The United States Postal Service reported a record $15.9 billion loss in fiscal year 2012. That compares to a $5.1 billion loss last fiscal year.
Bloomberg reports that the postal service is forecast to run out of cash by Oct. 15, 2013 when it is scheduled to make a workers compensation payment to the Labor Department. The Postmaster General Patrick Donahoe painted a grim picture when he announced the loss.
New Jersey Gov. Chris Christie listens to a question in Trenton, N.J., Tuesday. He has refused to tip his hand on whether New Jersey will set up a federally mandated health insurance exchange or let the federal government handle the chores.
Moaz al-Khatib, a Muslim cleric, is the leader of the newly formed opposition group, the Syrian National Coalition. The opposition is working to build support inside Syria through Facebook and other social media.
Republican National Committee Chairman Reince Priebus rides the Mitt Romney campaign bus days before the presidential election. Despite Romney's loss and other GOP failures, Priebus, who helped the party raise huge sums of money in 2012, may seek a second term.
Originally published on Thu November 15, 2012 3:16 pm
There has been no dearth of post-election Republican self-flagellation.
Louisiana Gov. Bobby Jindal, on the eve of heading out to a meeting of Republican governors in Las Vegas, warned the GOP to "stop being the stupid party." At the gathering Wednesday night, he leveled more harsh criticism at party presidential candidate Mitt Romney.
There were 439,000 first-time claims for unemployment insurance last week, up by 78,000 from the week before, the Employment and Training Administration says. Behind the big increase: Superstorm Sandy, which threw some people in the Mid-Atlantic onto the unemployment rolls and shut down state unemployment offices the week before — meaning that some claims were postponed into last week.
Originally published on Thu November 15, 2012 5:32 pm
Update at 11:30 a.m. ET: Oil giant BP has agreed to plead guilty to criminal misconduct related to the 2010 Gulf Oil spill and will pay a record $4 billion in criminal penalties, the company just confirmed. And it will pay $525 million in civil penalties in a resolution with the Securities and Exchanges Commission. BP will make the payments over six years.