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Postal Rate Increase More Likely

Press release from the issuing company

According to ABM, On February 6, the Postal Service Board of Governors virtually confirmed rumors of another postal rate case this year. Projecting a $2-3 billion loss for fiscal year 2001, the Governors announced a capital expenditure reduction, a thorough review of all programs and projects and their instructions to management to "begin preparing a rate case as soon as possible." As we reported last week, that could mean a rate filing with the Postal Rate Commission as early as this July, with new and presumably much higher rates to take effect during the summer of 2002. ABM representatives have are already meeting with top USPS officials to look for ways to mitigate the next Periodicals increase.