Fourth Quarter 2021 Financial Highlights: • Total revenues of $826.5 million decreased 5.6% compared to the prior year quarter ◦ Same store revenues(1) decreased 4.3% compared to the fourth quarter of 2020 • Total digital revenues were $272.6 million or 33% of total revenues, up 5.0% over the same period in the prior year on a same store(1) basis • Net loss attributable to Gannett of $22.4 million and margin loss of 2.7% • Cash used for operating activities of $5.9 million and free cash flow(1) usage of $18.2 million
Yet another effort is underway in Congress to eliminate the costly prefunding of U.S. Postal Service retiree healthcare benefits that have been an albatross for the USPS since a 2006 reform measure, and this time appears to have some more bipartisan momentum.
A reform act that would eliminate the prefunding, which has cost the USPS many billions over the years, passed the House in 2020 but was hung up in the Senate. Now senators Brian Schatz (D-HI) and Steve Daines (R-MT) have reintroduced the measure, according to Federal News Network.
A companion bill has been proposed by House Oversight and Reform Committee Chairwoman Carolyn Maloney (D-NY) and House Transportation and Infrastructure Committee Chairman Peter DeFazio (D-OR), along with Reps. Brian Fitzpatrick (R-PA), Tom Reed (R-NY) and Colin Allred (D-TX).
more at source: https://multichannelmerchant.com/operations/congress-seeks-to-cut-usps-prefunding/