A Lady's Ruminations

"Jane was firm where she felt herself to be right." -Jane Austen, Pride and Prejudice

Tuesday, September 27, 2005

The Expensive Yellow Jersey

Perhaps they should stop sponsoring Lance Armstrong.

AP: Postal Service Expects $2B Deficit in '06---

WASHINGTON - Even with a planned postage rate increase, the Postal Service expects to go nearly $2 billion in the red next year.

Postal Chief Financial Officer Richard J. Strasser told the agency's board of governors on Tuesday that rising costs will result in a $1.8 billion deficiency in 2006.

The agency plans a 5.4 percent rate increase in January, which would raise the cost of sending a first-class letter by two cents — to 39 cents.

"We project revenue of $72.3 billion, an increase of 3.4 percent, to be offset by a like percentage increase in expenses," he said.