USPS Loses $354 Million Over Last Three Months

The Postal Service continues its downward spiral, announcing a $354 million loss over the last three months. That's much better than previous quarters. The Postal Service credits cost-cutting combined with growth in package delivery. But Postmaster General Pat Donahoe rejects the idea that the agency has turned a corner. He says Congress has to pass a reform measure. A Senate panel last week approved a bill. It would end Saturday mail delivery, trim workers' compensation and make permanent a temporary hike in the cost of a first-class stamp.