I'm pretty sure that Management pay per hour flucates significantly based on a number of things. I know for a fact that my boss does not work 40 hours a week unless it is during Peak. I don't know how much he is making a year, but I imagine it is at least 60,000 (based off things he has said to me -- current FT Sup starting pay is between 50-55k in my hub, depending on years). Some quick math...60,000/2080 (which is an estimate of hours worked for the year =40*52) = roughly 29.00. Not bad, but consider this: I know that there are FT Sups making around 100k in our hub. If they work relatively similar hours as him -- which I'm sure they do -- then they are making even more per hour. Plus, the MIP. Fulltime Management at UPS can be very stressful, but if you are good at it, it can be very rewarding...at least that is my thoughts on it from my perspective. I work in a large NDA Night sort, if that helps give my perspective.
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I'm pretty sure that Management pay per hour flucates significantly based on a number of things. I know for a fact that my boss does not work 40 hours a week unless it is during Peak. I don't know how much he is making a year, but I imagine it is at least 60,000 (based off things he has said to me -- current FT Sup starting pay is between 50-55k in my hub, depending on years). Some quick math...60,000/2080 (which is an estimate of hours worked for the year =40*52) = roughly 29.00. Not bad, but consider this: I know that there are FT Sups making around 100k in our hub. If they work relatively similar hours as him -- which I'm sure they do -- then they are making even more per hour. Plus, the MIP. Fulltime Management at UPS can be very stressful, but if you are good at it, it can be very rewarding...at least that is my thoughts on it from my perspective. I work in a large NDA Night sort, if that helps give my perspective.
pissedoffmanager
Well-Known Member
Will UPS finally allow managers and sups to roll that money to another brokerage house? When I was there you couldn't touch that money, and it had to stay in that plan, even though other brokerage houses had much better plans.
No 40 hr weeks in California. 100k is possible for a sup with several years of service and a good MIP year. I have heard that in some remote areas hours are more manageable.
UPS discourages withdrawal of MIP stock but does not prohibit it. Legally it's your money to withdraw although it may require a meeting with the District Manager never an easy proposition.
BURMDPsupe
Well-Known Member
It was this way in the past; now, if I'm not mistaken, you can sell your shares via the website (Mellon or whoever is in charge now).
M-
You are right in your statement. District Managers may still get a report, but they generally don't speak to their management employee about selling UPS stock. Over the years, after going public, UPS encouraged the management people to manage their own portfolios.
401K's and changes to the MIP program, have been implemented to allow for flexibility with personal finances.
Years ago, when the only way your could buy or sell UPS stock was through your controller, then you needed all the signatures to get the transaction done. That was when UPS was private.
705red
Browncafe Steward
We profited 5.4 billion in 2008, and if i can recall correctly a little over 4 billion in 2007. And the company even though we were very profitable treats its employees this way!
If you read this year and last years earning reports it appears ups is claiming the 6.1 billion dollar central states but out in both? This cant be can it?
If you read this year and last years earning reports it appears ups is claiming the 6.1 billion dollar central states but out in both? This cant be can it?
You are correct the plan was modified in late 2005 one half MIP awarded in cash one half in deferred stock distributed over 5 years with one-fifth available
each year for withdrawal. Channahon is correct as well except we went public
several years before the implementation of the new plan.
705red
Browncafe Steward
Trp did you see the earnings report? 5.4 billion in profits last year. That's our best year yet even in a recession.
Now i understand that we had really bad weather in december and there was a lot of excessive ot due to it all across the u.s.
Yrc's profit was i believe somewhere around 36 million, and they asked for concessions to stay afloat.
Its almost unimaginable to think that a company that posted 5.4 billion in profit would drop that drastic within a year.
The fact is more people are ordering less of items and not in the bulk they were, which means less ltl for freight drivers and more small parcel for us and our competition.
I have read a lot about how bd has dropped the ball on sales leads, now if those leads that we all turned in were sold, imagine were our profit would be. Imagine all that extra work on our trucks daily, yet we have to suffer in losing our stock option plan?
