The Washington Post reports:
The U.S. Postal Service will pay $120 million over the next five years to a major logistics contractor that Postmaster General Louis DeJoy previously helped lead and with which his family maintains financial ties, according to DeJoy’s financial disclosure statements.
The new contract will deepen the Postal Service’s relationship with XPO Logistics, where DeJoy served as supply chain chief executive from 2014 to 2015 after the company purchased New Breed Logistics, the trucking firm he owned for more than 30 years.
Since he became postmaster general, DeJoy, DeJoy-controlled companies and his family foundation have divested between $65.4 million and $155.3 million worth of XPO shares, according to financial disclosures, foundation tax documents and securities filings.
Read the full article.
Remember I said I had another USPS story dropping today?
Here it is.
USPS will pay DeJoy’s former company, XPO Logistics, $120 million to take over two key sorting facilities.
Meanwhile, DeJoy maintains significant financial ties to XPO.https://t.co/6mZ3mkRAcD
— Jacob Bogage (@jacobbogage) August 6, 2021