Hey, it’s Dan. Welcome back. You’re watching I alleged list. And I’ve got a good one for you today. I’m starting at the Dory Fish Market. That fish, they got crab out early. But Wells Fargo, the bank, wants to see the post offices sold and privatized. Get rid of the post office. It’s not wild. Okay, let’s cover this. Hit the like button, subscribe to the channel. Now, they’ve got crabs and lobsters. Those are beautiful. So many big ones. Now, Wells Fargo Bank, that Wells Fargo, wants to privatize the postal service. And, you know, think about this.

Remember the old Pony Express movies. You’d see Wells Fargo. Oh, thanks, Ben. You’d see people, you know, they would be delivering the mail from the stagecoach, fighting off the bandits. And that’s, you know, how we remember the mail being taught to us, how it was delivered originally. Well, Wells Fargo sees an opportunity. Think about this, because this is staggering. They did a wish list in February, you know, a month ago. And they issued it, and they weren’t hiding it. This was not just private. But they said, listen, if we could take control of the real estate that the postal service has, this would be something that could make a tremendous amount of money and curb the losses.

Now, Louis DeJoy, who is the postal inspector, he has fought against certain things with the post office. But no, no, no. There’s 8,500 postal facilities across the country that have extreme value, that the postal service owns. These are buildings that we own. Think about this. 7,200 of these are smaller facilities, your local post office. 1,300 of them are large facilities, probably regional mail centers. Like here in Orange County, I mean, I could, between here in my house, the pier in my house, I think that there’s five post offices. But you’ve got the one regional mail center, the big one in Santa Ana that’s open later, that services everybody.

A lot of the mail goes there, then it gets shipped out. Those places could get an absolute fortune, because they would go out and sell the real estate, turn them into office buildings, level them, housing, whatever. But the crazy thing about this is that if we have not learned anything from hedge funds and from corporate finance, look at the Red Lobster store. Red Lobster told us that they lost money because they had to rent their facilities. They sold all the buildings that Red Lobster owned, and then had to lease them back at a premium, which is what you’d have to do to the post office.

Now, a stamp today, 73 cents. Outrageous. And what they want to do is they want to separate mail from parcels, and they want to IPO the parcels. They want to send it out and make it so that, they would have to bid on delivering parcels. And will this work? Who knows? But when you hear the figures, I mean, it’s unbelievable. The money, the United States Postal Service owns 20,700 acres of land in the United States. Well, gosh, what could we get for that? With assumptions, the square footage could be worth up to $12 billion.

The buildings, the first set of buildings, the largest facilities could be worth $34 billion. The smaller buildings could be worth $35 billion. So when you add it all up, everything that you have, you have $100 billion, basically, of assets that you could get rid of. Now, the Postal Service loses money. Right now, it’s conservatively losing $10 billion a year, which is one of the most inefficient forms of government that we have. Now, Louis DeJoy talks about this, and that, think about this, I don’t know if you guys have ever searched this, but you can search advertising, like, hey, buy discounted forever stamps.

And a lot of these are counterfeit. They anticipate that they lose over $1 billion a year to counterfeit stamps. Who would do that? Isn’t that a federal offense to fake postage? I mean, I would think so. Nah, who cares? So people are out buying fake stamps. And that’s one thing that they’re talking about, but oh my gosh. Now, here’s the thing that happened. In 1970, there was a big postal strike, and some of you weren’t even born in 1970, but this started in New York City, and they were talking about how workers in Brooklyn were not being paid properly.

Horrible working conditions, they had too much stress, larger routes, long hours, things like that, so they had a strike, and the strike ended up moving across the country. It went to Detroit next, it went to Philadelphia, eventually made it all the way across the country to Los Angeles. Over 200,000 postal workers went on strike during that time for eight days, the great postal strike of 1970. Now, what happened was Richard Nixon, our president at the time, he stepped forward, and all the stuff is below, because this was pretty fast when they started looking at this, because what Wells Fargo wants to do is like any other business.

Hey, what’s the opportunity? Where can we make money? They don’t care if it’s going to affect you and I with mail and business and sending things out. They don’t care about that. They just want to see an opportunity to make money, but the great postal strike of 1970 was all about bringing awareness, and it was one of the most successful things that unions ever did in the United States combating this, because they determined that, wait a second, you guys need the post office, you didn’t have good wages, but this was considered a huge union win at the time, which was great when you look at this, but it also brought up this Postal Awareness Act to where they can’t strike.

Now, what happened yesterday? There were over 150 cities that participated in a protest. You can’t call it a strike. A protest did it on a Sunday, okay, and the idea for this was it started again in New York City where they went out and they got together and rallied around. We want better wages. We don’t want you to cut our jobs. People like working at the post office, you know, their pensions, everything like that. I mean, I’m at that age and I know people that were in high school with me that ended up working at the post office and retired and have a pension for the rest of their lives because of that.

It is freezing measure, guys. It’s cold, it’s early, but this is done. Now, what was the first thing that happened? With Doge, Doge says, let’s get rid of 10,000 employees at the post office, and what the unions are doing is saying, wait a second, any cut is a cut to postal service and it’s an insult to us, and any cut is a bad cut, especially when we’re losing money and we’re trying to get more efficient. You guys, since I was a kid, don’t you remember all the stories about how the post office sucks? It doesn’t make any money, it’s losing money, and what can we do to fix this? Well, we’ve heard that forever.

