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UPS Partners
Management that smokes, 3 days until cold turkey
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<blockquote data-quote="beentheredonethat" data-source="post: 1164606" data-attributes="member: 4886"><p>Short term you are right. It does make sense from a purely business perspective. </p><p></p><p>In the past we used to hire from within and people stayed with the company for their career. We were (and are) a very successful company. We were unique in many attributes first from being a privately owned company (that changed). It seems that UPS is looking at all the other companies and saying yeah, yeah.. Let's do that too. I think long term that will bite us in the butt. </p><p>It reminds me of a chapter in one of Peter Lynch's book ("Beating the STreet", "One up on Wall Street") I'm not sure which one. He was the guy in charge of the Fidelity Magellan fund during some of it's most successful years. He talked about how a lot of Mom and Pop banks had very good fundamentals and had been in business for years. He talked how many of them saw the benefits of risky loans that other banks were doing and the profit it generated and decided to go the "Me too" route. Most of them went under. He looked for the banks that stayed the course, offered reasonable risk loans to their clients and continued to make a reasonable rate of return. Those banks survived the big meltdown and eventually thrived. </p><p></p><p>I see UPS as one of those banks that is looking for the short term gains (which we are getting). But I see that we will be paying for it later. My opinion is their are a ton of mgmt in their mid 40's and over who have a lot of time in with the company. Most mgmt we have now under that age we've had a lot of turnover with. I see that in 10+ years as our seasoned mgmt team retires we will have a serious vacuum and we will be hurting. It will take a while, then the mgmt team will try to figure out why and what happened. </p><p></p><p>That's just my 2 cents. I'd rather us continue to be the tortoise and win the race vs being a jackrabbit and showing great results but eventually petering out. </p><p></p></blockquote><p></p>
[QUOTE="beentheredonethat, post: 1164606, member: 4886"] Short term you are right. It does make sense from a purely business perspective. In the past we used to hire from within and people stayed with the company for their career. We were (and are) a very successful company. We were unique in many attributes first from being a privately owned company (that changed). It seems that UPS is looking at all the other companies and saying yeah, yeah.. Let's do that too. I think long term that will bite us in the butt. It reminds me of a chapter in one of Peter Lynch's book ("Beating the STreet", "One up on Wall Street") I'm not sure which one. He was the guy in charge of the Fidelity Magellan fund during some of it's most successful years. He talked about how a lot of Mom and Pop banks had very good fundamentals and had been in business for years. He talked how many of them saw the benefits of risky loans that other banks were doing and the profit it generated and decided to go the "Me too" route. Most of them went under. He looked for the banks that stayed the course, offered reasonable risk loans to their clients and continued to make a reasonable rate of return. Those banks survived the big meltdown and eventually thrived. I see UPS as one of those banks that is looking for the short term gains (which we are getting). But I see that we will be paying for it later. My opinion is their are a ton of mgmt in their mid 40's and over who have a lot of time in with the company. Most mgmt we have now under that age we've had a lot of turnover with. I see that in 10+ years as our seasoned mgmt team retires we will have a serious vacuum and we will be hurting. It will take a while, then the mgmt team will try to figure out why and what happened. That's just my 2 cents. I'd rather us continue to be the tortoise and win the race vs being a jackrabbit and showing great results but eventually petering out. [/QUOTE]
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Management that smokes, 3 days until cold turkey
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