Postal service reports $354 million first-quarter loss - 13abc.com Toledo (OH) News, Weather and Sports

Postal service reports $354 million first-quarter loss

Posted: Updated:

WASHINGTON (AP) - The Postal Service says it lost $354 million over the last three months and that mounting losses could lead to cash flow problems for the rest of the year.
    
The report for the financial quarter ending December 31 comes as lawmakers in Congress work toward fixing the agency's troubled finances.
    
Officials say there was continued growth in revenue from package delivery, but first class mail continues to decline.
    
The Postal Service has been urging Congress to end Saturday mail delivery as it copes with steep financial losses. It lost $5 billion in the last fiscal year, down from $15.9 billion in 2012.
    
The agency recently won approval to temporarily raise the cost of a first-class stamp from 46 to 49 cents. The higher rate began Jan. 26.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

  • Top StoriesMore>>

  • Humane Society: Unethical for investigator to keep rescued horses

    Humane Society: Unethical for investigator to keep rescued horses

    Sunday, August 31 2014 11:18 PM EDT2014-09-01 03:18:39 GMT
    A fight is brewing over two horses rescued by the Humane Society of Sandusky County.
    A fight is brewing over two horses rescued by the Humane Society of Sandusky County.
  • Libraries closed, trash pick up pushed back for Labor Day

    Libraries closed, trash pick up pushed back for Labor Day

    Sunday, August 31 2014 9:53 PM EDT2014-09-01 01:53:34 GMT
    Just a reminder that Labor Day is a national holiday, so expect all banks, Post Offices and government offices to be closed on Monday.
    Just a reminder that Labor Day is a national holiday, so expect all banks, Post Offices and government offices to be closed on Monday.
  • No human cases of the West Nile Virus in Michigan this year

    No human cases of the West Nile Virus in Michigan this year

    Monday, September 1 2014 6:17 AM EDT2014-09-01 10:17:22 GMT
    EAST LANSING, Mich. (AP) - Just two years after 17 deaths, Michigan so far is reporting no human cases of West Nile virus in 2014.A snowy winter and wet spring might lead to more mosquitoes, the carrier of West Nile. But that doesn't automatically translate into a greater risk for getting the virus.Ned Walker, an expert at Michigan State University, says the virus needs hot weather to become potent. The National Weather Service reports only a handful of days of 90 degrees or higher since June...
    EAST LANSING, Mich. (AP) - Just two years after 17 deaths, Michigan so far is reporting no human cases of West Nile virus in 2014.A snowy winter and wet spring might lead to more mosquitoes, the carrier of West Nile. But that doesn't automatically translate into a greater risk for getting the virus.Ned Walker, an expert at Michigan State University, says the virus needs hot weather to become potent. The National Weather Service reports only a handful of days of 90 degrees or higher since June...

Area Events Calendar

See It, Shoot It, Send It!