Weekly News via Email
   Set as homepage | Add to favorites | Customer Service | Subscribe Now | Place an Ad | Contact Us | Sitemap Friday, 02.23.2018
News Archive
Su Mo Tu We Th Fr Sa
 1  2  3  4  5  6  7
 8  9  10  11  12  13  14
 15  16  17  18  19  20  21
 22  23  24  25  26  27  28
 29  30  31
Online Extras
Site Services
Around Bend
Outdoor Fun
Travel Info
Shop Local

Members Of

Poll: Today's Live Poll
Email to a friend | Print this | PDF version | Comments (0 posted) 
  Blogger |   del.icio.us |   digg |   newsvine

Mar 06,2009
USPS buys $1.2 million home
by UPI

COLUMBIA, S.C. - The U.S. Postal Service purchased a relocated employee's $1.2 million home at the same time it says it faces a financial crisis, a CNN probe has revealed.

The purchase of the six-bedroom mansion near Columbia, S.C., is prompting scrutiny of how the postal service handles employee relocations, CNN reported Friday.

"It's not like we threw away a million dollars," said postal service spokesman Greg Frey. "We are hoping it's going to go for the appraised value."

However, a local real estate agent told CNN that reselling the home could be difficult given the state of the housing market.

The USPS has said it lost an average of more than $58,000 on the 500-plus homes its relocation program bought and sold in 2008.

In February, a $1 million cap took effect for home purchased under the relocation program.

Just weeks before purchase of the South Carolina home, Postmaster General John Potter told a congressional subcommittee that the post office is considering cutting back mail delivery.

© 2009 United Press International. All Rights Reserved.

778 times read

Related news
U.S. Postal Service to lose $1 billion by UPI posted on Mar 07,2008

Nation gets sneak peak of the 'Forever Stamp' by Bend_Weekly_News_Sources posted on Mar 26,2007

Company Helps Families With Home Ownership by NewsUSA posted on Feb 09,2006

Bend Council passes mobile home relocation ordinance by Bend Weekly News Sources posted on May 21,2006

More women looking to buy homes by Jim_Woodard posted on Feb 01,2008

Did you enjoy this article? Rating: 4.81Rating: 4.81Rating: 4.81Rating: 4.81Rating: 4.81 (total 16 votes)

Market Information
Breaking News
Most Popular
Most Commented
Featured Columnist
Horoscope Guide
Aquarius Aquarius Libra Libra
Aries Aries Pisces Pisces
Cancer Cancer Sagittarius Sagittarius
Capricorn Capricorn Scorpio Scorpio
Gemini Gemini Taurus Taurus
Leo Leo Virgo Virgo
Local Attractions
Bend Visitors & Convention Bureau
Bend Visitors & Convention Bureau

Mt. Bachelor Resort
Mt. Bachelor Resort

Les Schwab Ampitheater
Les Schwab Ampitheater

Deschutes County Fairgrounds
Deschutes County

Tower Theatre
Tower Theatre

The High Desert Museum


Deschutes County

  Web    BendWeekly.com
© 2006 Bend Weekly News
A .Com Endeavors, Inc. Company.
All Rights Reserved. Terms under
which this service is provided to you.
Please read our Privacy Policy. Contact us.
Bend Weekly News & Event Guide Online
   Save the Net
External sites open in new window,
not endorsed by BendWeekly.com
Subscribe in NewsGator Online
Add to Google Add to MSN Add to My AOL
What are RSS headlines?