The US government had a legal monopoly to “carrying letters and parcels arround.” Then it decided to remove that law, and then capitalism created delivery services.
In exchange for the monopoly there was flat rate service to every address in the country. Now they’re expected to do the flat rate service without the monopoly, while other companies targrt the most lucrative business.
And then Congress required them to take out loans to come up with 75 years worth of employee health benefits in just 10 years. That put them in massive debt, when other companies have such requirements.
Now, the same politicians that imposed those rules on them, are complaining that they’re no longer “profitable”, since every single penny they make is going towards paying off that debt.
Then Capitalism gave us delivery services, and the US government made the USPS bankrupt and obsolete.
The US government had a legal monopoly to “carrying letters and parcels arround.” Then it decided to remove that law, and then capitalism created delivery services.
In exchange for the monopoly there was flat rate service to every address in the country. Now they’re expected to do the flat rate service without the monopoly, while other companies targrt the most lucrative business.
And then Congress required them to take out loans to come up with 75 years worth of employee health benefits in just 10 years. That put them in massive debt, when other companies have such requirements.
Now, the same politicians that imposed those rules on them, are complaining that they’re no longer “profitable”, since every single penny they make is going towards paying off that debt.
Similar play as private equity