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Trump eyes privatizing US Postal Service, Washington Post says

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USPS lost $9.5 billion in the financial year ended Sept. 30, amid a decline in mail volume and slower-than-anticipated parcel shipping.
The article from Fortune discusses Donald Trump's proposal to privatize the United States Postal Service (USPS). Trump has suggested that the USPS, which has been facing financial difficulties, could be more efficiently run by private companies. The USPS has been dealing with declining mail volumes, increased competition from private carriers like FedEx and UPS, and significant financial losses, with a reported net loss of $6.5 billion in the fiscal year ending September 30, 2023. Howard Lutnick, CEO of Cantor Fitzgerald, has been mentioned as a potential figure to lead this privatization effort, given his experience in financial services and his interest in logistics. Critics argue that privatization could lead to higher costs for consumers, reduced service in rural areas, and potential job losses, while proponents believe it could introduce innovation, efficiency, and possibly save the USPS from further financial deterioration. The debate includes considerations of how privatization might affect the universal service obligation, which mandates the USPS to deliver to every address in the U.S. at a uniform price.

Read the Full Fortune Article at:
[ https://fortune.com/2024/12/14/trump-privatize-us-postal-service-mail-volume-delivery-losses-howard-lutnick/ ]


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