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VOL. 36 | NO. 47 | Friday, November 23, 2012




Postal chief lays out plan for agency survival

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WASHINGTON (AP) — The head of the financially struggling U.S. Postal Service says the agency must be allowed to ease the terms of prepayments into a retiree health care fund and eliminate general mail delivery on Saturday.

Patrick Donahoe tells "CBS This Morning" the agency isn't asking Congress for money.

He says, "I think most people don't realize, we're 100 percent self-sufficient. We pay our own way." But the postal chief notes the agency is losing $15.9 billion this year.

Donahoe says the post office needs to refinance retirement health fund payments to $1 billion a year instead of $5 billion.

He says the Postal Service would continue package delivery on Saturday and keep post offices open. In this scenario, he says the agency could be $8 billion in the black each year.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 0 0 0
MORTGAGES 0 0 0
FORECLOSURE NOTICES 0 0 0
BUILDING PERMITS 0 0 0
BANKRUPTCIES 0 0 0
BUSINESS LICENSES 0 0 0
UTILITY CONNECTIONS 0 0 0
MARRIAGE LICENSES 0 0 0