The United States Postal Service posted a net loss of $1.1 billion in Q3 FY 2008, bringing its year-to-date net loss to $1.13 billion. USPS attributed these losses to rising fuel costs and the ailing U.S. economy. The Service also felt the burden of a $1.4-billion contribution to the Postal Service Retiree Health Benefits Fund — a requirement of the Postal Accountability and Enhancement Act of 2006 (PAEA).
In accordance with the PAEA, the Postal Service also submitted its “Network Plan” to Congress, outlining its strategy for modernization of its operations and for meeting the service standards it established in December 2007.
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