been suffering from an ongoing decline in mail volume, which has undercut revenues, while retiree health care costs have been straining its reserves.

Excluding costs related to retiree benefits and adjustments to workers' compensation liability, the Postal Service said it had net income was $226 million in the first quarter, which ended Dec. 31.

Despite ongoing cost-cutting efforts, the USPS said it expects to have a cash shortfall this year and to hit its federally mandated borrowing limit by September, when the government's fiscal year ends.

rest :

[link to money.cnn.com]
_____________________________________
There is no use removing doubts one by one. If we clear one doubt another doubt will arise and there will be no end of doubts. But, if by seeking the doubter, the doubter is found to be really non-existent, then all doubts will cease. -- Ramana Maharshi


You have to keep breaking
your heart until it opens.

~ Rumi
Anonymous Coward
User ID: 1260690
United States
02/10/2011 01:34 AM
Report Abusive Post
Report Copyright Violation
Re: US Postal Service warns of default as losses mount
Either they've changed the way they are doing business, as they've been self supporting all these years, or they are lying. The USPS want a bailout. Another Washington scam.

The place is nothing but federal snopps coming by the house ever single day and going through the mail. Once a week is plenty for mail.
Anonymous Coward
User ID: 1136718
United States
02/10/2011 06:12 PM
Report Abusive Post
Report Copyright Violation
Re: US Postal Service warns of default as losses mount
thanks for the update stu

News








We're dropping truth bombs like it's the end of days!