The Check's Still Not In The Mail

When Marvin T. Runyon took over the U.S. Postal Service in 1992, the former Ford Motor Co. executive pledged to whip the $47 billion outfit into fighting trim. He announced plans to slash layers of management and an early retirement program designed to trim the 700,000-strong workforce. The ambitious goals: Improve customer service, wipe out the Post Office's deficit, and keep rate hikes below the inflation rate.

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