The word over the weekend was that the U.S. Postal Service is about to announce major changes in the way it does business as bankruptcy looms, the Huffingon Post reported.
The USPS, which already announced that the price of first-class mail will go up to 45 cents on Jan. 22, is saying that it must close processing centers and cut employees drastically. Such moves could mean that a first-class letter won't have a chance of being delivered the next day.
"We have a business model that is failing. You can't continue to run red ink and not make changes," Postmaster General Patrick Donahoe said in an interview with the Huffington Post. "We know our business, and we listen to our customers. Customers are looking for affordable and consistent mail service, and they do not want us to take tax money."
The USPS is a government agency, but it operates independently and doesn't receive tax money. Congress can step in on large operational matters, but bills to bail out the agency have little prospect of passing.
So what should the USPS do?