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syrakusos

Hudgins asks: Is the Post Office Ready to be Sold Off?

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This was in the Reuters blog for November 18.

Last month in Britain, her Majesty’s governmentmade an initial public offering of shares in the British post office, raising $5.3 billion. The government is only retaining between 38 percent and 49.9 percent of the shares, meaning that the three-and-a-half century old state enterprise soon will be guided by private hands. The Royal Mail will no longer be so royal.

You might think this is a model to rescue the U.S. Postal Service, to help it complete with emails, tweets, and Facebook as means of communications. But not so fast. Politicians in Washington need to put the Postal Service on an equal footing with other private enterprises, sorting out which monopoly rights, mandates, and regulations stay and go. Further, the USPS needs to decide exactly what its core functions would be. Otherwise private investors would have little reason to sink their own money into the Postal Service’s sinking concern.

Read the entire article here.

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