post master patrick donohoe is pushing painful cost-cutting, an end to saturday mail delivery, and layingng workers could be give but. the law requires delivery saturday and delivery to 150,000 addresses nationwid not to mention union-friendly contracts prohibit the agency from laying off workers. without action some worry the post office could shut down by winter. congress created the post office in 1775. think about it, rob and tanya. the post office has survived the telegraph, the telephone, and tough competitors like fed ex. but it's the internet that might finally shut it down. >> i can't imagine life without getting mail. >> it would be weird. some people become attached to their mailman. it's kind of interesting too. apparently the white house is going to come up with some kind of rescue plan as part of that deficit reduction package, which could save the job of millions of americans. >> thank goodness because i was really getting worried there. >> that's right, you never know how long this tv gig's goingngo last. >> now you know what i'm doing during the daytime. >> running away f

testifying before a senate hearing yesterday postmaster general patrick donohoe said even with a three-monthraise the price of stamps, come on. >> it's really -- this is ridiculous. >> but part of the solution is -- come on. >> they're going to close a lot of post offices and they'll stop delivering on saturday. >> they better not close the one in pennsylvania. i heard that was happening. >> they'll close it down and no more monday delivery. let's look at the cost. the post office, 83 cents of every dollar goes to labor cost. fedex, 32 cents of every dollar goes to labor cost. let's look at reality. they have to look at the contracts they're carrying and the costs that they've incurred. >> you're right about that. >>> stopping shake-ups on wall street today affecting two of the most powerful women in american business. one of these firings happening on the phone. i have to say, i've been fired, but not on the phone. it's manly to do it in person if you have to do it. let's get a check on business before the bell. good morning, live from the new york stock exchange. >> she was fired by phone

postmaster general patrick donohoe will be among the witnesses today at the senate hearing. of the hearing, by the way, says it all, u.s. postal service in crisis, proposals to prevent a postal shutdown. gretchen, steve and brian, back to you. have a good day. >> thanks very much. i love my own postman who comes to the house and all that. we just went to the post office over the weekend and i got to tell you, it's all about the attitude in at least the workers that i encountered, you know, they walk at a snail's pace when the line is 30 people -- >> when they go to the back, they think they're going to die. >> everyone in line is like they're probably back there drinking coffee and eating donuts and it's just like the tone of the whole thing. maybe if they just picked it up a little bit, we'd have more -- >> i'd love to go there for the wanted pictures and wonder if i've seen any of those guys. nope, didn't get him and see if the fingerprints look familiar. >> i liked waiting in line 30 minutes to find the passport application was in the front of the post office. anyway, mor

earlier ali spoke to patrick donohoe that the agency wants to make so it's once again profitable. >>erating loss is about $2 billion. we have got a plan in place that requesting help from congress to eliminate the six to five-day delivery and save us $3 billion. we are making internal changes in our networks save us about 5 billion. our goal is get profitable the next three years, pay down our debt and get our finances stabilized going forward. america's mailing habits have changed. we still do a great job with advertising mail people and use us for that. they use us for packages. that is where we will be focusing going forward. >> donahoe mentioned they would like to close 300 post offices and eliminate nearly 12,000 positions. >>> coming up, the big-time ceo who says she was fired by phone. it's 22 minutes after the hour. so i'm glad it's with fidelity. they offer me one-on-one guidance to help me choose my investments. not just with my savings plan here at work. they help me with all of my financial goals. looking good, irene. thanks to fidelity, i can stay on top of my financial