Strike or no strike

[jasar13]

Tie,
After going to a 1 on 1 vision meeting with my supervisor, I found out some interesting things about "your company." He tells me that the supervisors are getting royally screwed with the MIP plan and he will NOT be getting a company pension. The supervisor has 9 years with the company 4 part time, three driving and so far, 2 in management. How come in your neck of the woods all of the flowers are blooming and his needs lots of water? With your terrific 401 match option, dont you think it will be hard for the single/divorced parents to spare 20% of the check to have it matched when they retire in 20 years? Some people can afford 20% when both parents work, most here in NY cant.

Conjecture on the part of your supervisor does not make it a fact. Who told him or where did he get this information that he will not get a pension? I would be interested in seeing that memo.

 

[tieguy]

Tie,
After going to a 1 on 1 vision meeting with my supervisor, I found out some interesting things about "your company." He tells me that the supervisors are getting royally screwed with the MIP plan and he will NOT be getting a company pension. The supervisor has 9 years with the company 4 part time, three driving and so far, 2 in management. How come in your neck of the woods all of the flowers are blooming and his needs lots of water?

Sounds like your sup should have stayed in the ranks if he has already made such assumptions after only two years of management. I can't alibi his negative outlook and his assumptions are not based on any concrete facts. Its clear he also does not understand the concept of a vision meeting if he used it for a personal B session.

With your terrific 401 match option, dont you think it will be hard for the single/divorced parents to spare 20% of the check to have it matched when they retire in 20 years? Some people can afford 20% when both parents work, most here in NY cant.

Why the number 20 percent? At twenty percent he would exceed IRS maximums each year.

 

[705red]

I don't understand the point red. It seems like it would be better to have a 100 percent plan that is healthy then a 40 percent plan that ups has to keep contributing to.

The point wasnt comparing cs pension to other pensions, it was an explanation on why you dont want a fully funded plan. If the plan was 100% funded then the companies would not have to contribute to it. Fyi ups isnt the only contributer to that plan.

 

[tieguy]

The point wasnt comparing cs pension to other pensions, it was an explanation on why you dont want a fully funded plan. If the plan was 100% funded then the companies would not have to contribute to it. Fyi ups isnt the only contributer to that plan.

again my point whats wrong with that. The plan is fully funded. Everyones retiring with what they have earned? Who cares if the companies no longer have to pay into the fund if everyone is getting their retirement? Its a hell of a lot better then what CS is doing now.

 

[705red]

again my point whats wrong with that. The plan is fully funded. Everyones retiring with what they have earned? Who cares if the companies no longer have to pay into the fund if everyone is getting their retirement? Its a hell of a lot better then what CS is doing now.

If you stop contributing to the fund everyone thats retired is getting theirs, but how will we the ones that are not getting our weekly contributions get ours? Just because the fund isnt 100% doesnt mean that the retirees are getting jipped. Now with cs the trustees including ups's trustees tried riding the tech age and attempted to make the quick money instead of investing over the long term like alot of the other supplements. Remember ups has trustees on that cs plan so stop blaming it all on the teamsters!

 

[local804]

Why the number 20 percent? At twenty percent he would exceed IRS maximums each year.

$15,000 allowed each year plus a $5000 make up for those with age as per IRS rules. I think most drivers would be under the cap with a 20% deduction by a few thousand. I am not aware how the UPS match system works or where UPS stops contributing, thats why I am asking. I agree the vision turned into a bi$5h session, but I guess he was just speaking his mind.

 

[local804]

Conjecture on the part of your supervisor does not make it a fact. Who told him or where did he get this information that he will not get a pension? I would be interested in seeing that memo.

He has 2 years in mgmt and my guess is that he is around 40 years of age. He will not recieve a mgmt pension for his years inside the bldg because he was union at that time. He stressed his stock portfolio and other investments were what was going to keep him afloat when he retired. I really didnt go into detail with him about his pension, but he didnt talk too highly about it. I really am not sure how it works with mgmt pensions but dont see no reason why he would lie about it.

 

[FedExers for UPS Strikes3]

The FedEx site will be very busy tomorrow when they tank on their earnings report........not looking good.

Its 11 am and our stock is up $3. Boy, are we really tanking!!!! Are you up $3 today???

 

[FedExers for UPS Strikes4]

If you have a ton of capacity now that must mean your volume now is crap and things are real slow for you.

No, it means we made capital investments for the future. You know, making investments that allow you to grow (or steal UPS packages and jobs while you strike.) That is called strategic planning. You might not understand this concept; your idea of planning is that PAS system that everyone seems to think was a giant waste of money.

 

[westsideworma]

You might not understand this concept; your idea of planning is that PAS system that everyone seems to think was a giant waste of money.

I think he's got us on this one

 

[local804]

Did they take your money when they closed the
thrift plan? I don't think they did...No they gave you options to reinvest your money or the option to withdrawal your money. .

