U.S. to Close 3,700 Post Offices

Your local post office may soon be a relic. The U.S. Postal Service has declared that as many as 3,700 post offices will be closed across the country, following an announcement in January that the service had suffered net losses of $8.5 billion in fiscal year 2010, a huge spike in comparison with the $3.8 billion lost in the previous year. "The Postal Service of the future will be smaller, leaner, and more competitive, and it will continue to drive commerce, serve communities, and deliver value," said Postmaster General Patrick Donahue. Closings are slated to begin in the next four to six months.