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USPS posts $3.1 billion loss in Q3, warns of default

USPS posts $3.1 billion loss in Q3, warns of default

The U.S. Postal Service posted a net loss of $3.1 billion in its third quarter and warned again it would default on payments to the federal government if Congress did not step in.

 

Officials: USPS likely to go broke in 2011

Officials: USPS likely to go broke in 2011

The cash-strapped U.S. Postal Service delivered more bad news Friday, announcing it lost $8.5 billion in the fiscal year that ended in September. Without congressional action to change its obligations, officials said, the Postal Service likely will go broke at the end of fiscal 2011.

 

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