Hot Rod Stamps To Be Unveiled In York During Street Rods Event

Map of Pennsylvania highlighting York County (Photo credit: Wikipedia)

The street rods are returning to York in June, and this year’s event will include two new car-themed stamps issued by the U.S. Postal Service.

Postmaster General Patrick Donahoe and Barry Meguiar, host of the TV show “Car Crazy,” will be in York to unveil the Forever stamps at 11 a.m. June 6 as part of the 41st annual Street Rod Nationals East Plus at the York Expo Center.

The stamps feature two views of the classic 1932 Ford Deuce roadster. The car is notable because it marked the first time Ford used an eight-cylinder engine, the flathead V8, said Jerry Kennedy, special events director for the National Street Rod Association. Previous Ford models used a four-cylinder engine.

Read more:  http://www.ydr.com/local/ci_25843732/u-s-postal-service-unveil-hot-rod-stamps

Post Office Reports Loss Of $5 Billion For Year

USPS service delivery truck in a residential area of San Francisco, California (Photo credit: Wikipedia)

WASHINGTON (AP) – The U.S. Postal Service said Friday it lost $5 billion over the past year, and postal officials again urged Congress to pass legislation to help the beleaguered agency solve its financial woes.

In a positive sign, the loss was a fraction of the record $15.9 billion the Postal Service reported losing last year. But it was still the agency’s seventh straight annual loss and came despite its first growth in revenue since 2008.

Operating revenue rose 1.2 percent to $66 billion, thanks to growth in the post office’s package delivery business and higher volume in standard mail. That was not enough to offset long-term losses in first class mail – the post office’s most profitable service – where revenues declined by 2.4 percent.

Read more at http://www.philly.com/philly/business/20131115_ap_bec035dfa75648f5a1f03a745ca1eb46.html#OcVHlq2UB7XQFb1U.99

Postal Service Bracing For Default

USPS service delivery truck in a residential area of San Francisco, California (Photo credit: Wikipedia)

WASHINGTON – The U.S. Postal Service is bracing for a first-ever default on billions in payments due to the Treasury, adding to widening uncertainty about the mail agency’s solvency as first-class letters plummet and Congress deadlocks on ways to stem the red ink.

With cash running perilously low, two legally required payments for future postal retirees’ health benefits – $5.5 billion due Wednesday, and another $5.6 billion due in September – will be left unpaid, the mail agency said Monday. Postal officials said they also are studying whether they may need to delay other obligations. In the coming months, a $1.5 billion payment is due to the Labor Department for workers compensation, which for now it expects to make, as well as millions in interest payments to the Treasury.

Read more: http://readingeagle.com/article.aspx?id=404934

Postal Service: Scranton Distribution Facility To Close Next Year

USPS service delivery truck in a residential area of San Francisco, California (Photo credit: Wikipedia)

The U.S. Postal Service on Thursday reaffirmed its intention to close the processing and distribution facility on Stafford Avenue in Scranton.

The nearly bankrupt agency unveiled plans to consolidate 140 mail processing operations over the next year, including the Scranton plant. The facility employs 300 people, and the mail service plans to transfer the work to a center near Allentown.

“The plan is under review to move operations to the other facility beginning after January 2013,” Ray Daiutolo, regional spokesman for the postal service, said in an email.

The revelation came as Congress remains deadlocked over a postal reform bill, assuring more political activity over the agency’s future.

Read more: http://thetimes-tribune.com/news/business/postal-service-scranton-distribution-facility-to-close-next-year-1.1316809