United States Postal Service: Need for Reform Schooling

That's little consolation to one of the nation's oldest institutions. Moving forward, things look even worse for the post office. The USPS is facing a possible loss of $7.8 billion in 2010, even after implementing cost-cutting initiatives that would slice away $3.8 billion.

"When you talk about losses at the $7.8 billion level, there's not one fix anywhere that is going to bring us back to profitability," states Joseph Corbett, CFO of the USPS.