Anyone that stays in this plan at 5% discount of the last day of the quarter is just throwing there money away. You would be better to withdraw from the stock and invest that into your 401k. More bang for your buck, jmo
I always enjoy the occasional provincial perspective.
705red
Browncafe Steward
Thats the best you got? Did you read both year ending reports were ups claimed the 6.1 billion in each?
BigBrownSanta
Well-Known Member
For what it's worth, stock prices usually bump up on the last day of the quarter. I don't know how it's done, but stock prices rise towards the end of the quarter then fall back after the quarter has closed. It makes the shareholders that only check their statements (which are reported as of the last day of each quarter) feel better.
Sell your option week and have it placed in your 401(k). It's the closest thing to a company match that anyone will get at UPS in the foreseeable future.
Sell your option week and have it placed in your 401(k). It's the closest thing to a company match that anyone will get at UPS in the foreseeable future.
beentheredonethat
Well-Known Member
Red, Although it is mentioned in both reports. The 2007 report shows the charge as occurring in 4th qtr 2007, the 2008 mentions it when they are comparing 2008 vs 2007 and again mentions the charge for 2007. So we aren't double dipping.
As a recently retired UPS mangement person who spent 28 years with UPS, the announcement made regarding freezing management payroll and suspending 401k match is mild in comparison what other Fortune 500 companies are doing to survive in today and the future economic projections.
Some union employees have been laid off, but will have the opportunity to come back to work once the volume picks up.
Our full time drivers who are laid off, will be back to work, once vacations start.
Our management employees have been downsized since the 90's with district and region consolidations, are taking pay and benefit custs, and are doing more with less management support.
But one thing that I feel is constant, is all UPS employees, management and non union are willing to cut back their own hours or salaries to keep their fellow employees working. That is the culture of UPS, to take care of one another, understanding the opportunity to do so exists.
And I am not so naive to think my retirement benefits will change one day, so you have to live your life today, as you won't have benefits in the future. Now that may all change with our new leader in the White House, but for now, my life style will be minimal, based on the economic outlook for the next 2 years.
Some union employees have been laid off, but will have the opportunity to come back to work once the volume picks up.
Our full time drivers who are laid off, will be back to work, once vacations start.
Our management employees have been downsized since the 90's with district and region consolidations, are taking pay and benefit custs, and are doing more with less management support.
But one thing that I feel is constant, is all UPS employees, management and non union are willing to cut back their own hours or salaries to keep their fellow employees working. That is the culture of UPS, to take care of one another, understanding the opportunity to do so exists.
And I am not so naive to think my retirement benefits will change one day, so you have to live your life today, as you won't have benefits in the future. Now that may all change with our new leader in the White House, but for now, my life style will be minimal, based on the economic outlook for the next 2 years.
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Red,
You are comparing apples and oranges for the profit. $5.4 Billion is operating profit (Before taxes) It was $6.8 Billion in 2007, so pre-tax profit dropped by $1.4 billion, or over 20%, this year. The net profit in 2007, adjusted to remove the impact of the CS pension buyout, was $4.4 Billion. It was $0.4 Billion after the impact of the CS Pension.
705red
Browncafe Steward
According to your own math it seems a little fuzzy, if ups spent 6.1 billion in 07 to get out of cs, while making 4.4 billion in profits, if you subtract 6.1 billion from the 4.4 billion, you don't get .04 billion!
5.4 billion in profit is a great year especially during the times we had at the end of the year!
I earned $78,000 and to had to pay tax on that! We all have to pay taxes! But i still earned $78,000.
You go from 4.4 to 0.4, instead of 1.7B loss, because of tax write off. Not saying UPS is losing money, just that we didn't have a record year and profits are substantially down.
upser_J
Well-Known Member
this made me laugh.... first off.... (this goes for everyone) be happy u have a job that makes money. With the unemployment rate as high as it is now, there are millions of people who would love to make 15 bucks an hour... secondly... u get what u get... u joined the dark side. We all have to make sacrifices, so just deal with it.
upser j right on, all you cry babies deal with it and be GLAD you have a job and stop letting the union protect those that do not deserve to be working-get a real job
