AP corrects story, says “increases in compensation and benefit costs” DIDN’T cause USPS “loss”

The Associated Press has issued a correction to the story it published on Monday about the USPS quarterly financial report:

In a story Aug. 11 about U.S. Postal Service Revenues, The Associated Press reported erroneously that the agency blamed its $2 billion loss for the quarter ending June 30 on increases in compensation and benefit costs.

Despite the correction, however, the AP still got their story wrong…

Although those costs did increase slightly, the overall loss reflected the agency spending $18.4 billion in operating costs against revenues of $16.5 billion.

… ignoring the fact that the entire loss was due to $2 billion in PAEA required non-cash accounting entries.

Read more: Correction: Postal Service-Losses story – The Washington Post.

  • Tony

    And there folks is the Postal Service’s problem in a nutshell! No outside entity understands the real problems facing the Service at all! Here it is… When a bunch of greed driven egomaniacs get together and see that money is to be made here, they then do everything in their power to create diversions causing the average Joe and Jane to believe what they are spoon fed. Unfortunately, Joe and Jane are working too hard to find the time to care as they are too busy struggling to keep their heads above water to care about the Postal Service. If the Postal Service fails, then it can happen to any business private or public! God Help Us!