Express raises.

[overflowed]

$62,500 isn't "upper middle class." Of course it gives you a guaranteed income. It doesn't however guarantee that it won't lose value, the downfall of fixed annuities. Let's say a courier's pension pays him $20k a year. That money comes from an annuity the company buys. That $20k when he retires won't buy him as much 1 year from now and as time marches on will be considerably less because the company got rid of the COLA feature in 1989.

Van, I don't know why you argue with it.

 

[I Am Jacks Damaged Box]

Van, I don't know why you argue with it.

 

[Cactus]

My sister-in-law was a systems analyst for FedEx during that period. According to her they kept working on Zapmail trying to make it work. Wikipedia says the company wrote off $320 million but I remember several mgr's/sr.mgrs. say it was $700 million.

And guess who's still paying for that?

 

[59 Dano]

$62,500 isn't "upper middle class." Of course it gives you a guaranteed income. It doesn't however guarantee that it won't lose value, the downfall of fixed annuities. Let's say a courier's pension pays him $20k a year. That money comes from an annuity the company buys. That $20k when he retires won't buy him as much 1 year from now and as time marches on will be considerably less because the company got rid of the COLA feature in 1989.

Gee whiz, WHATEVER, Van. My God, it's like I'm talking to a 20 year-old.

 

[59 Dano]

My sister-in-law was a systems analyst for FedEx during that period. According to her they kept working on Zapmail trying to make it work. Wikipedia says the company wrote off $320 million but I remember several mgr's/sr.mgrs. say it was $700 million. Doesn't change the fact that during the mid 90's topped out employees went 4.5 years without a raise.

If you say so. I looked on the company intranet today at the pay actions through the 1990's (all pay scales are archived there). When did Express go without raises? During the early 90's recession, which you incorrectly attribute to the demise of Zapmail, which shut down for good in 1987.

 

[AutoDG]

So...........umm........are we getting raises or what? 8% sounds nice.

 

[59 Dano]

So...........umm........are we getting raises or what? 8% sounds nice.

I'll take it.

 

[vantexan]

If you say so. I looked on the company intranet today at the pay actions through the 1990's (all pay scales are archived there). When did Express go without raises? During the early 90's recession, which you incorrectly attribute to the demise of Zapmail, which shut down for good in 1987.

Topped out employees went from '93 to '97 without raises until they got a small one in early '97. Got 39 cents, mgr told me I better enjoy it, it'll be the last for a long time. I was domiciled 95 miles from station at time, wasn't aware of any upcoming adjustments, got frustrated and quit in mid'97.

 

[vantexan]

Gee whiz, WHATEVER, Van. My God, it's like I'm talking to a 20 year-old.

Well that'll show me!

 

[Serf]

3% of a million is $30,000. What are you, a McDummy? And you don't take into account inflation. Your money will be worth 60% less in 20 years with an average 3% inflation. That's why I'm heading overseas.

Panama is a smart choice for retirees who want it all,in a country that really wants them. Not only does it feature attractive retirement destinations;sleek capital city, hot beach towns, cool mountain villages;but it also offers an unbeatable package of retiree benefits and discounts. Little wonder there has been a steady influx of expats in the past few years.
Many retirees have settled in Panama City, a fast paced financial hub with a Miami vibe. Others have gravitated to the Pacific Coast towns west of Coronado and the Panamanian version of Key West,laid-back Bocas del Toro on the Caribbean Coast. But if you want a temperate highlands retreat surrounded by unmatched natural splendor, the mountain town of Boquete, an hour’s flight from Panama City, is close to heaven. Here expats settle amid rain forests, coffee plantations, burbling streams, and hummingbirds hovering over dazzling flowers. I'll see you there.

 

[vantexan]

Panama is a smart choice for retirees who want it all,in a country that really wants them. Not only does it feature attractive retirement destinations;sleek capital city, hot beach towns, cool mountain villages;but it also offers an unbeatable package of retiree benefits and discounts. Little wonder there has been a steady influx of expats in the past few years.
Many retirees have settled in Panama City, a fast paced financial hub with a Miami vibe. Others have gravitated to the Pacific Coast towns west of Coronado and the Panamanian version of Key West,laid-back Bocas del Toro on the Caribbean Coast. But if you want a temperate highlands retreat surrounded by unmatched natural splendor, the mountain town of Boquete, an hour’s flight from Panama City, is close to heaven. Here expats settle amid rain forests, coffee plantations, burbling streams, and hummingbirds hovering over dazzling flowers. I'll see you there.

