USPS Has Booming Holiday/Election Season, Only Loses $1.3 Billion In Last Quarter

How are these guys still open again?

The Postal Service cut its losses by more than half in its first quarter as mail tied to the November elections, and stronger revenue from holiday-related packages contributed to a better quarter.

The postal agency, which recently announced plans to cut back on Saturday deliveries because of financial problems, lost $1.3 billion in the October through December quarter compared with a year ago loss of $3.3 billion, officials said on Friday.

Through the bureaucratic looking glass: “We didn’t lose as much!” is a rallying cry and seen as a sign of success. If they can get that under a billion for a quarter it may become the biggest feel-good story of the Obama era.