Friday, May 9, 2014

The Future - The Digital Age

The U.S. post office has been one of the biggest casualties of the transition from the industrial economy to the digital economy. The U.S. post office keeps bleeding cash as it continues to struggle with the drop of mail volume. With online bill paying and email, the volume of mail has been dropping consistently over the last decade or so. Unlike Federal Express and United Parcel Services, the U.S. post office has not been able to create a way to make enough money to pay it's bills. It just recently announced a loss of $1.9 billion and it is asking Congress to let it skip a retirement benefits payment because it does not have the money to pay for it. It is also asking for an additional $10 billion to pay for improvements. One interesting development is that the U.S. post office will be delivering packages for Amazon on Sundays in Los Angeles and New York. Will this be enough to save it? I don't think the post office is going to make it in it's current form. Maybe it would be good to sell it to UPS or FedEx? Think of all the money taxpayers would save? (Yeah, like that would happen). The digital age is going to change just about every industry. It has changed the U.S. post office.

What do you think?

For more:
http://www.zerohedge.com/news/2014-05-09/us-postal-service-loses-19-billion-needs-10-billion-bailout-or-pensions-get-it