U.S. Postal Service Can't Pay the $5.6 Billion It Owes (Again)
The United States Postal Service has announced that it will default on a $5.6 billion loan payment due this Sunday but is insisting it's totally Congress's fault.
Advertisement
Yes, you read that headline right. Strapped for cash and obviously desperate, the United States Postal Service is launching a new line of "'smart apparel' — also known as wearable electronics."
The United States Postal Service has announced that it will default on a $5.6 billion loan payment due this Sunday but is insisting it's totally Congress's fault.
In the first quarter of fiscal 2012, the U.S. Postal Service reported a net loss of $3.3 billion dollars on Thursday--a bad sign in what's supposed to be a strong quarter for the organization.
Cartoonist Nick Anderson on the U.S. Postal Service's budget cuts.
The U.S. Postal Service is preparing to announce to cuts of up to $6.5 billion a year from its overwhelmed budget, including a reduction of the speed of first-class mail, making it impossible for normal mail to be delivered in one day.
The U.S. Postal Service lost $5 billion last year and would have lost double that amount if the government hadn't stepped in to give them a break on pension payments.
Just another nail in the coffin for the Postal Service
The USPS unveiled a new ad campaign based on letter-mailing reliability
Obama has endorsed eliminating Saturday delivery to save the U.S Postal Service
Spending cut show down has actual, tangible consequences
The U.S. mail struggles for survival in an age of email, and with crippling overhead
A "super-fan" pointed out that the stamp featured a Las Vegas replica
Have a story we missed? A link we have to click? A sharp opinion about the news? Instead of waiting for us to post it, tell us on the Open Wire.
Submit your news and ideas | See all reader postsThe Atlantic Wire is your authoritative guide to the news and ideas that matter most right now. Our team tracks newsmakers and opinions across the entire media spectrum: newspapers, web sites, television, radio and magazines.
But we do more than just collect information. By synthesizing, analyzing and summarizing what’s out there, and adding new information when we can, we are a news engine that gives you a quick and valuable account of the issues of the day.
Have a hot tip? A story we missed? Tell us on the Open Wire
How to send us editorial or technical feedback
Get Five Best Columns in your inbox each morning (preview)
