U.S. Postal Service on a ‘Tightrope’ Lost $15.9 Billion - Bloomberg

U.S. Postal Service on a ‘Tightrope’ Lost $15.9 Billion - Bloomberg: The U.S. Postal Service said its net loss last year widened to $15.9 billion, more than the $15 billion it had projected, as mail volume continued to drop, falling 5 percent.
Enlarge image U.S. Postal Service on ‘Tightrope’ Loses $15.9 Billion in 2012

Mail sits at the U.S. Postal Service processing and distribution center in Merrifield, Virginia. Photographer: Andrew Harrer/Bloomberg

Without action by Congress, the service will run out of cash on Oct. 15, 2013, after it makes a required workers compensation payment to the U.S. Labor Department and before revenue typically jumps with holiday-season mailing, Chief Financial Officer Joe Corbett said today.

See original work for more on this and other stories.