USPS Posts $1.9 Billion Loss

The U.S. Postal Service ended its second fiscal quarter with a net loss of $1.9 billion. The Postal Service has now lost money for 10 of the last 11 quarters, and warns of a year-end cash shortfall of more than $1.5 billion. Year-to-date, the net loss is $2.3 billion, compared to the $35 million loss in the same period of 2008. Mail volume has dropped by 13 billion pieces, which translates to a revenue loss of $3.3 billion