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