PostalService

The cash-strapped U.S. Postal Service said Monday it is seeking to move quickly to close 252 mail processing centers and slow first-class delivery next spring, citing steadily declining mail volume. The cuts are part of $3 billion in reductions aimed at helping the agency avert bankruptcy next year.

It'll cost a penny more to mail a letter next year. The cash-strapped U.S. Postal Service announced Tuesday that it will increase postage rates on Jan. 22, including a one-cent increase in the cost of first-class mail, to 45 cents.

On Tuesday, Postmaster General Patrick Donahoe went before the Senate Homeland Security and Governmental Affairs Committee to plead for a government bailout. USPS is losing $9.2 billion a year and is currently on track to lose $20 billion annually by 2015. How can it be saved?

Postmaster General Patrick Donahoe warned that the Postal Service is on "the brink of default" as he battles to keep his agency solvent. Without legislation by Sept. 30, the agency "will default on a mandated $5.5 billion payment to the Treasury," Donahoe told the Senate Homeland Security and Governmental Affairs Committee on Tuesday.

The financially strapped U.S. Postal Service is considering cutting as many as 120,000 jobs. Facing a second year of losses totaling $8 billion or more, the agency also wants to pull its workers out of the retirement and health benefits plans covering federal workers and set up its own benefit...

In DailyFinance's new video series, My Three Cents, personal finance columnist Regina Lewis discusses tips and trends affecting today's consumer market. This week's focus: continuing trouble at the U.S. Postal Service.

What did you get in the mail today? Not much, I'll bet. In the wake of an announcement by the U.S. Postal Service that it was considering eliminating Saturday mail service, I did an informal survey of U.S. mail recipients I know. Here are my results: Single, middle-aged woman living in an...

Tired of the endless stream of junk in your mailbox? You're not alone. "I dread going to the mailbox," says Katie Hough, a Midwest mom. "It's rare that I get something that's addressed to me and not the 'current resident.'" Hough's mailbox, like those across the country, sees an average 1.5...

In our latest Savings Experiment, we find the best way for you to ship your holiday packages that will get them there fast, make it easy for you and not cost a fortune.

As if Detroit didn't have enough bad news. Someone saw 37-year-old James Stempnik Jr. putting a bin of unopened mail in the trunk of his car. Investigators found more than 20,000 pieces of mail stashed in Stempnik's garage, car and home. After reading this piece of news, all I wondered is if this...