Home
Forums
New posts
Search forums
What's new
New posts
Latest activity
Members
Current visitors
Log in
Register
What's new
Search
Search
Search titles only
By:
New posts
Search forums
Menu
Log in
Register
Install the app
Install
Home
Forums
The Competition
The Latest Headlines about USPS, DHL, Amazon, etc.
Postal Service loses $3.5 billion in third quarter
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Reply to thread
Message
<blockquote data-quote="cheryl" data-source="post: 758462" data-attributes="member: 1"><p><strong><u><a href="http://www.reuters.com/article/idUKTRE67455S20100805?type=companyNews" target="_blank">Postal Service loses $3.5 billion in third quarter - Reuters</a></u></strong></p><p> </p><p>The Postal Service reported a quarterly net loss of $3.5 billion on Thursday and said it will likely have a cash shortfall going into 2011.</p><p> </p><p>The agency, which delivers nearly half the world's mail, has reported net losses in 14 of the last 16 fiscal quarters.</p><p> </p><p>Revenue in the third quarter that ended June 30 fell $294 million to $16 billion from a year ago, while expenses were $789 million higher at $19.5 billion, due largely to higher workers' compensation costs and retiree health benefits.</p><p> </p><p>"Given current trends, we will not be able to pay all 2011 obligations," said Joseph Corbett, the agency's chief financial officer.</p></blockquote><p></p>
[QUOTE="cheryl, post: 758462, member: 1"] [B][U][URL="http://www.reuters.com/article/idUKTRE67455S20100805?type=companyNews"]Postal Service loses $3.5 billion in third quarter - Reuters[/URL][/U][/B] The Postal Service reported a quarterly net loss of $3.5 billion on Thursday and said it will likely have a cash shortfall going into 2011. The agency, which delivers nearly half the world's mail, has reported net losses in 14 of the last 16 fiscal quarters. Revenue in the third quarter that ended June 30 fell $294 million to $16 billion from a year ago, while expenses were $789 million higher at $19.5 billion, due largely to higher workers' compensation costs and retiree health benefits. "Given current trends, we will not be able to pay all 2011 obligations," said Joseph Corbett, the agency's chief financial officer. [/QUOTE]
Insert quotes…
Verification
Post reply
Home
Forums
The Competition
The Latest Headlines about USPS, DHL, Amazon, etc.
Postal Service loses $3.5 billion in third quarter
Top