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The U.S. Postal Service warned Wednesday that it may default on some of its financial obligations later this year after reporting yet another quarterly loss.
The USPS, a self-supporting government agency that receives no tax dollars, said it suffered a loss of $329 million in the first quarter of the federal fiscal year 2011. That compares with a loss of $297 million a year ago. Get the full story »
Christmas is not coming early this year for the U.S. Postal Service, after regulators denied a request Thursday that would have raised the price of a first-class stamp by 2 cents, to 46 cents.
The Postal Service argued that it needed the hike in order to cover lost revenue from a decrease in mail volume, stemming from the economic recession. Get the full story »
