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6:10 pm, October 20, 2014

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Search Tags:  David Partenheimer

USPS hits borrowing limit for first time

The U.S. Postal Service hit its $15 billion borrowing limit for the first time late last month, the agency confirmed. The Wall Street Journal first reported earlier this week that the USPS reached the limit on the amount of money it can borrow from the Treasury Department and is now dependent solely on its own revenue to sustain operations.

Tags: USPS , budget , Jack Moore , Congress , Darrell Issa

Thursday - 10/18/2012, 08:09pm EDT

USPS pension surplus due to wrong salary assumptions, IG finds

Currently, more than 70 percent of postal craft employees have already reached the top of their pay scale, according to the USPS Office of the Inspector General.

Tags: USPS , pay and benefits , retirement , Jon Foley , OPM , FERS , Jolie Lee

Wednesday - 10/17/2012, 02:37pm EDT

Some advocate for banking services as USPS savior

The Postal Service should once again offer government-backed savings and accept deposits like it did in 1911, an expert said. Those services have proved to be effective money- makers in foreign postal systems, generating up to 50 percent of their revenue.

Tags: USPS , Postal Savings System , Sheldon Garon , budget , Ruben Gomez , Princeton University , New America Foundation , management

Wednesday - 06/27/2012, 06:40am EDT
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