From Bloomberg:
The U.S. Postal Service, whose request for a rate increase was turned down this week, had a $6 billion loss in the fiscal year that ended yesterday, Postmaster General John Potter said.
The agency, which sought permission from its regulator to raise rates an average of 5.6 percent, had forecast a loss of $7 billion in the 2010 fiscal year. The loss is before a $2 billion non-cash adjustment for workers’ compensation liability, which is increasing because of lower interest rates, Potter told reporters today in Washington.
The Postal Service paid a required contribution to a fund for future retiree health benefits and may spend through its cash in the 2011 fiscal year, Potter said.
“Cash will be tight going through the year, particularly at the beginning of the year,” he said. The Postal Service could “literally run out of cash in September 2011 because we will have exhausted all of our borrowing authority.”
To contact the reporter on this story: Angela Greiling Keane in Washington at agreilingkea@bloomberg.net
To contact the editor responsible for this story: Larry Liebert at lliebert@bloomberg.net.
but can you please tell me how to make a PM i looked everywhere on this site but i cant find anything about it....
I still have the 7 Pot, Trinidad Scorpion, and Naga plants going - I'll let them go until frost. Unfortunately, I am now out of pods that I can send out - sorry that I couldn't accomodate all of the requests. KCSO53, Chili Monsta, Lucky Dog, Siling_Labuya, kamo33, roper 2008, and Downriver should be on the look out for a package - I sent about 1/2 today and have the rest packaged up. Take care.
