Tagged: U.S. Postal Service (USPS)

About a year ago, writer Jason Sheeler was working on a story about Hermès scarves — the elaborately decorated silk squares that can cost as much as $400. He traveled to Lyon, in southern France, to visit the factory, and on his first day there he found an even more interesting story: A French woman threw out a big scarf with a turkey on it and asked Sheeler if he knew Kermit. He didn't.

Kermit, as it turns out, is Kermit Oliver. He lives in Waco, Texas, and he's the only American to ever design scarves for Hermès.

This Sunday, the U.S. Postal Service won't be able to pay its latest $5.6 billion dollar obligation. This will be its second default; on Aug. 1 it failed to come up with a $5.5 billion dollar payment. The Service is warning of expected losses this year unless something is done:

Transcript

SCOTT SIMON, HOST:

There's only one way to begin this item.

(SOUNDBITE OF THEME FROM "THE SIMPSONS")