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The USPS said that the loss would have been much larger had the government not intervened. Fiscal year 2011, which ended on Sept. 30, was projected to have a $10.6 billion loss until the White House endorsed a plan to restructure the Postal Service days before the deadline. Part of that plan allowed the USPS to postpone payment of $5.5 billion toward a retiree benefit fund; unless Congress enacts further legislation, that payment will become due on Friday, Nov. 18. The USPS has stated it would default on that payment.
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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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