The Postal Service lost $2.8 billion in fiscal year (FY) 2008. This year, the Postal Service is concerned its loss could grow to $6 billion or more. Since the Postal Service is limited by law from borrowing more than $3 billion per year and the Postal Service started 2009 with only $1.4 billion cash on hand, there is a danger the Postal Service could face a liquidity problem as payroll and benefits alone are about $54 billion a year.
It’s not only travelers that have to deal with delays at the airport. Seems inbound international mail does, too.
But the U.S. Postal Service isn’t necessarily at fault when inbound international mail is delayed. While on a plane and even after it’s unloaded but not yet tendered to the...Read More