2007 LTIP Grade-20 and up bonus

[Cezanne]

Been following this board for a long time, but never was incensed enough to post a reply - until now. The LTIP Incentive plan is the straw that broke the camels back for me, and it's a disgrace. If they wanted to give every manager at Grade 20 and above options that would be worth 1 million if the stock hit $100, that would be fine with me - we all would benefit. To give these outrageous amounts and not have it tied into the stock price is almost criminal, and by the way, I do agree that the operation Sups and Business Managers should have been the ones getting add'l compensation, not the fat cats. Anybody who thinks that the MIP wasn't cut in part to pay for this latest boondoggle just has their head in the sand. And speaking of boongoggles, $80 million to get rid of 194 Corporate people, half of which were going to retire anyway - it's unbelievable.

There is no long term loyalty at UPS now. Everybody in Corporate spends their entire day justifying their jobs and department. Many retirees that defend UPS and post on this board have no idea how inept and self serving upper management has become - political quicksand. To them I say, you would be even more disgusted than the people who are posting on this board on a regular basis if you were still here. I will say that many of the problems we are now facing were already apparent when Mike took over, and he has tried to do the right thing. However, Mike has let the inmates run the asylum during his entire term, holding no one at the senior level accountable, promoting those that have failed miserably up the management ladder. He has not been the tough CEO that we needed, and our problems have gotten progressively worse under his watch. The LTIP was put into place to placate those upper managers that whined they weren't going to become multi-millionaires, and justified as necessary to keep good people (pure BS) and Mike caved. For the record, I am a long time UPS'er who only has 2 years left to retire, and I plan to withhold authority for every BOD nominee and any proposal put forth this year. Those of us that have substantial A shares remaining have a DUTY to hold these people accountable. We are the owners of the company - are you satisfied the way things are being run? Are you satisfied with performance of the stock the last 7 years? Are you satisfied having your MIP decimated to pay for the LTIP?

HOWNOWBROWNCOW: If you are still out there, how is retirement and is anybody really being held accountable?

 

[Dis-organized Labor]

Not sure how accurate this is, would love to see some evidence of this.

Nothing that guy says is accurate

 

[pretzel_man]

This is not only for the top, if you a "good ole partner" you can be inducted into the group. Most do not know about the secret club of invited "partners".

Not sure how accurate this is, would love to see some evidence of this.

LTIP (Long Term Incentive Plan) is for Grade 20's and up. There is no secret club.

P-Man