In Showdown, Trump Unveils USPS Task Force As Bezos Launches “Shipping With Amazon”

Following on from his caustic comments towards Jeff Bezos’ company:

“Amazon costing the United States Post Office massive amounts of money for being their Delivery Boy. Amazon should pay these costs (plus) and not have them bourne by the American Taxpayer. “

President Trump has unveiled (at 9pm on a Thursday night) an executive order (below) creating a task force on the US Postal System with a direct shot across Amazon’s bow: “Evaluating… the expansion and pricing of the package delivery market.”

But, just as The White House released the text of the Executive Order, Bloomberg reports that Jeff Bezos is preparing to launch “Shipping with Amazon” to disrupt the shipping industry…

Amazon is getting ready to launch “Shipping with Amazon” which may be a major disruption to the current shipping industry. Insights via @CMEGroup pic.twitter.com/j0oESvSDxT

— TicToc by Bloomberg (@tictoc) April 13, 2018

We call it a tie… for now… as the Billionaires battle it out.

* * *

Full Executive Order:

THE WHITE HOUSE

Office of the Press Secretary

FOR IMMEDIATE RELEASE

April 12, 2018

EXECUTIVE ORDER

– – – – – – –

TASK FORCE ON THE UNITED STATES POSTAL SYSTEM

By the authority vested in me as President by the Constitution and the laws of the UnitedStates of America, Ihereby order the following:

_Section_ _ 1_. _Policy_. (a) The UnitedStates Postal Service (USPS) accounts for almost half of global mail volume and is regularly cited as the Federal agency with the highest public approval rating. However, a number of factors, including the steep decline in First-Class Mail volume, coupled with legal mandates that compel the USPS to incur substantial and inflexible costs, have resulted in a structural deficit* *where revenues are no longer sufficient to fund the pension liabilities and retiree health obligations owed to current employees. The USPS is on an unsustainable financial path and must be restructured to prevent a taxpayer-funded bailout. This finding is supported by the following considerations, among others:

(i) the USPS has incurred $65billion of cumulative losses since the 2007-2009 recession;

(ii) the USPS has been unable to make payments required by law for its retiree health benefit obligations, which totaled more than $38billion at the end of fiscal year2017; and

(iii) the Government Accountability Office has had the USPS on its high-risk list since 2009 because of a serious financial situation that puts the USPS mission of providing prompt, reliable, and efficient universal mail services at risk.

(b) It shall be the …read more

Source:: Zerohedge.com

      

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