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POSTAL

USPS Loses $5.2 Billion

Running out of cash.

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The beleaguered U.S. postal service posted a loss of $5.2 billion on Thursday, and said it would soon be out of government cash and credit. Major annual losses for the service could lead to scaled back, or even suspended, mail delivery, unless Congress acts to extend funding. "We will do everything we need to do to make sure the mail is delivered," Postmaster General Patrick Donahoe told the Wall Street Journal. "Congress needs to act responsibly and move on this legislation." The postal service has closed many offices this year, and plans to shut 92 more mail-processing plants by the end of this year.

Read it at The Wall Street Journal

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