Consumer Confidential: Postal woes, Kodak woes, Google privacy

sahara_mafia · Feb 11, 2012, 11:59 AM

The Postal Service's troubles get worse and worse. The agency says that it lost $3.3 billion in the quarter ended Dec. 31 and that it expects to run out of cash in October unless Congress agrees to cuts in facilities and employees. This was the ninth straight quarter of losses. The Postal Service, which doesn’t receive taxpayer funding, last year reached its $15-billion borrowing limit from the U.S. Treasury and has forecast a record $14.1-billion loss for this fiscal year. The service wants to eliminate as many as 220,000 jobs and close as much as 12% of its post offices, among other changes.

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Source : Latimes

Feb 11, 2012, 11:59 AM	#1
sahara_mafia member Join Date: Jun 2009 Location: botswana Posts: 3,368 Rep Power: 155 System Specs	Consumer Confidential: Postal woes, Kodak woes, Google privacy The Postal Service's troubles get worse and worse. The agency says that it lost $3.3 billion in the quarter ended Dec. 31 and that it expects to run out of cash in October unless Congress agrees to cuts in facilities and employees. This was the ninth straight quarter of losses. The Postal Service, which doesn’t receive taxpayer funding, last year reached its $15-billion borrowing limit from the U.S. Treasury and has forecast a record $14.1-billion loss for this fiscal year. The service wants to eliminate as many as 220,000 jobs and close as much as 12% of its post offices, among other changes. ______________ Source : Latimes __________________