Amazon's Mysterious Delivery

An interesting development emerged with Amazon's 10-K filing late last week: the company is being investigated by the U.S. Postal Service:

In January 2009, we learned that the United States Postal Service, including the Postal Service Office of Inspector General, is investigating our compliance with Postal Service rules, and we are cooperating.

Some commenters are speculating that the USPS could be examining whether Amazon pays a discounted "media rate," for packages that aren't specifically media-related. Others wonder whether it has to do with Amazon sellers underestimating the weight of their packages and ripping off the USPS in the process.

The company has declined to comment on the probe.

Like many federal agencies, the USPS is in dire financial straits. It recently asked Congress to lift the requirement that it deliver mail six days per week, fueling speculation that Saturday mail could become a thing of the past.

It wouldn't be a stretch to assume the agency is stepping up investigations into possible fraud that could be stripping it of revenues. It's not at all clear that's the case here.

So far, investors are unfazed by the disclosure. Amazon shares are up four percent today.

by Megan Barnett