Small business news-to-watch and of-interest. Okay, ‘it’ has hit the fan, now what? Read update, “nothing much will change”, uh, I think it will folks!
Excerpt: The U.S. Postal Service essentially went broke today. It skipped a $5.5 billion payment to the U.S. Treasury for future retiree health-care payments and said it would do the same early next month when another $5.6 billion is due. This comes as no surprise. The USPS has been losing $25 million each day, due in large part to the decline of first-class mail. But the service—which dates back to the days of Ben Franklin—now finds itself in uncharted territory. The USPS issued a statement earlier in the week assuring the public that nothing much would change. “
Read full article via What the U.S. Postal Service Default Really Means – Businessweek.