The United States Postal Service reported a record $15.9 billion loss in fiscal year 2012. That compares to a $5.1 billion loss last fiscal year.
Bloomberg reports that the postal service is forecast to run out of cash by Oct. 15, 2013 when it is scheduled to make a workers compensation payment to the Labor Department. The Postmaster General Patrick Donahoe painted a grim picture when he announced the loss.
Originally published on Thu November 15, 2012 4:16 pm
There has been no dearth of post-election Republican self-flagellation.
Louisiana Gov. Bobby Jindal, on the eve of heading out to a meeting of Republican governors in Las Vegas, warned the GOP to "stop being the stupid party." At the gathering Wednesday night, he leveled more harsh criticism at party presidential candidate Mitt Romney.
These days it's not unusual to find classical musicians performing in unlikely venues — pubs, clubs and out-of-the-way places. But long before this trend took hold there was Matt Haimovitz. Ten years ago, the intrepid cellist lugged his instrument across the country, bringing music by J.S. Bach to barrooms, coffeehouses and even Manhattan's famous punk club CBGB.
There were 439,000 first-time claims for unemployment insurance last week, up by 78,000 from the week before, the Employment and Training Administration says. Behind the big increase: Superstorm Sandy, which threw some people in the Mid-Atlantic onto the unemployment rolls and shut down state unemployment offices the week before — meaning that some claims were postponed into last week.