A Cornell professor proposes possible solutions to USPS' financial crisis.
On Feb 13th, a Cornell professor Richard Geddes proposed to congress that corporatization and commercialization could be the answer to the financial crisis that the Unites States Postal Service is facing. USPS’ volume of mail has declined by 25 percent and its revenue has dropped by about $40 billion since 2006. Corporatization, Geddes explained, would help USPS reorganize itself to resemble a large private corporation that is led by those who have private sector experience rather than a board of governors. In addition, Geddes believes commercialization will allow USPS to become more entrepreneurial. Geddes highlights that all 27 countries that are a part of the European Postal Union have repealed their postal monopolies and that the US is the last of developed countries to go through postal reform.
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