Rate hike in Jan 2012? What is Going On? Twitter was busy today with Tweets about a USPS shutdown.
The Wall Street Journal has reported that a number of private sector economic forecasters are toning down their economic forecast for the rest of 2011. Slower economic growth is not good for the USPS as it means less revenue across all mail classes. Slower economic growth is one of the factors that CFO Joe Corbett noted which could cause a July 2012 shut down date to happen sooner when he spoke at MTAC today.
From Non ProfitPostal
Assuming no legislation, & no worse news, the USPS starts shutting down July 2012 when it runs out of operating cash. (heard at MTAC) (nonprofitpostal)
Joe Corbett, USPS CFO says $15B debt limit will be reached Oct 15 when a wkr’s comp pmt is due. (at MTAC) @RepDennisRoss#nonprofitpostal
USPS CFO (at MTAC) says USPS will lose $8.3B in 2011, compared to original projections of $6.4B. Says that legislative reform is needed. Postcom2
nonprofitpostal Alive and well!
Assuming no legislation, & no worse news, the USPS starts shutting down July 2012 when it runs out of operatin… (cont) http://deck.ly/~0pnFc<
Paul Vogel, USPS Pres & CMO, CSO speaking to Mailer’s Technical Advisory Cmmtte AC #nonprofitpostal http://yfrog.com/h8rtbxuj