X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

All finance executives are under the gun these days as they navigate the minefields of the credit crisis and a global recession. But even in the current environment, Joe Corbett faces a particularly nettlesome set of problems.

Corbett is CFO of the U.S. Postal Service, whose $70 billion in 2008 revenue ranks it as roughly the 25th largest U.S. company. But its revenue is suffering these days as mail volume, already under pressure from the long-term trend toward electronic communication, swoons amid the economic slowdown. In the first three quarters of the Postal Service’s current fiscal year, mail volume declined by 20 billion pieces, down 12.6% from the same period last year. The Postal Service expects to have accumulated a deficit of $7 billion by its Sept. 30 year-end and estimates it will then face a $700 million cash shortfall.

Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.

Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM websites including PropertyCasualty360.com and Law.com.

Already have an account?

Treasury & Risk

Join Treasury & Risk

Don’t miss crucial treasury and finance news along with in-depth analysis and insights you need to make informed treasury decisions. Join Treasury & Risk now!

  • Free unlimited access to Treasury & Risk including case studies with corporate innovators, informative newsletters, educational webcasts, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM publications including PropertyCasualty360.com and Law.com.

Already have an account? Sign In Now
Join Treasury & Risk

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.