Hardly anyone would argue that Congress is well equipped to make technology policy. Very few members are techies, and let’s face it, innovation is hurtling forward at a mind-blowing pace. Nor is Congress and its basic modus operandi — serving as a bargaining arena for diverse interests — particularly congenial to the use of data […]
The U.S. Postal Service (USPS) lost $3.9 billion in 2018. The agency also failed to make a $6.9 billion payment to cover its retiree health and pension benefits. Mail volume is down more than 25 percent since 2008, leaving the postman with less revenue. So what does President Donald J. Trump propose to do to right the USPS’ ship? […]
Last year, the U.S. Postal Service (USPS) ran a deficit of $3.9 billion. Unfortunately, losses are the rule rather than the exception for the agency. All this red ink has flowed despite USPS’s aggressive move into the parcel delivery business. These five charts depict the immensity of USPS’s financial challenges. The Postal Service was designed […]
Early this month, on the opening day of the 116th Congress, something unusual happened: The House of Representatives took a step to reform itself. Legislators approved a package of rules changes to fix some of its more glaring problems. Some of these are long overdue: As of Jan. 4, representatives can no longer sit on […]
On June 8, 1960, the New York State attorney general Louis J. Lefkowitz enjoined Winter-Berger from the securities market. Why? Because Winter-Berger had defrauded folks by peddling non-existent stock to rich folks, to whom he passed himself off as a “prominent socialite.” The corporation and the miracle product he described did not exist. He made […]
Yesterday, the Trump administration unveiled its recommendations for reforming the ailing U.S. Postal Service (USPS). Due to plunging mail volume and rising costs, USPS lost $4 billion last year and has $130 billion in unfunded pension and health care obligations. The 74-page report was issued by the U.S. Treasury, which headed the Task Force on the United States Postal System. Secretary […]
