The union and the financial advisor

Discussion in 'UPS Union Issues' started by brett636, Mar 19, 2007.

  1. brett636

    brett636 Well-Known Member

    I was asked in another thread that if I had a financial advisor that was ripping me off would I stick with that advisor or seek a new one. I didn't have time to answer that particular poster and don't remember which thread that was, but I do think this is a good topic for a new thread. Now keep in mind not all aspects of both situations fit together, but this does make a good analogy.

    The answer to that question is yes, I would seek the help of a new advisor. If an advisor comes to me and tells me he can make me millions, but has not done so for a single human being I would be a fool to choose him as my new advisor. I will talk to friends and family with suggestions as to what worked for them. I will do internet research showing me results of different financial firms and advisors. I will not put my money into the hands of someone with no experience.

    Anyone can twist numbers to fit their needs. Anyone can do basic investment math and claim they can do better because of this or that. Results are all that matters. Results prove beyond any reasonable doubt that what is stated is true.

    If the mechanics union were leading this fight I would have already signed a card, but alas they are not. Only an infant organization with no experience in anything wants to take over negotiating for my benefits, wages, and pension. I just do not see anything good to come from this.
     
  2. ups79

    ups79 Active Member

    Over the years I have determined it is better just to put your money in a bank cd's. The fees these advisors and brokers charge are so high that inorder just to break even you need a return of 12%.
     
  3. Channahon

    Channahon New Member

    Like anyhthing else in the business world, you have to hold your financial advisors to the agreed upon return based on your financial risk level. They can make some good money for you, and get you in different investment stratgies that you would not have without them.
     
  4. Sammie

    Sammie Well-Known Member

    Even if you are satisfied with your financial guy, do shop around. Not all doctors are aware of the different procedures, meds, within their field; financial planners are the same.

    My existing planner advised me to keep my 401K with UPS. Told me I couldn't do better.

    I made an appt with someone else who told me of an institution that offers 12% of my 401k balance as a gift if I purchase an annuity with them with my 401k.

    For God's sake, ask around!!
     
  5. brownmonster

    brownmonster Man of Great Wisdom

    Brett good points even if people seem to be missing your meaning. BM
     
  6. 30andout

    30andout New Member

    brett does have some good points, but also a narrow mind and a smart a** attitude.
     
  7. satellitedriver

    satellitedriver Moderator Staff Member

    I agree with 80% of what you posted.
    Can you convince the teamsters to negotiate in the '08 contract, that all monies given to the teamsters from UPS only go to UPSERS?
    If you, or anyone else, could do that I would jump back on the bandwagon and rejoin the teamsters.
    This is my main contention.
    Why should I stay with an organization that takes away 60% of my benefits money and give it to someone that has never worn brown?
    Never have I seen a post that can justify why we (UPSERS) must bear the financial brunt of the teamsters failure to secure the fiscal obligations that it promises.
    Can you please explain why we fund all teamsters and have to take reductions in our pensions and benefits to secure the future of others?
    I can understand your doubts of an unproven organization, but I can not understand why you are a staunch supporter of a organization that does not have the UPS workers best interest at heart and a proven (negative) track record.
     
  8. brett636

    brett636 Well-Known Member

    I know what your main complaint is concerning the teamsters, and I fully agree with you that its not right. What UPS puts into the teamster pension funds needs to go to UPSers.

    One of two things needs to occur to make that happen:

    1. UPSers need to unite and ignite change within the teamsters union. We comprise a large percentage of the teamsters union, and I am willing to bet we are an even greater percentage when it comes to active voting on teamster elections and initiatives. As long as people continue to have apathy for the teamsters way of doing things nothing will change.

    2. We need to look toward other pro-labor organizations to take over for the teamsters who have a proven track record of getting stuff done and issues addressed in a quick manner.

    Both choices require unification among UPSers, both fulltime and parttime. The only thing I can credit the APWA with is if they do succeed in swaying enough people to enact a vote by the NLRB they could get the attention of the teamsters. Which could in turn intiate the change required within our current union. I fully agree that we need our own pension fund separate from all the other companies the teamsters represent. Its already there for the part-timers, and it needs to be there for the full-timers as well. I just don't agree with giving up on the teamsters alltogether and going with some organization that just comes out of the blue.
     
  9. Dixie Doll

    Dixie Doll The Hell You Say

    """Both choices require unification among UPSers, both fulltime and parttime. The only thing I can credit the APWA with is if they do succeed in swaying enough people to enact a vote by the NLRB they could get the attention of the teamsters. Which could in turn intiate the change required within our current union. I fully agree that we need our own pension fund separate from all the other companies the teamsters represent. Its already there for the part-timers, and it needs to be there for the full-timers as well. I just don't agree with giving up on the teamsters alltogether and going with some organization that just comes out of the blue.""""

    I disagree. I understand that, for the most part, we all wanted to believe that today's Teamsters were the same Teamsters of days gone by. But, at some point we have to face the reality. They are not. It does not matter whether you get the attention of the Teamsters or not. Nothing is going to initiate any change within the Teamsters. The Teamsters are in bed with UPS and are not - nor have they been for a long time - working in your best interest. They are and will continue to be controlled by the company. If things are going to change - SOMEBODY has to have the balls to take the challenge. It may well be that this organization out of the blue, as you refer to it, is the one ready to stand up and fight. The only thing that is going to bring the unity back, at this point, is the motivation generated by a new organization who demonstrates that they have the backbone, can not be bought out, and that they are truly going to represent and fight for the member's like it was originally intended to be.
     
  10. sawdusttv

    sawdusttv Active Member

    Brett,
    The APWA is the UPS employees uniting and igniting change, and I agree with most of what you said here except one thing.
    Myself and the rest of the APWA people feel that in order to accomplish what you talk about we must seperate from the teamsters and completely rid ourselves of the lies that the teamsters ingulf us with every time their lips move.
    Just yesterday I presented a coworker with written documentation that disproved one of the lies that the teamsters have been spewing about the APWA, when I gave this driver the proof I asked him how long he was going to follow the teamsters when he holds in his hands, proof that they are twisting things and telling lies in order to sway his way of thinking. He said no more. So, you see it's only a matter of time before people see through the teamster lies. They keep telling them and the APWA keeps exposing them. They are there own worst enemy.
     
  11. brett636

    brett636 Well-Known Member

    You keep beating the same old dead horse. I think we all know the teamsters don't have our best interests at heart when it comes to retirement, but I'm still looking at the full half of the glass. I have excellent pay and benefits, both of which if used wisely can be a great assett when saving for retirment. I work for a company that is unmatched in stability, not only in its own industry, but in the world over. Rocking the teamster's boat is one thing, but trying to flip the entire ship upside down is unnecessary, and could lead to unintended consequences.
     
  12. brett636

    brett636 Well-Known Member

    You have just put into words what I was saying about apathy regarding the teamsters. If the teamsters were truly in bed with the company the full-timers would already have their own pension fund just like the part-timers, because I believe that is what the company wants. They don't want to face ever increasing pension obligations due to less than adaquate pension fund performance. Just remember that we are the backbone of the teamsters, and making change happen is not as hard as it seems.
     
  13. nospinzone

    nospinzone New Member

    Expound on the unintended consequences.
     
  14. satellitedriver

    satellitedriver Moderator Staff Member