Maybe he should turn his attention to reforming the U.S. Postal Service

"Ten years into his record-breaking philanthropic push for school reform, Bill Gates is sober—and willing to admit some missteps," The Wall Street Journal's Jason L. Riley reports. "The reality is that the Gates Foundation met the same resistance that other sizeable philanthropic efforts have encountered while trying to transform dysfunctional urban school systems run by powerful labor unions and a top-down government monopoly provider." Says Mr. Gates:

It's hard to improve public education—that's clear. As Warren Buffett would say, if you're picking stocks, you wouldn't pick this one.