Wednesday, February 06, 2013 12:23 pm
News Summary: Postal Service to cut Saturday mail
By The Associated Press
POSTAGE DUE: The agency in November reported an annual loss of a record $15.9 billion for the last budget year and forecast more red ink in 2013.
FIRST-CLASS WOE: The agency's biggest problem - and the majority of the red ink in 2012 - was due to mounting mandatory costs for future retiree health benefits, accounting for $11.1 billion in losses.