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U.S. Postal Service: Escalating Financial Problems Require Major Cost Reductions to Limit Losses: Congressional Testimony
U.S. Postal Service: Escalating Financial Problems

 
Our Price: $15.00
By Phillip Herr (au)
Year: 2009
Pages: 20
Binding Paperback

Product Code: 1437916120

Description
 
USPS's financial condition has deteriorated. Mail volume declined by a record 9.5 billion pieces (4.5%) in FY 2008, leading to a loss of $2.8 billion -- the second largest since 1971. This was largely due to declines in the economy, esp. in the financial and housing sectors, as well as shifts in transactions, messages, and advertising from mail to electronic alternatives. Declining mail volume flattened revenues despite rate increases, while USPS's cost-cutting efforts were insufficient to offset the impact of declining mail volume and rising costs in fuel and cost-of-living allowances for postal employees. This testimony focuses on: (1) USPS's financial condition and outlook; and (2) options for USPS to remain financially viable in the short and long term. Illus.

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