David C. Williams, USPS Inspector General Small towns and inner-city neighborhoods are losing their access to financial services. Post offices could easily fill the void. Drive through the dilapidated main strip in Terry, Miss., and it’s easy to see that the town of 1,063 is a hardscrabble place. And last month, life there got harder […]
The US Postal Service filed its fourth month preliminary financial report of the 2013 fiscal year (unaudited) with the Postal Regulatory Commission (PRC) . USPS reported a net operating loss of $437 million for the month of January 2013 (PDF). This same period last year saw a $1.3 billion net loss. After four months into […]
Despite aggressive management actions to increase revenue and reduce expenses, the fiscal year 2011 Integrated Financial Plan (IFP) results in an Operating Plan with a net loss of $6.4 billion and a cash shortfall of $2.7 billion. The 2011 IFP also includes a Capital Plan that commits $1.4 billion toward projects that focus mostly on […]