Sour Q1 for USPS; Could Default on Obligations
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“The Postal Service continues to seek changes in the law to enable a more flexible and sustainable business model,” said Postmaster General and CEO Patrick Donahoe. “We are eager to work with Congress and the Administration to resolve these issues prior to the end of the fiscal year.”
According to the USPS, economic indicators suggest that the worst of the precipitous volume decline during the recession is over. Total mail volume increased by 707 million pieces or 1.5 percent for the first quarter of 2011, compared to the first quarter of 2010. Total mail volume remains well below the 2006 peak.
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