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National Briefing / NATIONWIDE

USPS faces loss of about $2 billion

August 26, 2008|From Times Wire Reports

The U.S. Postal Service could lose about $2 billion this year amid tough economic times, Postmaster General John Potter said in St. Louis.

Speaking at the National Assn. of Postmasters of the United States, Potter said the agency is grappling with issues that many businesses face, such as high fuel prices.

"We're probably going to lose somewhere in the neighborhood of $2 billion this year," he said. "If we don't act, we'll lose $2 billion or more the following year."

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