How bad are things at the Postal Service.
It heralded its “efficiency efforts” today while announcing it loses $244 every second of the day.
The Postal Service says it lost $1.9 billion in the second fiscal quarter, after losing $1.5 billion in the first quarter of its fiscal year.
Do the math on that:
$633 million per month
$21 million a day
$879,000 every hour
$14,660 every minute
$244 every second
The National Association of Letter Carriers today said revenue increased in the quarter.
Association spokesman Phil Dine said the Postal Service report “shows the USPS moving sharply towards breaking even” compared to previous years, the Washington Post said.
About the blogger
Bob Collins has been with Minnesota Public Radio since 1992, emigrating to Minnesota from Massachusetts. He was senior editor of news in the ’90s, ran MPR’s political unit, created the MPR News regional website, invented the popular Select A Candidate, started the two most popular blogs in the history of MPR and every day laments that his Minnesota Fantasy Legislature project never caught on.
NewsCut is a blog featuring observations about the news. It provides a forum for an online discussion and debate about events that might not typically make the front page. NewsCut posts are not news stories but reflections , observations, and debate.