- Prison Planet.com - http://www.prisonplanet.com -
U.S. Postal Service posts $1.9 billion loss, despite efficiency efforts
Posted By adans On May 10, 2013 @ 1:57 pm In Money Watch,Tile | Comments Disabled
May 10, 2013
Savings from efficiency efforts and increased revenues from some categories of business were not enough to prevent the U.S. Postal Service from posting a loss of $1.9 billion in its second fiscal quarter, postal officials announced Friday.
The loss, following one of $1.5 billion in the first quarter, spurred officials to once again call on Congress to enact changes the Postal Service has proposed, including switching to five-day delivery of mail while continuing six-day delivery of packages, and savings on employee health insurance, retirement and other costs.
Revenue from shipping and packages rose in the second quarter by $267 million, or 9.3 percent, compared with the prior year, while advertising mail revenues were up $96 million, or 2.4 percent. However, revenue from first-class mail, the Postal Service’s most profitable category, decreased $198 million, or 2.7 percent. Total mail volume fell to 38.8 billion pieces from 39.4 billion pieces.
Read more 
Article printed from Prison Planet.com: http://www.prisonplanet.com
URL to article: http://www.prisonplanet.com/u-s-postal-service-posts-1-9-billion-loss-despite-efficiency-efforts.html
URLs in this post:
 washingtonpost.com: http://www.washingtonpost.com/blogs/federal-eye/wp/2013/05/10/u-s-postal-service-posts-1-9-billion-loss-despite-efficiency-efforts
 Postal Service Is Nearing Default as Losses Mount: http://www.prisonplanet.com/postal-service-is-nearing-default-as-losses-mount.html
 Goldman Reports Massive $0.84 Loss Per Share, Prop Trading Loss Of $2.5 Billion, Comp Accrual Of $358,713 Per Employee: http://www.prisonplanet.com/goldman-reports-massive-0-84-loss-per-share-prop-trading-loss-of-2-5-billion-comp-accrual-of-358713-per-employee.html
 Fannie Mae Posts Record $29 Billion Quarterly Loss: http://www.prisonplanet.com/fannie-mae-posts-record-29-billion-quarterly-loss.html
 US Postal Service Could be ‘Stamped Out‘: http://www.prisonplanet.com/us-postal-service-could-be-%e2%80%98stamped-out%e2%80%98.html
 The Bailout Of The US Postal Service Begins: Cost To Taxpayers – $110,000 Per Union Vote “Saved Or Gained”: http://www.prisonplanet.com/the-bailout-of-the-us-postal-service-begins-cost-to-taxpayers-110000-per-union-vote-saved-or-gained.html
Copyright © 2013 PrisonPlanet.com. All rights reserved.