Auctionbytes-NewsFlash, Number 38 - March 11, 2001 - ISSN 1539-5065
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U.S. Universal Mail Service is at Risk; USPS Faces $3 Billion Loss
By Ina Steiner AuctionBytes.com March 11, 2001
The Postal Service is warning Congress that it must have more flexibility in changing rates and services to cope increasing costs and competition. (It currently takes about a year to change rates.) The Postal Service is facing a potential loss of $2 billion to $3 billion this fiscal year, due to costs rising at a faster rate than mail volume and revenue growth. The Postal Service Board froze nearly all new construction, new leasing and expansion facility contracting for fiscal year 2001. It warned that universal mail service - the regular delivery of mail to every address across the country at uniform and affordable rates - is at risk.
http://www.usps.gov/news/breaking.htm