U.S. Postal Service

WASHINGTON, August 5, 2009 — The U.S. Postal Service ended its third quarter (April 1 – June 30) with a net loss of $2.4 billion, including a non-cash adjustment that increased workers’ compensation expense by $807 million. Ongoing electronic diversion and the widespread economic recession continued to reduce mail volume, resulting in a $1.6 billion decrease in revenue for the quarter.

July 14, 2009, The Washington Post — A House committee has thrown the U.S. Postal Service a lifeline, but it won't be substantial enough to allow the agency to fully escape the financial quicksand pulling it under.