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.
Service is in the name, so you know it’s important. Indeed, U.S. Postal Service managers place service performance at the top of their priority list – sometimes even over the financial health of the agency, our recent audit...Read More