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Today's announcement comes as little surprise to most industry analysts. The postal service has been losing money for years, due in part to an increased use of Internet services by consumers and competition from UPS and FedEx. The USPS lost $5.1 billion in 2011 and $15.9 billion in 2012, and it is estimated that the operation loses $25 million daily. The service has also repeatedly defaulted on payments to its retiree funds totaling more than $11 billion.
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Kyle A. Richardson
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Kyle A. Richardson is the editorial director of Promo Marketing. He joined the company in 2006 brings more than a decade of publishing, marketing and media experience to the magazine. If you see him, buy him a drink.
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