Red Ink For Post Office: $8.5b Lost Last Year

By RANDOLPH E. SCHMID 2010-11-12T23:10:40Z WASHINGTON (AP) -- The Postal Service said Friday it lost $8.5 billion last year despite deep cuts of more than 100,000 jobs and other reductions in recent years. The post office had estimated it would lose $6 billion to $7 billion, but a sharp decline in mail took a toll.

 

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