Coldworld
60 months and counting
be lucky you have a job...hourly has to hear this on a daily basis maybe some of you mgt folks should listen to your own advice.
MIP
- Thread starter upsandDOWNS
- Start date
be lucky you have a job...hourly has to hear this on a daily basis maybe some of you mgt folks should listen to your own advice.
Anonymous 10
Guest
That would be fine by me. Sometimes you got to give a little these are hard times and it's there company not ours. So to me it makes sense that they make the sacrifice.
upssalesguy
UPS Defender
what does this mean? are you saying we are going to be outsourced? that's lol funny.
stop being such a selfish driver. management has taken the brunt of the cost savings initiatives, no 401k, no real raises, no promotions, no relocations, all in the name of continuing to honor the driver contract's. I would LOVE to see a driver sacrifice financially for the good of this company.
it's the shareholders who own the company now, and that sucks.
in the mangement report back, the made a big deal about the partnership legacy, so I would actually be shocked if they monkied with the MIP or somehow alienated management any further.
UpstateNYUPSer(Ret)
Well-Known Member
Not our company? I don't know about you but UPS is my career and, as such, this is as much my company it is theirs. Besides that, what difference is it to you what the MIP factor is? It doesn't affect you or I but it is part of their compensation package, as was the 401k match.
I think mgt has sacrificed a lot during this downsizing and they deserve a healthy MIP this time around.
brownmonster
Man of Great Wisdom
I have no problem with an MIP award. I'm just waiting for my Mgmnt team to to something that warrants it.
EAT MY OVERALLOWED
Veteran
You are right. The management cutbacks go directly into the pockets of the friend/T drivers who do nothing for this company but cripple it with their enormous salaries.
Scott Davis, CEO
Compensation for 2009
Salary $1,000,000.00
Bonus $0.00
Restricted stock awards $3,890,437.00
All other compensation $31,345.00
Option awards $ $437,511.00
Non-equity incentive plan compensation $130,523.00
Change in pension value and nonqualified deferred compensation earnings $752,239.00
Total Compensation $6,242,055.00
We are all part of a pyramid scheme here. All the money gets siphoned to the top. Your financial situation is at the mercy of the company and ours is in writing and ironclad. So instead of peddling your financial woes off as overpaid lazy union drivers, why don't you man up for once and look at your fearless leaders for answers.
upssalesguy
UPS Defender
look, guy. I can tell by your screen name that you are all about this company. Scott Davis is the CEO, and those people tradionally make more money then the worker bees. Sorry to break it to you. Do you think he does nothing all day? You try managing a company with a market capitalization of 100 BILLION. MOST of his salary is in stock (RESTRICTED STOCK) that is only worth anything if the stock price goes up. Scott davis could easily be replaced by the Board of Directors if they feel the direction he is leading the company is the wrong direction. Why don't you bone up on corporations and then come back and complain about the CEO....OR you could buy stock and hope the price goes up.
As a shareholder, YOU get to vote on the direction of the company (10 votes for every class A share) This is one of the reasons why MIP (traditionally) is important. UPS gives manager stock so they own more of the company, and thus work harder to make the stock price improve. It's a great concept. Got it?
I'm really glad you feel "protected" by your union, a union that would soon enough throw you right under the bus if it meant their own survival.
this is a management thread. MIP is part of our salaries. NOW will you please go deliver the packages so your union can take all the credit for your hard work?
A pyramid scheme........ are you kidding or what
Do you honestly think you should be compensated like him, i agree it is a lot of money but ceo"s of other fortune 500 companies make a heck of a lot more...... also he is not complaining on here about spc too high....... i bet he is saying they are too low...........LOL
pretzel_man
Well-Known Member
MIP announced tomorrow.... Will hear about 10:30....
401K match is back.
401K match is back.
pretzel_man
Well-Known Member
Do you think you may want to rethink your position???
Scott Davis is the CEO of a fortune 50 company. Last I looked, his pay was nowhere near his peers.
If Scott Davis made zero, the remaining employees in the company could get about $15 per year. I guess if the whole management committee made zero, maybe it would be worth $100 or so per employee per year.
While Scott makes a fraction of what his peers make, a driver on the other hand is the highest paid in the industry.
Is this your definition of a pyramid scheme?
Anonymous 10
Guest
Its my career too but this is not our company and if you don't know this you must be drinking to much. I have always been told by management where I am at that they are owner operators. This is there company I work as directed and therefore I work for them. Am I missing something this is how it has always been. Management made the decision to go public and now they have to answer to wallstreet.
I am an hourly employee who works under a contract and the last time I checked we were still making great profits compared to the rest of the competition. In fact dhl got out of the game except for international in the US. So in my opinion when there are hard times management has to make tough decisions and that's what they did. This is my opinion that's all.
EAT MY OVERALLOWED
Veteran
That's your retort? "Oh, he's the CEO...so its okay!" You must be even more delusional than I assumed. I don't need to bone up on anything. You don't need to know much about this world to figure out that executive salaries are bloated and unjustified. Maybe you should bone up on the economic impact of corporate fascism. This is NOT capitalism and anyone who says otherwise is far gone.
I don't feel protected by the union. I simply stated that our contract locks in our salary and it cannot be changed.
I'll happily go deliver the packages for this company, tough guy. When the sun goes down I'm still less expendable to the company than you are -- that's gotta be a thick pill to swallow.
EAT MY OVERALLOWED
Veteran
I really don't care what his position is. Do you think professional athletes that make 10 million a year aren't overpaid because there are superstars who are paid 30+ million a year? Get a grip..
Just because he makes a fraction of what his friends make doesn't justify the fact that he is in the top .001% of wage earners. I knew before posting his salary that he makes on the low end of compensation for a CEO. That should give most logical people a clue as to just how broken the system is. Of course it doesn't because you are the quintessential donkey chasing the carrot.
pretzel_man
Well-Known Member
Well, of course this is a different discussion than what you posted. You said "pyramid scheme", not me.
If you want to talk executive salaries that's an interesting discussion. What if one CEO vs. another could increase the value of UPS stock by just $1. Just $1
That CEO would have increased UPS value by $1 Billion. How much is that worth? A CEO of a fortune 50 company has a tremendous responsibility. Your blanket statement doesn't fit, does it? What is Steve Jobs worth to an Apple shareowner?
Now, is Davis worth it? The jury is out. Lets see if he can move the stock. $1 equals $1 billion. Lets see.
upssalesguy
UPS Defender
edit: i'm just not going there. peace.
upssalesguy
UPS Defender
i started a thread on this...can you help me understand the automatic deferred contribution?!?
pretzel_man
Well-Known Member
Read my quick response in the other thread. hope it helps a little
high road. Good edit.
Catatonic
Nine Lives
Or an indication you are a Socialist ... this seems more likely.
FracusBrown
Ponies and Planes
I hate to should negative, but every time something good comes along, something not so good follows.
Benefit choices - great the first year. Down hill ever since.
MIP redesign - great 1st year. Down hill ever since.
401k match - great first few years. Down hill ever since.
Public stock - great the first day. Down hill ever since.
401k match and good MIP now is likely to be met with something not so good in the near future.
Benefit choices - great the first year. Down hill ever since.
MIP redesign - great 1st year. Down hill ever since.
401k match - great first few years. Down hill ever since.
Public stock - great the first day. Down hill ever since.
401k match and good MIP now is likely to be met with something not so good in the near future.
