• Home
  • About Team
  • Advertise
  • Sitemap

  • Money
  • Life&Culture
  • Electronics
  • Research
  • Sport
  • World News
  • Medical
  • USA

Trump orders review of Postal Service amid Amazon accusations

  • by Olivia Ford
  • in Money
  • — Apr 13, 2018
Share:

Thanks to President Donald Trump, the investment community is now taking a closer look at Amazon's (AMZN) relationship with the United States Postal Service.

News of the task force came amid Trump's rhetorical war on Amazon, in which he has accused the e-commerce company of using the USPS to prop up its business at the expense of the taxpayer.

In the surprise move, Trump said that USPS is on "an unsustainable financial path" and "must be restructured to prevent a taxpayer-funded bailout".

It said the Postal Service had lost 65 billion dollars since the 2007-2009 recession.

According to one report in Reuters, Wall Street analysts estimate that Amazon pays the USPS roughly half what it would be required to pay UPS or FedEx to deliver a package. Much of that anger appears to be directed at founder Jeff Bezos, who also happens to own The Washington Post, a paper that hasn't always painted the president in flattering light.

Prime membership could get more expensive if Amazon is forced to pay the US Postal Service more to deliver packages.

Fury called the date of his return to the ring
An opponent for Fury has not officially been announced, but the self-styled Gypsy King appears ready for battle. The ones who are scared to step up talk a good game, but don't back it up so I get bored of it'.

Nevertheless, the order requested the taskforce to appraise "the the USPS expansion and pricing of the package shipping market and & rsquo; s part in markets", one of other troubles.

The executive order comes as some perceive Amazon as a big benefactor for the Postal Service, bringing it more business at a time when letter deliveries are slumping. Trump created a similar commission a year ago to support his claims of wide-spread voter fraud in the 2016 presidential election - a claim thoroughly debunked by election experts from both parties.

Citigroup previous year found that Postal Service prices would have to go up by $1.41 per package - about 40% - to reflect the true cost of delivery. Additionally, Postal Service corporate partnerships are reviewed annually by the Postal Regulatory Commission, an oversight agency.

In response to an op-ed that appeared in the Wall Street Journal past year, USPS Chief Financial Officer Joseph Corbett wrote that it is "inaccurate" to say that the Postal Service delivers packages "below cost".

However, Amazon's contract is reportedly profitable for the service, and its package delivery business has seen double-digit increases in revenue. "THEY LOSE A FORTUNE", he wrote in a tweet earlier this month. "The PRC has also noted that competitive products help fund the infrastructure of the Postal Service".

Share:

IN CASE YOU MISSED IT

  • Palestinians continue to demonstrate on Israel-Gaza border
  • Freezing rain warning issued for Guelph and area
  • Reliance Jio to launch 4G laptops powered by Snapdragon 835
  • YOU MAY ALSO LIKE...

    • Mets sending Matt Harvey to the bullpen, Callaway announces 4/22/2018
    • Hs Management Partners LLC Stake in Coca Cola Co (KO) Increased 4/21/2018
    • BoE's Carney says prepare for rate hikes over the next few years 4/21/2018
    • Weekly Sophos Group plc (LON:SOPH) Ratings on April 20, 2018 4/21/2018
    • 'Fearless Girl' is leaving 'Charging Bull,' moving to a new home 4/20/2018
    • Commonwealth leaders urged to halve malaria 4/19/2018
    • IRS will give taxpayers extra day to file after website crash 4/19/2018
    • Liquidators Make Bids for Bon-Ton 4/18/2018
    • What analyst predict for The Goldman Sachs Group (NYSE:GS)? 4/17/2018
    • Netflix is now boasting 125 million subscribers 4/17/2018

RELATED NEWS

Lewis Hamilton makes worrying Chinese Grand Prix prediction
Sebastian Vettel has said his Ferrari vehicle needs some fine-tuning ahead of qualifying for the Chinese Grand Prix . "It's always been a good track for me", said Hamilton , who finished second in Australia and third in Bahrain .
4/13/2018

Will Ferrell, 3 Others Taken To Hospital After Serious Crash In California
According to TMZ , drugs and alcohol do not appear to be a cause for the accident, and police are continuing their investigation. Ferrell was among four people hurt when the actor's SUV, driven by a chauffeur, was sideswiped and overturned, TMZ reports .
4/13/2018

    • Top picks

    • Weekly News

    • Latest News

      • Souderton Area School District set to propose 2.4% tax hike4/17/2018
      • Oil dips but still on track for biggest weekly gain since July4/15/2018
      • Trump orders review of Postal Service amid Amazon accusations4/13/2018
    • Home
    • About Team
    • Advertise
    • Sitemap

    Wednesday 25 April 2018

    © 2018 . ALL RIGHTS RESERVED.