What are you going to do to fix it? And again, I look at the head guy, Louis DeJoy. Now, his thing is, oh, let’s just unload everything. Let’s sell it. So, the unions, if you read the articles below, have talked about if you get rid of the post office. It will raise prices. The 73 cents that we pay on first-class postage will be a pit. It’ll be $2.50. I’ve seen some estimates to send a one-ounce letter. Now, you can drive to somebody’s house and drop it off cheaper than that. Will this work? Who knows? You know, it’s funny.

Amazon and FedEx and certain things, you can go buy things on eBay, and all of a sudden, you’re waiting for that package to be delivered on your front doorstep, and then you open up your mailbox, and you realize, wow, they dropped on the mail today. So, they’ve worked deals out with the Postal Service. Donald Trump during his first administration was furious because Amazon got themselves a sweetheart deal, and basically, they lost money on the Amazon deal, which again, is a horrible way to run a business. So, you know, but it’ll be interesting.

But here’s the thing. Unloading all this property, that’s the key. That’s what they want to do. And every postal worker that has written me in the last three years, let’s go back that far, they have all talked about one thing. They’ve all been expected to do more work than ever, which is unfair. And again, you think that the unions, even in rural towns, even in smaller areas, would fix this because it’s crazy because, you know, I have people that write me and say, hey, listen, we want you to work Saturdays, and you’re going to do every other Saturday for us.

I coach my kid’s baseball team and set it up around my work schedule. Nah, but you don’t get any more money. It’s the same pay. Who would do that? Name one position where you would sit there and they would tell you to work an extra two days a month on tea, you know, holidays, weekends, you know, your private time, and you’re not going to make a dollar more for that? Pass. You know, let me say no to that. You can’t. You can’t do it. You know, postal carriers that walk and put mail out, I’ve had people write me and say, oh, I’ve had 1.8 miles, 2.2 miles.

And when you think about it, hit every house, and you add a couple miles to your route, I mean, that’s crazy. It’s absolutely nuts. But what’s the secret? Let’s unload it. God, all the money that we have, you know, private equity, all that nonsense and how it’s just destroyed businesses around the country, and I’m doing an expose on that right now about how you’re seeing all these businesses where they’re unloading everything and businesses are going bankrupt. Like Joanne’s Fabric, there’s a lot of stores that were profitable, but they bankrupted the whole company during that time.

So what do you guys think about this? I mean, I was blown away that it was Wells Fargo. The thing that’s good is they actually, you know, the union’s got to be able to do something to fix this, because I don’t want to see mail service go away. I don’t want to see it go through UPS and everything we have here. Now, I live in a busy area in Orange County, California. You know, we have UPS trucks, we have DHL, we have mail, you know, everything, but you don’t want to see mail itself get rid of, you know, you don’t want to get rid of that.

The lifeguards, see that in the distance, those headlights back there? They’re combing the beach right now. They do that first thing in the morning to make sure there’s nobody out here and make sure that everybody’s safe, but, you know, go with light. It’s kind of wild. Sorry it’s out of focus, but it’s kind of an interesting thing that they do. They scrape the beach and make it clean with these earth movers and things like that, and I’m so early the surfers aren’t even out yet. That’s wild. But guys, I mean, end of the post office? Is this what’s happening? I think it’s fascinating myself, but it all gets down to them selling the land.

Every opportunity that they have, think of all the postal equipment that we can unload. Think of everything we’re not going to need. We can lease that out. We can sell that out. Again, read the article, but their memo, Wells Fargo’s memo, that’s wild, guys, because it’s not, they’re not hiding it, and this is what’s pissing off all the unions, and if you read everything, I’ve got all this great union stuff, all these great days of the day of action yesterday that they did, 150 people. Now if you guys sit there, if everybody got together and worked on a way to save the post office, cut costs, every time you say that word to a union member, it’s like, oh my God, that means I’m going to make less.

No, you need efficiency, guys. The business has to make money. The post office, for my lifetime, I can’t remember when it’s ever made money, so with that being said, I think it’s fascinating myself, but I mean, let’s just go through Louis DeJoy’s four-point plan, and I’ll end the video with this. I mean, he just doesn’t mix words and retail leases. Think about this. How many retail leases does the post office have right now in the United States? Unbelievable. 31,000, 31,000, name another business that leases 31,000 locations. That’s included the 8,500 places that they own, plus all that acreage.

Counterfeit Postage, we talked about that. Their big problem, they think, is counterfeit postage, and how it’s just an absolute problem, which, again, who would, I mean, would you guys risk that? I would think that they’d throw your mail away if you had counterfeit postage on it. Federal law mandates and legislation say cost us between $6 million and $11 million a year of extra costs that we have with this, and Louis DeJoy wants to get rid of that, and then he also criticized burdensome regulatory requirements. We don’t need no stinking rules.

Anyways, it’s kind of funny, but will they get rid of the post office? What do you guys think? Hit the like button, subscribe to the channel. I think it’s when you read all this stuff, as far as the thing losing money, absolutely. The United States Postal Service is a deep, dark hole of our own. Hit the like button, subscribe to the channel. I’ll see you guys soon. [tr:trw].

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