USPS Posts $1.9B in Red; 20th Loss in Last 22 Quarters
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“Some comments in recent news reports suggest that all we need from Congress is help with restructuring our retiree health benefit plan,” said CFO and Executive Vice President Joseph Corbett. “Nothing can be further from the truth. Our liabilities exceed our assets by $42 billion and we have a need for more than $10 billion to invest in new delivery vehicles, package sortation equipment and other deferred investments.”
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