Quantcast

Friday, October 24, 2014         

 Print   Email   Comment | View 3 Comments   Most Popular   Save   Post   Retweet

Postal Service reports $740 million third-quarter loss

By Andrew Miga

Associated Press

POSTED:
LAST UPDATED: 09:38 a.m. HST, Aug 09, 2013


WASHINGTON » The Postal Service says it lost $740 million over the last three months and that without help from Congress its financial woes will only worsen.

The report for the financial quarter ending June 30 comes as Congress considers proposals to fix the agency's finances. The agency lost $16 billion last year and is trying to restructuring its retail, delivery and mail-processing operations.

The service wants to end most Saturday and door-to-door mail delivery. It also is seeking to reduce its congressionally mandated $5.6 billion annual payment for future retiree health benefits. The agency says ending Saturday mail delivery would save $2 billion each year.

The Postal Service is an independent agency and gets no tax dollars for its day-to-day operations. It is, however, subject to congressional control.






 Print   Email   Comment | View 3 Comments   Most Popular   Save   Post   Retweet

COMMENTS
(3)
You must be subscribed to participate in discussions


IN OTHER NEWS
Breaking News
Blogs
Political Radar
Plus 7

Political Radar
Important

Political Radar
Important

Island Crafters
Weekend Happenings

Small Talk
Handcuffs

Political Radar
Sued