Oldham Blog 10

The Postal Service Ends 2009 With $3.8 Billion Loss

United States Postal Service had one of the most difficult years in postal service history. They will file their 2010 Integrated Financial Plan later this week that will outline the goals for the coming year. In 2009 the operating revenue was $68.1 billion compared to $74.9 billion in 2008. USPS had a net loss of $3.8 billion compared with 2008 net loss of $2.8 billion. Forty thousand careers were reduced. "We're grateful to Congress and the Administration for the necessary 2009 adjustment to our retiree health payment," said Postmaster General John Potter. "This was a welcome and much-needed change to assure that the Postal Service was able to meet all of its obligations at the end of the fiscal year and over the course of 2010.

At first I wasn’t sure how the USPS could be suffering in this recession but I believe the factors to why the postal service is losing money isn’t dependent on the recession. I think a large contributing factor is that it is less expensive to send electronic copies of things. People are also becoming more aware of the environment and not wasting its resources.

http://www.prnewswire.com/news-releases/postal-service-ends-2009-with-38-billion-loss-70211832.html