Elon Musk, CEO of Tesla and SpaceX, as well as an advisor to President Donald Trump, has put forth a proposal for the privatization of the U.S. Postal Service and Amtrak.
What Happened: During a Morgan Stanley conference on Wednesday, Musk stated, “I think logically we should privatize anything that can reasonably be privatized,” as per Reuters, acknowledging that such measures would require congressional approval.
Despite posting a profit of $144 million in the fourth quarter, the Postal Service has been grappling with financial woes, having lost over $100 billion since 2007. In contrast, Amtrak has experienced a revival in ridership, exceeding pre-COVID-19 levels in 2024. However, for the 12 months ending September 30, the rail operator reported an adjusted operating loss of $705 million, reflecting a 9% decline compared to 2023.
Musk drew a comparison between Amtrak …
Full story available on Benzinga.com
Elon Musk, CEO of Tesla and SpaceX, as well as an advisor to President Donald Trump, has put forth a proposal for the privatization of the U.S. Postal Service and Amtrak.
What Happened: During a Morgan Stanley conference on Wednesday, Musk stated, “I think logically we should privatize anything that can reasonably be privatized,” as per Reuters, acknowledging that such measures would require congressional approval.
Despite posting a profit of $144 million in the fourth quarter, the Postal Service has been grappling with financial woes, having lost over $100 billion since 2007. In contrast, Amtrak has experienced a revival in ridership, exceeding pre-COVID-19 levels in 2024. However, for the 12 months ending September 30, the rail operator reported an adjusted operating loss of $705 million, reflecting a 9% decline compared to 2023.
Musk drew a comparison between Amtrak …
Full story available on Benzinga.com
Elon Musk, CEO of Tesla and SpaceX, as well as an advisor to President Donald Trump, has put forth a proposal for the privatization of the U.S. Postal Service and Amtrak.
What Happened: During a Morgan Stanley conference on Wednesday, Musk stated, “I think logically we should privatize anything that can reasonably be privatized,” as per Reuters, acknowledging that such measures would require congressional approval.
Despite posting a profit of $144 million in the fourth quarter, the Postal Service has been grappling with financial woes, having lost over $100 billion since 2007. In contrast, Amtrak has experienced a revival in ridership, exceeding pre-COVID-19 levels in 2024. However, for the 12 months ending September 30, the rail operator reported an adjusted operating loss of $705 million, reflecting a 9% decline compared to 2023.
Musk drew a comparison between Amtrak …Full story available on Benzinga.com Read MoreAAPL, Amtrak, AMZN, benzinga neuro, Donald Trump, Elon Musk, FDX, News, UPS, USPS, Markets, Tech, AAPL, US0378331005, AMZN, US0231351067, FDX, US31428X1063, UPS, US9113121068, News, Markets, Tech, Benzinga Markets
