Pismo Bill
Well-Known Member
lets just argue with each other instead of standing up to ups. ups just loves getting members to turn against each other instead of focusing on them.
No noise from retirees about the New Contract and how it affects you
- Thread starter The Milkman
- Start date
Xexys
Retired and Happy
beentheredonethat
Well-Known Member
why is a company making profits a bad thing? It seems that posts like this seem like the company doesn't deserve profits. What is a reasonable amount a company should make per dollar of revenue? Should they be able to make a penny? two cents? 5? 10? more? What do you think is reasonable? (I'm talking about % per dollar of revenue, not total profit.)
Xexys
Retired and Happy
I think that story on the splash page full of news tells it most correctly about the way the company handles everything. You know the story, the one about the guy who was going to die, knew he was, was ready to retire, took his vacation but died while on his vacation and therefore UPS is saying he isn't entitled to his retirement because he was still active. And he was management! Love how this company just refuses to do the right thing in any instance that they can. Meanwhile, giving insane amounts of money to vice presidents and all that crap which is non deserved.
UpstateNYUPSer(Ret)
Well-Known Member
I would think that a net profit of up to 10% would be reasonable.
Catatonic
Nine Lives
The legal entity that is denying the deceased employee's heirs his retirement is NOT UPS, it is the UPS Employee Retirement Program.
It is set up as a separate legal entity so UPS cannot influence decisions made in the distribution of funds, funding of the program, etc.
I remember that the UPS Board and Management Committee wanted to offer pre-55 management early-retirement and they could not do so because of the "tightness" of the legal language of the UPS Employee Retirement Program.
satellitedriver
Moderator
In my informed/biased opinion,
anyone that relies on a company, or a union, to fund their retirement, and healthcare, are on a fool's errand.
Granted,
both are a strong foundation to start building a retirement plan, the rest is up to how one builds their home on top of it.
Educate yourself, save every penny and learn how to grow your investments.
If it was easy, everyone would do it.
Personal responsibility far out weighs people bitchin' about what everyone else owes them.
Worked for me, so maybe it will work for others.
Retirement is like waking up everyday on Saturday.
anyone that relies on a company, or a union, to fund their retirement, and healthcare, are on a fool's errand.
Granted,
both are a strong foundation to start building a retirement plan, the rest is up to how one builds their home on top of it.
Educate yourself, save every penny and learn how to grow your investments.
If it was easy, everyone would do it.
Personal responsibility far out weighs people bitchin' about what everyone else owes them.
Worked for me, so maybe it will work for others.
Retirement is like waking up everyday on Saturday.
The Milkman
Well-Known Member
The Milkman
Well-Known Member
beentheredonethat
Well-Known Member
Although I think 10% net isn't all that much, esp when you compare to other high tech companies or oil companies. Let's agree on that for a moment. 10% net is after taxes, expenses etc. UPS had for FY 2013, 55 Billion in revenue. A 10% profit would be 5.5 Billion. UPS net profit (after taxes) was 4.3 Billion. (roughly 8 % net). From that 8% UPS uses to pay dividends, Uses to invest in buildings, planes, feeders, pkg cars etc. It also uses to pay back debt from borrowings. It also uses it to buy back stock on the open market.
Here's a link to the income statement. http://finance.yahoo.com/q/is?s=UPS+Income+Statement&annual
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