USPS Bleeds Red!
We've chronicled the coming travails of the US Postal Service in this past post here: http://lumencapital.blogspot.com/2009/06/going-postal.html Now Direxion Funds in their "By The Numbers" series puts these problems into monetary focus.
BLAME THE INTERNET - In the current 2010 fiscal year (i.e., the 12 months from 10/01/09 to 9/30/10), the US Postal Service expects to lose $7.8 billion. Total mail volume in the 2010 fiscal year is projected to be 166 billion pieces of mail, down nearly 37 billion pieces since fiscal year 2008 (source: Postal Service).
Link: http://marketing2.direxionfunds.com/?elqPURLPage=7&elq=58536c6fa6ee4143a06acb9726d6fc88
BLAME THE INTERNET - In the current 2010 fiscal year (i.e., the 12 months from 10/01/09 to 9/30/10), the US Postal Service expects to lose $7.8 billion. Total mail volume in the 2010 fiscal year is projected to be 166 billion pieces of mail, down nearly 37 billion pieces since fiscal year 2008 (source: Postal Service).
Link: http://marketing2.direxionfunds.com/?elqPURLPage=7&elq=58536c6fa6ee4143a06acb9726d6fc88
posted by CR English at 8:17 AM
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