Subscribe Register Login

Monday, July 28, 2014, 10:04 a.m.
Top Picks - Mobile App

Postal chief lays out plan for agency survival

By The Associated Press

This article was published November 28, 2012 at 8:26 a.m.

— The head of the financially struggling U.S. Postal Service says the agency must be allowed to ease the terms of prepayments into a retiree health-care fund and eliminate general mail delivery on Saturdays.

Patrick Donahoe told CBS This Morning that the agency isn’t asking Congress for money.

He said, “I think most people don’t realize, we’re 100 percent self-sufficient. We pay our own way.”

But, the postal chief notes, the agency is losing $15.9 billion this year.

Donahoe said the post office needs to refinance retirement health-fund payments to $1 billion a year instead of $5 billion.

He said the Postal Service would continue package delivery on Saturdays and keep post offices open. In this scenario, he says, the agency could be $8 billion in the black each year.

Comments on: Postal chief lays out plan for agency survival

To report abuse or misuse of this area please hit the "Suggest Removal" link in the comment to alert our online managers. Read our Terms of Use policy.

Subscribe Register Login

You must login to make comments.

TOP JOBS

  • Tree tirmmers

    27-temporary Tree Trimmers & Pruners Position: 10/1/14- 12/1...
    LITTLE ROCK, AR

  • Material handlers

    Ready? Set? go! we take industrial staffing seriously. $10-...
    Little Rock, AR

  • Teacher- the mcgehee school

    teacher-The McGehee School District is accepting application...
    MC GEHEE, AR

  • Dishwasher, backup

    dishwasherlocal retirement center seeking dependable person,...
    LITTLE ROCK, AR

  • Education

    pulaski technical college in North Little Rock, Arkansas, th...
    LITTLE ROCK, AR

Search 893 jobs >

Top Picks - Mobile App
Arkansas Online