USPS posts $3.5 billion loss as mail volume plunges

CNNMoney ^ | 8/5/10 | Hibah Yousuf

[Nachum]

NEW YORK -- The U.S. Postal Service reported a $3.5 billion loss in its most recent quarter Thursday, as mail volume plummets and retiree health care costs mount. The USPS, a self-supporting government agency that receives no tax dollars, said operating revenue declined 1.8% to $16 billion during the fiscal 2010 third quarter compared to a year earlier, while operating expenses spiked 4.2% to $19.5 billion.

[Soothesayer9]

Well, in a normal business setting, its either adapt or fail. Oh wait thats right. They can’t adapt unless they steal other people’s money! Too big to fail and all.

[gunnyg]

OK, OK—I’ve seen this post 3 times today—and I already have the sitemeter advertised above!

[rovenstinez]

I’ve been trying to help REAL HARD, I return all of the Self Addressed Pre Paid Envelopes with GREEN notes, don’t cut down trees to send junk mail, I return all junk mail to sender.

[Jacquerie]

What’s the big deal? The Postal Service is every bit as healthy and necessary as the Newspaper industry.

[CloudsofFlight]

Aw. Well all they need to do is stop putting out those specialty stamps, gift wrap...that unnecessary fluff no one buys. And they should get real about those end-of-year bonuses for those at the top. Priorities.