Washington Post (March 10)
2010/ 03/ 10 by jd in Global News
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“may wind up as a burden on taxpayers, like another iconic business with an aging workforce, high legacy costs and an outdated product line: General Motors.”
