Postal Official Delivers Sobering Assessment: ; Plummeting First-Class Mail Use Threatens Service with Insolvency
Charleston Daily Mail › August 18, 2011
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Summary
Without congressional permission to make changes like the elimination of Saturday delivery, the U.S. Postal Service is on track to become insolvent at the end of next month, said acting Appalachian District Manager Darryl Myers.
The postal service has taken drastic measures since mail volume dropped dramatically during the Great Recession of 2008 and 2009, but it can't do enough internally to staunch the red ink, Myers said.See the full content of this document
Extract
Postal Official Delivers Sobering Assessment: ; Plummeting First-Class Mail Use Threatens Service with Insolvency
The postal service lost $8.5 billion last year and is facing a potential loss of $8 billion this year.
"What's been most devastating is the steady and significant decline in first-class mail," Myers said. First-class ma...See the full content of this document
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