Not on the Bailout Bandwagon
Looks like everybody wants for a handout from the federal government these days whether they deserve it or not.
A week or two ago, a group of 46 mailers labor unions and postal groups petitioned Congress NOT for a bailout but for easier terms for the U.S. Postal Service to pay for the retirement costs of future postal workers, according to Bloomberg news. Those costs are estimated to run between $5.4 billion and $5.8 billion a year for the next 10 years.
Unlike banks and the automotive companies, which behave as if they’re entitled to hundreds of billions of taxpayer dollars as if by divine right, all the USPS is asking for are easier payment terms while it tries to stay alive during the worst financial crisis since the Great Depression.
The USPS isn’t looking for free money it can squander on lavish retreats for top executives or to take over smaller competitors while failing to perform its most basic business functions.
At the end of the day, (or maybe the beginning), the USPS will still be delivering the mail. Letting it go broke is not the answer.
November 26th, 2008 at 4:46 pm
Larry,
I agree with you.
On a related note, I also think all small businesses should unite and file a class action suit against our Government to bail out all enterpreuneur’s. After all, it’s not any business owner’s fault if they go out of business. Management has nothing to do with it. It’s all a reflection of the economy and if Uncle Sam can bail the big guys out, surely they can help out the smaller firms as well. If they are doing well they should give them twice as much coin. And, the best part, they only need millions each, not Billions. What a deal!
December 1st, 2008 at 11:21 am
The biggest thing these fellas can do is move to a 3 day delivery schedule and reduce the cost of postage by 40%. Labor can be cut in half and we all will remain happy with mail three days a week. I have often heard that the “banks” would be opposed to this—-well they are all wards of the state so they should have to stop bitching and mail fewer credit card offers at 31%. This is the answer for the USPS in deflationary times. The alternative is futher subsidies from the feds and a continued erosion of volume!