Monday, September 22, 2014
Inquirer Daily News

Should we sell off the U.S. postal service?

Conservatives in the U.S. have to be looking longingly at the English, who earned the equivalent of $2.75 billion this week by privatizing their postal system and then selling its shares in an IPO.

Should we sell off the U.S. postal service?

Kevin Pownall delivering mail in Philadelphia. (Matt Rourke / Associated Press)
Kevin Pownall delivering mail in Philadelphia. (Matt Rourke / Associated Press)

Conservatives in the U.S. have to be looking longingly at the English, who earned the equivalent of $2.75 billion this week by privatizing their postal system and then selling its shares in an IPO.

Portugal now plans to do the same thing, but hopes to retain a minority share.

By comparison with the British, our postal service defaulted last week on a $5.6 billion payment for retiree health benefits, is forcing a 3-cent hike on stamps and wants to end Saturday mail delivery.

Is privatizing the U.S. postal service - the same institution the British and then Congress started in this very city with Benjamin Franklin at the helm - the answer to its woes?

The Italians don't think so. In fact, they're doing the exact opposite.

Poste Italiane SpA, stepped in today to help the debt-ridden national airline Alitalia, which went bankrupt under state ownership in 2008 and was privatized a year later.

What do you think? Comment below.

About this blog
Dave Ralis is the Business Producer for Philly.com. Money Talks is a blog about everything and anything dealing with Money. How to make it, spend it, save it and the things people will do to get it. Reach Dave at dralis@philly.com.

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