If the USPS Is In Trouble, Why Did Mailing Industry Stocks Rise Sharply?

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Today the Postal Service reported its financial results for fiscal year 2012.    Headlines of the wire services and major newspapers all suggested that a calamity is just around the corner. Bloomberg - U.S. Postal Service on a ‘Tightrope’ Lost $15.9 Billion   Washington Post - Postal losses cap year of payment defaults, little help from Congress; more red ink in 2013   Reuters – U.S. Postal Service has record loss, sees “fiscal cliff”   Wall Street Journal - U.S. Postal Service Reports Record Loss   Associated Press - Post office reports record loss of $15.9B for year   Pittsburgh Business Times – Postal Service: ‘Far short on liquidity’   How Did Postal Industry [...] Read more »

House Schedule Ensures At Least One USPS Default This Year

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House Majority Leader, Eric Cantor has released the schedule for the last week the House of Representative is in session prior to the August recess. The schedule continues to ignore the need to take actions that would deal with the upcoming defaults by the Postal Service of payments to the Retiree Health Benefit Fund as required under the Postal Accountability and Enhancement Act. Instead the schedule includes votes on four bills associated with commemorative coins. Most other legislation with votes scheduled are either non-controversial or on the schedule as they allow Republican members of Congress to focus press attention on issues that they believe will help either all members of [...] Read more »