“The U.S. Postal Service’s net loss widened to $5.2 billion during the April through June period, and the cash-strapped agency warned on Thursday that without help from the U.S. Congress it will face low cash and be unable to borrow money this fall.  The mail agency defaulted last week on a legally required $5.5 billion payment for future retiree health benefits, and its inspector general said the Postal Service could face a $100 million cash shortfall in mid-October.  Officials called on Congress to pass postal legislation that would overhaul the mail agency’s business model and offer some relief from its dire financial situation.”

http://news.yahoo.com/u-postal-loses-5-2-billion-warns-low-144822348–sector.html

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