The House approved a $25 billion relief package for the beleaguered USPS, a measure not expected to pass muster in the GOP-led Senate, as new Postmaster General Louis DeJoy is undergoing intense scrutiny in Washington over changes he is initiating. A second hearing before a House panel is scheduled for today.
While the USPS gets tossed around like a political football and threatens insolvency without more federal aid, the agency continues to report poor results as already lower mail rates have fallen through the floor due to coronavirus. Meantime, Trump ally, donor and fundraiser Louis DeJoy will be the new Postmaster General.
Once again, the U.S. Postal Service reported a massive net loss ($2.1B), a mail volume decline (-3.9%) and an increase in shipping volume (+0.3%) for the second quarter of 2019. See what else the USPS reported in quarter, and what solutions are on the table.
The Trump administration has announced plans to withdraw the United States from the Universal Postal Union by January 2020. The move is an effort to counteract below-market parcel shipping rates that China has enjoyed for years to the competitive disadvantage of U.S. merchants.
Retailers are continuing the “dump Trump” trend, at least in terms of products bearing his family name, as the controversial businessman-turned-president makes moves executives have concerns about – or as they anticipate or experience customer blowback. See which brands and retailers are taking the stand against President Donald Trump and what it means for each of them.