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Submission + - Broken Busted and Out of Time The USPS Living in Dicey Times. (moneynews.com) 2

tetrahedrassface writes: The United States Postal Service does a pretty good job of moving mail around. They've been doing it for a couple of hundred years through good times and bad. The bad times for the postal service have gotten worse with the advent of the internet. The service made history a short time ago when it defaulted on its payment to its retirement benefits trust. It's about to happen again on September 30'th. At issue is how the service funds its retirement and health trust and a massive decrease in volume due to online communications such as e-mail, social sites, text, and sms. The employees of the USPS are good people, albeit working for an organization that can't seem to adapt out of the quandary they are in. Losing money badly the service recently agreed to buy used phones to help bolster the bottom line.
Some call this Armageddon for the postal world. According to the Inspector General the service might in fact run out of money for days or weeks in October until volume for the Holidays picks up. By next spring they forecast to be bankrupt entirely with out Congress acting, and there is the rub: Is the USPS a government service or a business and with so much connectivity these days why rely on paper? I'm sure the employees are good people, and don't want to pick on them, but perhaps their business model needs to be set free allowing them latitude in implementing needed changes. Dicey times. Dicey times indeed.

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