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Money in News: Post Service Cutting 28,000 jobs, Wesley Snipes Tax Evasion, Blackberry Losing $485 million

CNN Money posts about how the Postal Service is planning slower service and cutting 28,000 jobs.

The financially troubled agency officially proposed the change to its regulator, changing its national standard for regular first-class mail — mail that requires a 44-cent stamp for the first ounce — to two to five days from the current one to three.

The measure is tied to a plan to slash hundreds of mail processing facilities, which would mean that 28,000 postal workers could be out of a job by the end of next year.

LegalZoom posts about how Wesley Snipes may be going to jail for failing to file tax returns.

The decades’ long battle between action star Wesley Snipes and the IRS reached an abrupt conclusion last week when a 3-judge federal appeals court panel upheld Snipes’ three-year prison sentence for failing to file tax returns between 1999 and 2001.

Artechnica posts about how the blackberry playbook is costing the company $485 million.

The company is offering the troubled tablet for dramatically discounted prices through Dec. 3. Prices were slashed $300 across the product line-up, and quickly sold out at retailers like Best Buy by last week’s Black Friday. Nonetheless, RIM announced today that it’s recognizing “a pre-tax provision in the third quarter of fiscal 2012 of approximately $485 million, $360 million after tax, related to its inventory valuation of BlackBerry PlayBook tablets.”

The Consumerist posts about a woman who saved $1,000 in less than 3 months.

Serendipity’s Guide to Saving details the author’s three-month quest to cobble together a four-figures nest egg with several nips and tucks.

Her methods included packing her lunch rather than going out to eat, banning herself from buying new clothes and investing her free time in no-cost efforts such as tanning, reading and blogging over costly pursuits.

An amusing video on how to lose $2400 in 24 seconds:

About Crystal Groves, Google+

Crystal Groves is a farmer, web developer, musician, blogger, and personal finance enthusiast from the back hills of Maryland and Pennsylvania. She started Money Drain as a project to encourage people interested in fixing their financial situation to share their stories and learn from the stories of others. We all make mistakes, but in order to change we have to make changes.

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