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The Latest Headlines about USPS, DHL, Amazon, etc.
U.S. Postal Service Posts Quarterly Loss Of $5.2 Billion
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<blockquote data-quote="cheryl" data-source="post: 1006718" data-attributes="member: 1"><p><a href="http://www.bloomberg.com/news/2012-08-10/u-s-postal-service-posts-quarterly-loss-of-5-2-billion.html" target="_blank"><strong>U.S. Postal Service Posts Quarterly Loss Of $5.2 Billion - Bloomberg</strong></a></p><p></p><p>“We have reached the point where we must conserve cash in order to fund operations,” Chairman Thurgood Marshall Jr said at a Postal Service board meeting yesterday in Washington. “Our highest priority is to continue delivering the mail.”</p><p></p><p>Most of the service’s losses have come from the pre-funding requirement for future retirees’ health care since it was implemented in 2007, Fredric Rolando, president of the Washington-based National Association of Letter Carriers union, said in an e-mail.</p><p></p><p>“The irony of Congress continuing to insist on pre-funding is that the Postal Service already has $45 billion in its future retiree health benefits fund, more than any company in America and enough for decades into the future,” he said.</p></blockquote><p></p>
[QUOTE="cheryl, post: 1006718, member: 1"] [URL="http://www.bloomberg.com/news/2012-08-10/u-s-postal-service-posts-quarterly-loss-of-5-2-billion.html"][B]U.S. Postal Service Posts Quarterly Loss Of $5.2 Billion - Bloomberg[/B][/URL] “We have reached the point where we must conserve cash in order to fund operations,” Chairman Thurgood Marshall Jr said at a Postal Service board meeting yesterday in Washington. “Our highest priority is to continue delivering the mail.” Most of the service’s losses have come from the pre-funding requirement for future retirees’ health care since it was implemented in 2007, Fredric Rolando, president of the Washington-based National Association of Letter Carriers union, said in an e-mail. “The irony of Congress continuing to insist on pre-funding is that the Postal Service already has $45 billion in its future retiree health benefits fund, more than any company in America and enough for decades into the future,” he said. [/QUOTE]
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U.S. Postal Service Posts Quarterly Loss Of $5.2 Billion
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