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That they lost, 11.1 billion is attribute to this onerous prepayment provision. >> that of course is $11 billion that they can't use to be competitive with the private sector. >> that's right. >> to service rural areas in the country and upgrade their infrastructure. and there is some serious money involved in this decision. ups spent more than $123,000 lobbying republicans before the 2006 vote. it hasn't lobbied since. fedex is considered a heavy hitter on capitol hill. it spent more than $645,000 on republicans just last year. >> and you know, ed, the bill you cite, bad enough this prepaymen...

Eastern last night. the faa says inspectors are going to investigate the incident. torrential flooding in china left more than 700 people dead and another 347 at least missing. chinese officials say that 90% of the deaths are from flooding, mudslides and landslides. more than 645,000 homes collapsed because of that flooding. we'll have more later this hour from our john vause who's in china's sichuan province. here in this country we had some flooding and severe storms in the last 24 hours and flooding might continue today. jacqui jeras has a quick look at this morning's weather headlines....

Latest updates on this topic from reliable sources.

Latest updates on this topic from reliable sources.

Latest updates on this topic from reliable sources.