March 30, 2004
Defending the Posties
Cyclingnews has a terrific letter from Steven Adelman of Washington, DC, defending the US Postal Service investment in cycling. With their contract up at the end of this season, there's some doubt whether US Postal's sponsorship will continue, and the watchdog group at PostalWatch have been actively fighting what they call a "$50 million boondoggle."
Adelman puts the dollar amounts in perspective, comparing the $10 million spent annually on the team with:
• $300 million: The USPS advertising budget
• $68.53 billion: Total USPS revenue for 2003
• $1.62 billion: USPS international mail revenue
• $3.87 billion: USPS profits in 2003
In Adelman's words:
For a truly minuscule 10 million dollars a year the USPS gets one of the most admired and sought after spokesman a company could hope to get and thrown in for free is a stable of charismatic athletes who are admired the world over. This is a spokesman, by the way, who at least was perceived to be worth 12.5 million dollars by one corporation for a paltry 6 ads. Coincidentally ads in which he is giving free advertising to the USPS.
Seen at LanceArmstrong.com.