Yesterday Donald Trump continued his error filled tirades against Amazon and the US Postal Service, this time citing a report he claimed (falsely) had “just come out” and supported his charge that the USPS is subsidizing Amazon. Other analysts have pointed to serious flaws in the report, but now even the report’s author says it doesn’t prove what Trump claims it does:
From Business Insider:
He seems to be referring to a 2017 Citi Research report that has frequently been cited by people criticizing Amazon’s use of the USPS.
However, according to the author of the report, Trump has the wrong interpretation. “We never said Amazon is getting a $1.50 subsidy,” Citi analyst Christian Wetherbee told Business Insider on Monday in a discussion of misinterpretations of the report, which actually says the loss per package is roughly $1.46 for the USPS.
Wetherbee continued: “If you read what that number is, it’s the total package business is priced below cost. It has nothing to do with Amazon specifically.”
Axios reports that Donald Trump has become “obsessed” with Amazon and the damage he thinks it’s doing to businesses owned by his billionaire buddies- and he thinks the USPS is part of the problem:
Behind the president’s thinking: Trump’s wealthy friends tell him Amazon is destroying their businesses. His real estate buddies tell him — and he agrees — that Amazon is killing shopping malls and brick-and-mortar retailers.
Trump tells people Amazon has gotten a free ride from taxpayers and cushy treatment from the U.S. Postal Service.
“The whole post office thing, that’s very much a perception he has,” another source said. “It’s been explained to him in multiple meetings that his perception is inaccurate and that the post office actually makes a ton of money from Amazon.”
Axios’ Ina Fried notes: The Postal Service actually added delivery on Sunday in some cities because Amazon made it worthwhile.
ATLANTA (CBS46) -Getting an Amazon package after it’s due may come with a silver lining.
CBS46 is uncovering how post offices in every corner of metro Atlanta are running behind schedule on deliveries, and if you’re expecting to get something important in the mail, it’s frustrating.
But, what if your late mail could help you get something for free?
If you order a package through Amazon Prime and it doesn’t come by 8 p.m. on the day it’s due, a former mail carrier tells us customers get secret perks.
“Amazon is supposed to give you a month of free prime,” says the former carrier. The woman who left her job at the post office earlier this year asked us not to reveal her identity, because postal workers sign forms promising never to talk to the media.
She told CBS46 her former supervisors at the post office gave her specific instructions to misrepresent delivery times because, she says, they know what’s at stake if Amazon packages are late.
Help for Hurricane Harvey Victims — (September 1, 2017) The TSP has made a temporary change to the financial hardship withdrawal rules for participants affected by Hurricane Harvey: As of September 1, 2017, we will treat any Financial Hardship In-Service Withdrawal Request as a qualifying hardship and will waive the rule prohibiting employee contributions for 6 months after taking a hardship withdrawal provided one of the following is true: Continue reading →
Is the US Postal Service giving Amazon preferred treatment at the expense of other mailers? Investment advisor Josh Sandbuite of Greenhaven Associates thinks so, according to a column he wrote for today’s Wall Street Journal: Continue reading →