Government Management Prowess on Display

Unidentified Congressmen Overseeing Post Office

WASHINGTON, Aug 5 (Reuters) - The U.S. Postal Service reported a quarterly net loss of $3.5 billion on Thursday and said it will likely have a cash shortfall going into 2011. The agency, which delivers nearly half the world's mail, has reported net losses in 14 of the last 16 fiscal quarters. Revenue in the third quarter that ended June 30 fell $294 million to $16 billion from a year ago, while expenses were $789 million higher at $19.5 billion, due largely to higher workers' compensation costs and retiree health benefits. Read more here:

Government Management Prowess on Display