Direct Line Blog

Postal Service 'on the brink of financial collapse,' says 'Washington Post'

Share this article:

The US Postal Service is “teetering on the brink of financial collapse and is very close to running out of money,” according to the Washington Post's Federal Eye blog. Earlier this week, Congress decided not to give the USPS billions of dollars in financial relief, as it has done the past two years.

The Post's Ed O'Keefe reports that “Postmaster General John Potter cancelled a meeting scheduled [September 29] with reporters and is huddling with aides as he determines what to do. Conversations with several people in the know suggest he has two options: Pay the $5.5 billion or don't pay it. Either way, the Postal Service is in a bad place.”

Postal Service officials said this summer that “given current trends, we will not be able to pay all 2011 obligations.” This week's news seems to have moved that possibility up a year.

Share this article:
You must be a registered member of Direct Marketing News to post a comment.
close

Next Article in Direct Line Blog

Sign up to our newsletters

Latest Jobs:


Company of the week

Data Services, Inc. meets the needs of today's data-driven marketer by providing front-end database management and data analytics platforms alongside our expertise in global contact data quality, database building and ongoing maintenance that comes with our 45+ years in business.


Find out more here »

More in Direct Line Blog

The USTA's Strategy to Ace the Customer Experience

The USTA's Strategy to Ace the Customer Experience

The US Open may be the organization's centerpiece, but its CX strategy is a year-round endeavor.

One Town That Will Track You Down

One Town That Will Track You Down

Chicago is outfitting its streets with censors that track traffic patterns and cell phone usage. Hey, can you get Wi-Fi widdat?

Gaming Companies Excel at Engaging GenY

Gaming Companies Excel at Engaging GenY

Connecting with millennials isn't as hard as marketers think, and these companies are proving it.