The thrift plan was suppost to be the "golden egg" for the part timers. We alll know it wasnt a retirement fund but alot of people who didnt have alot of money to invest did ok with it(mainly part timers) The other golden egg was the OPL stock. You can only buy UPS stock if you buy one of these for every 3 or 4 UPS stock. Remember the good old times?

 

[1989]

The thrift plan was suppost to be the "golden egg" for the part timers. We alll know it wasnt a retirement fund but alot of people who didnt have alot of money to invest did ok with it(mainly part timers) The other golden egg was the OPL stock. You can only buy UPS stock if you buy one of these for every 3 or 4 UPS stock. Remember the good old times?

Yes, I remember OPL, It was 4 to 1. Is OPL still around? I remember getting money for The liquidation of its assets. They were going to do it in like 4 payments or something. Is that over now?

 

[ups79]

No each of your shares are now worth $0.54.

 

[tieguy]

If you stop contributing to the fund everyone thats retired is getting theirs, but how will we the ones that are not getting our weekly contributions get ours? Just because the fund isnt 100% doesnt mean that the retirees are getting jipped.

They stop contributing when its 100 percent they start contributing again whenever it falls less then a 100 percent.

Now with cs the trustees including ups's trustees tried riding the tech age and attempted to make the quick money instead of investing over the long term like alot of the other supplements. Remember ups has trustees on that cs plan so stop blaming it all on the teamsters!

I could care less who the idiots are acting as trustees on the CS plan. All should be marched out blindfolded and shot for what they did to our peoples pensions. I hope I made that point clear enough.

So again to summarize a 100 percent fully fund that the employer does not have to contribute to would be a god send compared to CS and the other ailing pension funds.

 

[tieguy]

He has 2 years in mgmt and my guess is that he is around 40 years of age. He will not recieve a mgmt pension for his years inside the bldg because he was union at that time. He stressed his stock portfolio and other investments were what was going to keep him afloat when he retired. I really didnt go into detail with him about his pension, but he didnt talk too highly about it. I really am not sure how it works with mgmt pensions but dont see no reason why he would lie about it.

Sounds like someone with some serious issues none of them being UPS created.

 

[tieguy]

The thrift plan was suppost to be the "golden egg" for the part timers. We alll know it wasnt a retirement fund but alot of people who didnt have alot of money to invest did ok with it(mainly part timers)

It was an investment plan in ups stock. It was traded for an investment plan where you could buy the stock itself at a discount.

The some I know that rolled their thrift plan money into UPS stock did much better then just alright when the IPO hit.

 

[tieguy]

No, it means we made capital investments for the future. You know, making investments that allow you to grow (or steal UPS packages and jobs while you strike.) That is called strategic planning. You might not understand this concept; your idea of planning is that PAS system that everyone seems to think was a giant waste of money.

You're down a dollar for the week and yet you claim you're up. Most be more of the smoke and mirrors you guys use when you discuss earnings.
Perhaps you should go back to school and educate yourself before you come back here.

If you guys are stealing our packages why is your domestic overnight volume down 1 percent for the quarter? Oh let me guess. You moved your less profitable air business into the ground network.

Oh ok fdx then how much of your 7 percent ground growth was the result of moving your express business into the ground.

answer jee wilikers we don't know. See its like this as one of your bright and talented execs told the reporter we think it kinda moved that way but we're not sure how much of it moved there or into what segment.
So considering the GDP is moving at about 2 percent and your domestic air lost 1 percent its entirely likely that the 3 percent total air you lost this quarter was either absorbed by UPS or accounted for the entire growth your ground segment experienced. Now if you want to keep trading us high profit air product for low profit ground product then I'm sure we can accomodate you.

Kinda interesting that Dell would start using fdx about the time they get ready to sell their computers through wal mart. Guess they kinda think you two are the same kind of company.

 

[wyobill]

Waaaay to early to be rattling that "strike" saber. Let cooler heads prevail and hope for the best.

In the meantime, Tie made a good point earlier Re: 401k investments. My wife & I made some shrewd decisions in both of our accounts that will protect and provide for us for years to come. Best moves I ever made.

As far as our pension, I'd like to see the Teamsters continue to oversee it.

A.

As far as the teamsters overlooking the pension is like the Fox guarding the chickens. I hope that was a joke on your be-half.

 

[705red]

As far as the teamsters overlooking the pension is like the Fox guarding the chickens. I hope that was a joke on your be-half.

I think he was stating that he didnt trust ups to hold his pension, like alot of us feel that way. Ups also has a hand in the cs pension crisis. I havent met anyone thats interested in a single employer fund.

 

[upsgrunt]

No, it means we made capital investments for the future. You know, making investments that allow you to grow (or steal UPS packages and jobs while you strike.) That is called strategic planning. You might not understand this concept; your idea of planning is that PAS system that everyone seems to think was a giant waste of money.

Don't forget to save some (most) of that capital investments for the claims you will be paying to dell for their computers that grow legs and walk away from the porches you are leaving them at. It won't take too many of those nationwide to put a dent into your smile.