King Of Queens
Active Member
Does Anyone know what site to watch reguarding the Ups Earnings report tomorrow. Tuesday ???
Tuesday Ups Earnings Report
- Thread starter King Of Queens
- Start date
Catatonic
Nine Lives
It's linked off UPSers.com
rod
Retired 22 years
Hoaxter are you still confident about the share hitting 70 next year? Cough.....Cough
Is there such a thing as -70
Catatonic
Nine Lives
Hoaxter are you still confident about the share hitting 70 next year? Cough.....Cough
Next year is 2012, right!
Jack4343
FT DR Specialist
Here's the earnings report...
http://www.ups.com/pressroom/us/press_releases/press_release/0,1088,5079,00.html
http://www.ups.com/pressroom/us/press_releases/press_release/0,1088,5079,00.html
browniehound
Well-Known Member
Ouch! Bad news all around.
However, the earnings report is better than most other companies are reporting. Times are tough but we are still operating in the black. When the economy rebounds in the next decade
dissapointed
UPS will be back where it used to be beating wall street estimates and growing earnings.
I'm feeling terrible for the UPS shareholders. Mostly the ones that are employed at UPS, hourlies and management included. We gave our sweat to the company and it hurts when our money loses half of its value.
If you are a center manager at UPS and are 55-60 years old what just happened in the last 6-12 months? Your plan for retirement must be severely altered, no? I don't care what differences we had, I would never wish this loss on anyone.
I learned a very valuable lesson at age 30. Stocks can provide tremendous growth and fund your retirement, but they must be considered for what they really are. Risky investments that can lose money or most of its value very quickly.
I witnessed the 1990's and the huge market run-up. When things went south in early 2000 and beyond, I thought that would be the worst bear market I would ever see! That was one of the worst bear markets we had seen.
The one we are experiencing now makes the 2000-2002 look like a minor dip! I know everyone is still recieving their dividend checks but to see your UPS nestegg AND your 401k balance to be reduced so significantly must be unbearable!
Man, have I learned a lesson! I still have 30 years (maybe 90 years now because of the market, lol) until retirement. I now know 15 years out I will begin to make stocks a minimal part of my portfolio.
I don't care if I have to work longer. I will trade this off for losing everything. I just think of our mangers at UPS who are 55-60. Do you have to work until you are 70 now?
However, the earnings report is better than most other companies are reporting. Times are tough but we are still operating in the black. When the economy rebounds in the next decade
dissapointed UPS will be back where it used to be beating wall street estimates and growing earnings.I'm feeling terrible for the UPS shareholders. Mostly the ones that are employed at UPS, hourlies and management included. We gave our sweat to the company and it hurts when our money loses half of its value.
If you are a center manager at UPS and are 55-60 years old what just happened in the last 6-12 months? Your plan for retirement must be severely altered, no? I don't care what differences we had, I would never wish this loss on anyone.
I learned a very valuable lesson at age 30. Stocks can provide tremendous growth and fund your retirement, but they must be considered for what they really are. Risky investments that can lose money or most of its value very quickly.
I witnessed the 1990's and the huge market run-up. When things went south in early 2000 and beyond, I thought that would be the worst bear market I would ever see! That was one of the worst bear markets we had seen.
The one we are experiencing now makes the 2000-2002 look like a minor dip! I know everyone is still recieving their dividend checks but to see your UPS nestegg AND your 401k balance to be reduced so significantly must be unbearable!
Man, have I learned a lesson! I still have 30 years (maybe 90 years now because of the market, lol) until retirement. I now know 15 years out I will begin to make stocks a minimal part of my portfolio.
I don't care if I have to work longer. I will trade this off for losing everything. I just think of our mangers at UPS who are 55-60. Do you have to work until you are 70 now?
brownmonster
Man of Great Wisdom
Mgmnt has a pension along with their stock.
rod
Retired 22 years
at least for now they do
rod
Retired 22 years
I thought you were suppose to send all your gold to Ed McMahon
local804
Well-Known Member
UPS Profitable In Tough EconomyUPS has released its financial numbers for the fourth quarter of 2008. Brown continues to haul in substantial profits.
Despite the worst economic conditions in 70 years, UPS made $829 million from Oct. to Dec. 2008. Revenue went up 3.6 percent in 2008 to $51.5 billion. For the full year, UPS made an operating profit of $5.4 billion and after-tax profits of $3 billion.
