Tuesday, September 13, 2005

USPS estimates hurricane damages $100 million

Direct Marketing News reports that Hurricane Katrina has inflicted more than $100 millions in damage...SO FAR.

The estimate includes damage done to buildings, vehicles, processing equipment, retail equipment and vending machines. However, the cost of forwarding mail and the drop in mail volume has not be calculated and losses will probably be much higher when that is added in.

The USPS said it will have a more solid figure by the end of the month.

According to the report, Hurricane Katrina has also dashed any hopes for a delay in the next postal rate increase which was slated early in 2006.

To read the entire article, click here.
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posted by Don Schilling at 12:01 AM