The Economist (March 10)
In Japan, much concern centers on deflation. The Economist, however, asserts living in Tokyo is getting more expensive compared with 132 cities around the globe. An annual survey shows Tokyo has moved up to second place from sixth place one year ago. Paris was named the most expensive city to live in the world. And Oslo, previously ranked number one, fell to third place.
Washington Post (March 10)
Like counterparts around the globe, the U.S. Postal Service (USPS) is struggling. The Internet has taken a major bite out of revenues. Private delivery services haven’t helped either. Between 2006 and 2009 volume fell by 36 billion pieces. The USPS is forecast to lose over $7 billion in the current year, with projections of a $238 billion shortfall by 2020. Labor accounts for 80% of USPS expense and provides some hope for savings. The Washington Post doesn’t, however, believe the USPS can be easily turned profitable or privatized. Instead, the USPS “may wind up as a burden on taxpayers, like another iconic business with an aging workforce, high legacy costs and an outdated product line: General Motors.”
