WASHINGTON – Today, Sen. Tom Carper (D-Del.), chairman of the Senate subcommittee that oversees the U.S. Postal Service, released the following reaction to the announcement that the U.S. Postal Service lost $3.1 billion this quarter: “While today’s announcement that the U.S. Postal Service lost $3.1 billion in the last three months is disappointing, it does […]
Issa Statement on Postal Service Losses WASHINGTON- Rep. Darrell Issa, R-Calif., issued the following statement today as the United States Postal Service announced its third quarter losses for the current fiscal year. First-Class Mail volume was down over 6 percent compared to the same quarter last year. “The Postal Service’s announcement of yet another multi-billion […]
Default on Federal Payments Unavoidable Without Congressional Action WASHINGTON — The U.S. Postal Service ended its third quarter of fiscal year (FY) 2011 (April 1-June 30) with a net loss of $3.1 billion, compared to a net loss of $3.5 billion for the same period in FY 2010. Total mail volume declined to 39.8 billion […]
The US Postal Service filed its eighth month preliminary financial report of the 2011 fiscal year (unaudited) with the Postal Regulatory Commission (PRC) . USPS reported a net operating loss of $1.3 billion for the month of May 2011. This same period last year saw a $642 million net loss. In October 2010 USPS saw […]
The House Subcommittee on the Federal Workforce, U.S. Postal Service, and Labor Policy lead by Congressman Dennis Ross (R-FL) issued a news release citing the wrong financial figures for USPS. USPS announced a $2.2 billion net loss– the Ross led subcommittee said it was $2.6 billion. But what harm is a $400,000,000 difference from a […]
Default on federal payments looming U.S. Postal Service Loss Widens in Second Quarter WASHINGTON — The U.S. Postal Service ended the second quarter of this fiscal year (Jan. 1 – March 31, 2011) with a net loss of $2.2 billion, compared to a net loss of $1.6 billion for the same period in FY 2010. […]