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UPS Retirement Topics
Has IBT/CS been a wise steward of our pension?
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<blockquote data-quote="trickpony1" data-source="post: 52891"><p>sawman, </p><p>I'm having mixed emotions about this wage freeze that may revert back to my intense mistrust of the company. I realize what we have now (with the Teamster's) is rapidly decaying but who's to say the company can be trusted with the money that we "give" them through a wage freeze and who's to say our concession won't start a sequence of future concessions? </p><p>It's my opinion that UPS does things for two reasons and guess what?.....you and I are neither of those reasons. Those reasons are: </p><p>1)make money and; </p><p>2)prevent lawsuits. </p><p>The thrift plan was dissolved because UPS decided that they loved us and wanted us to be "partners" and ,yes, I made some money on the deal so four people don't have to post telling me how well they did. But since the IPO the stock hasn't done as well as when it was privately owned nor has it split with the regularity. UPS doesn't care because they have our (my) money and they can blame the poor stock performance on the market analysts. On more than one occasion UPS has shown us (me) that they are above the laws of the land and accountable to no one. While your gesture is a noble one will it turn out to be a mistake when UPS figures out they can now call the shots and there is nothing we (the hourlies) can do?</p></blockquote><p></p>
[QUOTE="trickpony1, post: 52891"] sawman, I'm having mixed emotions about this wage freeze that may revert back to my intense mistrust of the company. I realize what we have now (with the Teamster's) is rapidly decaying but who's to say the company can be trusted with the money that we "give" them through a wage freeze and who's to say our concession won't start a sequence of future concessions? It's my opinion that UPS does things for two reasons and guess what?.....you and I are neither of those reasons. Those reasons are: 1)make money and; 2)prevent lawsuits. The thrift plan was dissolved because UPS decided that they loved us and wanted us to be "partners" and ,yes, I made some money on the deal so four people don't have to post telling me how well they did. But since the IPO the stock hasn't done as well as when it was privately owned nor has it split with the regularity. UPS doesn't care because they have our (my) money and they can blame the poor stock performance on the market analysts. On more than one occasion UPS has shown us (me) that they are above the laws of the land and accountable to no one. While your gesture is a noble one will it turn out to be a mistake when UPS figures out they can now call the shots and there is nothing we (the hourlies) can do? [/QUOTE]
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Has IBT/CS been a wise steward of our pension?
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