U.S. Postal Service lost $354 million in last quarter, endangering cash flow

Posted on


Letter carrier Bryan Krukowski delivers mail on his route on West Hazeltine  in Kenmore, N.Y.  on Tuesday, Jan. 7, 2014 . {John Hickey / Buffalo News}

WASHINGTON – The U.S. Postal Service lost $354 million over the last three months, and officials warned that mounting losses could lead to cash flow problems for the rest of the year, the agency said Friday.

The loss was far less than the $1.3 billion in the comparable quarter the previous fiscal year, but Postmaster General Patrick Donahoe continued to press Congress for more flexibility to manage its finances.

The report for the financial quarter ending Dec. 31 comes as Congress works toward fixing the agency’s troubled finances. Thursday, the Senate Homeland Security and Governmental Affairs Committee approved a bill that would end Saturday mail delivery and make permanent a temporary hike in the cost of a first-class stamp, which went from 46 to 49 cents Jan. 26.

The Senate measure also would restructure a congressional requirement that forces the agency to make a $5.6 billion annual payment for future retiree health benefits. The Postal Service has been urging Congress to reform the service’s finances as it continues to cope with steep financial losses. The Postal Service lost $5 billion in the last fiscal year, down from $15.9 billion in 2012.

On the positive side, the Postal Service said revenue grew $334 million, driven by a 14.6 percent growth in shipping and package services.

 

Read more at http://www.buffalonews.com/business/us-postal-service-lost-354-million-in-last-quarter-endangering-cash-flow-20140207

Letter carrier Bryan Krukowski delivers mail on his route on West Hazeltine in Kenmore, N.Y. on Tuesday, Jan. 7, 2014 . {John Hickey / Buffalo News}

 

Advertisements

12 thoughts on “U.S. Postal Service lost $354 million in last quarter, endangering cash flow

    Homepage said:
    February 26, 2014 at 7:34 pm

    … [Trackback]

    […] There you will find 826 more Infos: andreasardyhendrayanto.wordpress.com/2014/02/08/u-s-postal-service-lost-354-million-in-last-quarter-endangering-cash-flow/ […]

    klik her said:
    March 5, 2014 at 4:30 am

    … [Trackback]

    […] Read More: andreasardyhendrayanto.wordpress.com/2014/02/08/u-s-postal-service-lost-354-million-in-last-quarter-endangering-cash-flow/ […]

    acupuncture: WHY DO YOU NEED IT said:
    March 5, 2014 at 5:12 am

    … [Trackback]

    […] Read More: andreasardyhendrayanto.wordpress.com/2014/02/08/u-s-postal-service-lost-354-million-in-last-quarter-endangering-cash-flow/ […]

    ウェブサイトをご覧ください said:
    March 5, 2014 at 6:21 am

    … [Trackback]

    […] Informations on that Topic: andreasardyhendrayanto.wordpress.com/2014/02/08/u-s-postal-service-lost-354-million-in-last-quarter-endangering-cash-flow/ […]

    READ MORE ABOUT CHIROPRACTIC said:
    March 5, 2014 at 6:48 am

    … [Trackback]

    […] Read More here: andreasardyhendrayanto.wordpress.com/2014/02/08/u-s-postal-service-lost-354-million-in-last-quarter-endangering-cash-flow/ […]

    this said:
    March 5, 2014 at 9:01 am

    … [Trackback]

    […] There you will find 2398 more Infos: andreasardyhendrayanto.wordpress.com/2014/02/08/u-s-postal-service-lost-354-million-in-last-quarter-endangering-cash-flow/ […]

    radiateur inertie pas chere said:
    March 5, 2014 at 2:41 pm

    … [Trackback]

    […] Read More: andreasardyhendrayanto.wordpress.com/2014/02/08/u-s-postal-service-lost-354-million-in-last-quarter-endangering-cash-flow/ […]

    question voyance gratuite en ligne tchat said:
    March 5, 2014 at 2:54 pm

    … [Trackback]

    […] Read More Infos here: andreasardyhendrayanto.wordpress.com/2014/02/08/u-s-postal-service-lost-354-million-in-last-quarter-endangering-cash-flow/ […]

    www.voyancegratuitelignes.com said:
    March 5, 2014 at 11:24 pm

    … [Trackback]

    […] Find More Informations here: andreasardyhendrayanto.wordpress.com/2014/02/08/u-s-postal-service-lost-354-million-in-last-quarter-endangering-cash-flow/ […]

    Abdominoplasty Seattle said:
    March 5, 2014 at 11:29 pm

    … [Trackback]

    […] Find More Informations here: andreasardyhendrayanto.wordpress.com/2014/02/08/u-s-postal-service-lost-354-million-in-last-quarter-endangering-cash-flow/ […]

    arlington va relocation said:
    March 5, 2014 at 11:53 pm

    … [Trackback]

    […] Informations on that Topic: andreasardyhendrayanto.wordpress.com/2014/02/08/u-s-postal-service-lost-354-million-in-last-quarter-endangering-cash-flow/ […]

    Arnulfo said:
    October 4, 2014 at 11:39 am

    Hi there, its fastidious post regarding media print, we all
    know media is a impressive source of information.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s