Archive for November 19th, 2012

USPS Loses $15.9 Billion — But Bosses Get Hefty Compensation Raises


Monday November 19th, 2012   •   Posted by K. Lloyd Billingsley at 9:01am PDT   •   21 Comments

In October we noted that the U.S. Postal Service (USPS) had recently defaulted on a $5.6 billion mandate to pre-fund retiree health benefits, the second time in two months the USPS had failed to deliver. In August it failed to make a $5.5 billion retirement prepayment slated for last September, which Congress conveniently deferred....
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