The company took accounting write-offs, including a $548 million “goodwill impairment charge” and a $27 million “impairment charge” which reduced its after-tax profits for the fourth quarter to $254 million—a figure that has appeared in some press accounts.
Impairment charges allow a corporation to write off profits based on the falling value of its name or “goodwill.”
The company reported its operating profits, which paint a more accurate picture. The U.S. package operation alone made an operating profit of $932 million in the fourth quarter. International package made $366 million in profit. UPS Freight also made money despite the terrible conditions in the freight industry.
UPS Freight and the company’s logistics operations made $53 million in profit, before they took a write-off of $549 million “goodwill impairment.”
Declining Volume and Prospects for 2009
Total U.S. package volume fell by 4.4 percent. Ground volume was down 3.7 percent and Next Day Air volume dropped by 10.1 percent. The company is using the drop in volume to try to justify its elimination of full-time jobs in violation of Article 22.3 of our contract. But management doesn’t have a leg to stand on.
An arbitrator has explicitly rejected this argument in a previous case on the same issue with UPS. In a conference call with industry analysts and the press, management gave a gloomy forecast for the coming year.
“This year will undoubtedly be one of the most difficult in UPS’s history,” said Kurt Keuhn, UPS’s Chief Financial Officer.
The company also announced it is freezing management salaries and suspending its 401(k) match for nonunion employees. If the sups and suits are extra grumpy, you know why.
Despite the worst economic conditions in 70 years, UPS made $829 million from Oct. to Dec. 2008. Revenue went up 3.6 percent in 2008 to $51.5 billion. For the full year, UPS made an operating profit of $5.4 billion and after-tax profits of $3 billion.
The company took accounting write-offs, including a $548 million “goodwill impairment charge” and a $27 million “impairment charge” which reduced its after-tax profits for the fourth quarter to $254 million—a figure that has appeared in some press accounts.
Impairment charges allow a corporation to write off profits based on the falling value of its name or “goodwill.”
The company reported its operating profits, which paint a more accurate picture. The U.S. package operation alone made an operating profit of $932 million in the fourth quarter. International package made $366 million in profit. UPS Freight also made money despite the terrible conditions in the freight industry.
UPS Freight and the company’s logistics operations made $53 million in profit, before they took a write-off of $549 million “goodwill impairment.”
Declining Volume and Prospects for 2009
Total U.S. package volume fell by 4.4 percent. Ground volume was down 3.7 percent and Next Day Air volume dropped by 10.1 percent. The company is using the drop in volume to try to justify its elimination of full-time jobs in violation of Article 22.3 of our contract. But management doesn’t have a leg to stand on.
An arbitrator has explicitly rejected this argument in a previous case on the same issue with UPS. In a conference call with industry analysts and the press, management gave a gloomy forecast for the coming year.
“This year will undoubtedly be one of the most difficult in UPS’s history,” said Kurt Keuhn, UPS’s Chief Financial Officer.
The company also announced it is freezing management salaries and suspending its 401(k) match for nonunion employees. If the sups and suits are extra grumpy, you know why.
UPSNewbie
Well-Known Member
Yes. Lose half of your investment. Jump out now.
OK- since I've been retired all my friends and relatives have accused me of being a goof off so does that mean I can take this "impairment " deduction because my "good name" has fallen in value? Who the friend came up with this loop-hole
It is not a write-off you want to take. UPS is basically saying we paid too much for overnite, overstated the value of our assets and the company is worth $750M less than we had thought.
http://www.investopedia.com/articles/analyst/110502.asp
rod
Retired 22 years
Just curious---are the people that paid too much for Overnite and over stated the value of our assets still with the company? Did they get a bonus?
beentheredonethat
Well-Known Member
It's not quite that simple though. Technically what is the value of a company? Part of goodwill is the value of the companny of the potential of making profit, and it's name brand. Technially the only value of Overnight was what it owned for buildings and vehicles, plus money it had in the banks, less money it owed. But how many companies would sell for exactly that number? For example, coca cola companny has a market cap of 98 billion dollars. So if anyone where to buy them for 98 billion dollars (assuming you didn't have to pay a premium to current price). You wouldn't buy 98 billion worth of equipment, syrup, buildings etc. The value of coca cola is the formula and the ability of this company to sell their product.
