The USPS is bleeding.
Postal Service reports massive $5 billion loss -- The U.S. Postal Service released its annual financial results on Tuesday, and they're nothing to write home about. The agency reported an annual loss of $5.1 billion, as declining mail volumes and mounting benefit costs take their toll. The Postal Service said its losses would have been roughly $10.6 billion if not for the passage of legislation postponing a $5.5 billion payment required to fund retiree health benefits.
Cost-cutting car sharing.
BMW Plans Corporate Car Sharing Program -- BMW AG plans to launch a corporate-car sharing program called AlphaCity in Europe aimed at reducing costs of large company fleets, highlighting a trend among global auto makers to explore new ways of generating revenue outside their core business of selling new vehicles. BMW is currently operating a trial fleet of 60 to 70 cars in Germany, France and U.K. ahead of a broader rollout next year.
Go Home Depot.
Supply-Chain Boosts Net at Home Depot -- Home Depot Inc., which posted higher quarterly same-store sales Tuesday, said there are more opportunities to increase margins as investments in transforming the retailer's supply chain continue to pay off. The nation's largest home-improvement retailer said its rapid-deployment centers rollout has helped put more items in stock, lowered costs and boosted margins, and Chief Financial Officer Carol Tome told Dow Jones Newswires the company has more opportunities to improve the supply chain. Other improvements include working on how to move products that are manufactured outside the U.S. and optimizing some of the ways the company loads trucks, Tome said.