USPS Weighs Hiring Restructuring Advisers - Bloomberg
The U.S. Postal Service, which is projecting a $14.1 billion loss this fiscal year, is discussing restructuring options with potential advisers, according to people with knowledge of the matter.
The service, which is structured as a self-supporting government enterprise,“will run out of cash or be dangerously close” by September 30, 2012, Chief Financial Officer Joseph Corbett said today at the service’s headquarters in Washington. The service can’t make a $5.5 billion payment due Nov. 18 to the U.S. Treasury for future retirees’ health benefits, he said.
The U.S. Postal Service, which is projecting a $14.1 billion loss this fiscal year, is discussing restructuring options with potential advisers, according to people with knowledge of the matter.
The service, which is structured as a self-supporting government enterprise,“will run out of cash or be dangerously close” by September 30, 2012, Chief Financial Officer Joseph Corbett said today at the service’s headquarters in Washington. The service can’t make a $5.5 billion payment due Nov. 18 to the U.S. Treasury for future retirees’ health benefits, he said.
