eBay - a virtual goldmine for USPS

The Rocky Mountain News reports that Postmaster General John Potter says eBay shippers have generated more than $1 billion of postage since the two started working closely together more than two years ago.

Calling it a "virtual gold mine" for the postal service, reporter Jeff Smith writes, "USPS is a gargantuan federal organization with $69.9 billion in revenue and more than 700,000 employees. Unlike private companies, it doesn't face Wall Street pressure to achieve certain earnings or revenue growth, instead looking to cover its costs."

"But even that has proved difficult in recent years, with more people e-mailing than sending letters. EBay has provided a boost to USPS' priority mail and other package services, through such products as the flat-rate boxes."

Priority mail revenue alone was up 9.2 percent in the first nine months of the fiscal year ended Sept. 30 according to the article.

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