The reason? A requirement to make advance health care cost payments
WASHINGTON — The post office continues to lose money at a rapid pace thanks to a requirement that it make advance payments to cover expected health care costs for future retirees.
The agency said Wednesday it had a loss of $329 million for the first quarter of the fiscal year — Oct. 1 to Dec. 31, 2010.
That was up from a $297 million loss in the same period the year before, which ended with a total loss of $8.5 billion.
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1 comment:
There are more modern methods to disseminate informational non-critical information than paper and humans. The USPS should get out of the parcel business and focus solely on First Class mail. This would dramatically reduce the number of carriers required to deliver the mail. In addition, consider how many Postal facilities that could be eliminated as a result. Use google hotbot to search for post office and see just how many facilities are around you.
URL: http://www.google.com/hotpot (search for post office)
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