US Post Office in big financial trouble. They skipped pension contributions, they are laying off and forcing retirement for some 200K and they may still miss the payroll in a few months. This just confirms Standard & Poors credit downgrade to AA+. Governments with a AAA rating do not allow problems to go on for so long.
Disclosure: George Gutowski writes from a caveat emptor perspective. I hold no positions in stocks mentioned in this post. I have no plans to initiate new positions within the next 72 hours.
- USPS warns of shutdown (politico.com)
- US Post Office on the brink of default (hotair.com)
- Goodbye, Post Office, We Hardly Knew You (dailyfinance.com)
- Top Ten Surprising Government Cutbacks Get Ready #debtceiling (financialskeptic.wordpress.com)
- Amid financial crisis, USPS goes to Hill (cbsnews.com)
- How to solve the Post Office’s problems (blogs.reuters.com)
- Post Office Woes Will Help UPS (fool.com)
- Postal Service Is Nearing Default as Losses Mount (newsworldwide.wordpress.com)
- Canceled Mail: Could the U.S. Postal Service Really Close? (newsfeed.time.com)