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UPS Union Issues
Union Politics - Tim S for General President 2016
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<blockquote data-quote="Bubblehead" data-source="post: 1557439" data-attributes="member: 14176"><p>Doesn't matter who proposed what.</p><p>It was accepted by Hoffa and Hall and sold to the membership as a positive.</p><p></p><p></p><p></p><p>A freshman college math student in Actuarial 101 would have been able to see that letting the only "cash cow" (UPS) out of the fund, while the other participating companies were retracting, would spell imminent doom </p><p>for the fund.</p><p>Pension funds are the original ponzi scheme, predicated on continual participation as well as prudent investment.</p><p>So yes, shame on Hoffa/Hall and their "brightest investors".</p><p></p><p></p><p></p><p>I agree that this is my opinion, but why would any of the members from the other companies balk at the notion of UPS members and the $6+ billion "infusion" bailing out their failing pension fund?</p><p>This is how it was sold to the membership, right?</p><p>Irony has it that it was actually the opposite, a band-aid on a stuck pig.</p><p></p><p></p><p></p><p>I won't pretend to be familiar with these "new rules", as I drive a package car 50 hours a week.</p><p>I try to keep up and consider myself fairly well read, considering.</p><p>Since 2008 and this subsequent rule change, how many newly organized Teamsters are presently contributing to the Central States Pension Fund?</p><p></p><p></p><p></p><p>I know the funds are independent of one another, but are you trying to sell us on the premise that they aren't affiliated?</p><p>Are you trying to tell us that TeamCare wasn't conveniently re-branded in 2011, formally known as the Central States Health and Welfare Plan?</p><p>Doesn't the contract still refer to it as the "Central States Health and Welfare Plan" in Art. 34?</p><p>Are we to believe all of this to be a coincidence? </p><p></p><p></p><p></p><p>...and with this in mind, who should we blame???</p></blockquote><p></p>
[QUOTE="Bubblehead, post: 1557439, member: 14176"] Doesn't matter who proposed what. It was accepted by Hoffa and Hall and sold to the membership as a positive. A freshman college math student in Actuarial 101 would have been able to see that letting the only "cash cow" (UPS) out of the fund, while the other participating companies were retracting, would spell imminent doom for the fund. Pension funds are the original ponzi scheme, predicated on continual participation as well as prudent investment. So yes, shame on Hoffa/Hall and their "brightest investors". I agree that this is my opinion, but why would any of the members from the other companies balk at the notion of UPS members and the $6+ billion "infusion" bailing out their failing pension fund? This is how it was sold to the membership, right? Irony has it that it was actually the opposite, a band-aid on a stuck pig. I won't pretend to be familiar with these "new rules", as I drive a package car 50 hours a week. I try to keep up and consider myself fairly well read, considering. Since 2008 and this subsequent rule change, how many newly organized Teamsters are presently contributing to the Central States Pension Fund? I know the funds are independent of one another, but are you trying to sell us on the premise that they aren't affiliated? Are you trying to tell us that TeamCare wasn't conveniently re-branded in 2011, formally known as the Central States Health and Welfare Plan? Doesn't the contract still refer to it as the "Central States Health and Welfare Plan" in Art. 34? Are we to believe all of this to be a coincidence? ...and with this in mind, who should we blame??? [/QUOTE]
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