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.
People enraged by the status quo are occupying America's public spaces. Most agree that companies wield too much influence in government -- and that we need to change that. The way to do so is to limit corporate donations to politicians -- it's not even their money to give.
If the USPS went into bankruptcy, would anyone care? Not according to former UPS board member Gary MacDougal, who argued in a scathing attack last week that "the rapid growth of email, online bill paying," and private parcel delivery firms like UPS and FedEx has made the Post Office obsolete. Statistics suggest he's right.
As the U.S. Postal Service works feverishly to close its budget gap, UPS is taking advantage of the turmoil to highlight how much more innovative its brown-clad couriers can be, compared to their blue-suited cousins.
The U.S. Postal Service released a list of nearly 3,700 post offices that it will consider shuttering. The USPS lost more than $2.2 billion last quarter, and has warned that it will run out of money in September, so such closures are probably inevitable.
With gas prices skyrocketing and natural gas initiatives on the table, it would appear that this is a great time to invest in alternative fuels. But a look under the hood suggests that green fuels might get a red light.
Would the U.S. ever consider selling the Hoover Dam, all the gold in Fort Knox, or the naming rights to the Grand Canyon? That may depend on how desperate it is to balance the budget. It certainly wouldn't be the first time a nation has considered selling its national treasures. Our partner, 24/7 Wall St, examined nine U.S. assets whose auction could take a bite out of the deficit.
Expect to pay more this year for many consumer goods -- from diapers to toothpaste to Big Macs. Just as the typical American family will finally have a few more dollars to spend, inflation will take a chunk of that extra cash.
What might happen to the price of oil and how will this affect U.S. economic growth? Here are three possible scenarios.
Wall Street shrugged off instability in Egypt to rally to a two-and-a-half year high Tuesday, boosted by encouraging economic data and better-than-expected corporate earnings.
Shares of the world's largest shipping got a 3% boost Tuesday after the company reported a healthy profit during the critical holiday shipping season. For 2011, UPS expects earnings to rise between 16 and 22%, topping the pre-recession levels of 2007.
The all-important January employment reports come out this week. Also worth watching for are a host of earnings releases, led by economic bellwhether UPS. The package deliverer is expected to post strong results.
The U.S. Justice Department has begun an investigation into the country's two largest delivery companies, UPS and FedEx. Both have policies aimed at preventing customers from negotiating lower shipping rates through third parties.
