Prices of stamps are due to go up with the financial crunch being primary reason given. However, despite this, the US Postal Service had enough money to buy an employee’s home for $1.2M for him to be able to relocate. Others refuse to let such a move pass without criticism.
Postal Service spokesman Greg Frey says. “It’s not like we threw away a million dollars. “We are hoping it’s going to go for the appraised value.” The USPS intends to sell the home as with others.
But one can’t help to ask whether this is a smart move especially with the real estate market being shot. Among the homes purchased by the USPS in its relocation program, the service lost an average of $58,000 per home that they’ve bought and sold last year.
The house in question belonged to Ronald Hopson – the ex-postmaster of Lexington, South Carolina. Hopson was transferred to Carrollton Texas.
Source: CNN