I'll go you one better: Bulgaria. Cheap as Nicaragua, better infrastructure than Panama, and did I mention you can get 100 meg internet there? Panama does have a great pensionado program, but it's boiling hot in most of the country and where it's not costs are pretty high. If you want to be close to the States, LOW cost of living, safe, mountains, cooler air, check out Esteli and Matagalpa in Nicaragua.

 

[I Am Jacks Damaged Box]

If I had to pick Central America, hands down Costa Rica. I would still be heavily armed though...way too many shady ers in that part of the world.

I'd actually take Canada any day over any of our neighbors to the South.

I'm totally taken aback that you'd pull a European country Van, with the socialism and all.

 

[fedex_rtd]

What a sad situation this is, people accepting that they will not be able to live the American Dream, not because they are lazy, but because the company they work for is too dam cheap to pay them a competitive and livable wage like its primary competitor UPS.

I have no desire to be forced to live in a developing 3rd world country with dirt roads and goats in my yard.

 

[vantexan]

What a sad situation this is, people accepting that they will not be able to live the American Dream, not because they are lazy, but because the company they work for is too dam cheap to pay them a competitive and livable wage like its primary competitor UPS.

I have no desire to be forced to live in a developing 3rd world country with dirt roads and goats in my yard.

But with 100 meg internet!

 

[vantexan]

If I had to pick Central America, hands down Costa Rica. I would still be heavily armed though...way too many shady ers in that part of the world.

I'd actually take Canada any day over any of our neighbors to the South.

I'm totally taken aback that you'd pull a European country Van, with the socialism and all.

They came out of communism and, like reformed drunks railing against the evils of alcohol, the Eastern Europeans are wary of socialism. Anyone watching Greece can see the pitfalls that might ultimately break the EU apart.

 

[UpstateNYUPSer(Ret)]

But with 100 meg internet!

So you download a real retirement dream?

 

[vantexan]

What a sad situation this is, people accepting that they will not be able to live the American Dream, not because they are lazy, but because the company they work for is too dam cheap to pay them a competitive and livable wage like its primary competitor UPS.

I have no desire to be forced to live in a developing 3rd world country with dirt roads and goats in my yard.

All of this was inevitable. When companies care about profits first they ship off good paying jobs overseas or replace people with robots. There aren't enough good paying jobs for the people who want them, and what's left over doesn't require a degree and are paid accordingly. On top of that a blind eye has been turned towards our southern border, and now millions of non-citizens are taking work and straining our social services. Republican businessmen do well. Democrat politicians do well. Joe Blow doesn't.

Before you write off the 3rd world there are places with modern communications that are livable. If you'd rather work until you drop go for it. The powers that be in the U.S. see us as a group to be exploited, so, as much as I love the U.S. on a certain level, I have no qualms about leaving it.

 

[vantexan]

So you download a real retirement dream?

Nope, I'll have U.S. sports, news, and movies at home, then go out to enjoy a fine meal with the wife for $10, then go watch the latest American movie in English at theater for $7 for the two of us. Or go to a very nice beach in the summer or visit a nice ski resort in the winter, all very affordable. And once in awhile take a train to Greece, or Italy, or France, or...to see places she's interested in. And when we get home curl up with a good book I downloaded from Kindle.

Or I can stay here and work until I drop.

 

[SmithBarney]

If you say so. I looked on the company intranet today at the pay actions through the 1990's (all pay scales are archived there). When did Express go without raises? During the early 90's recession, which you incorrectly attribute to the demise of Zapmail, which shut down for good in 1987.

2008 no raise

 

[Route 66]

I have no desire to be forced to live in a developing 3rd world country with dirt roads and goats in my yard.

Wait just a second here....that's what my world looks like already!