UPS pension fund falls short, gets ‘yellow’ flag

Discussion in 'Life After Brown' started by klein, Mar 18, 2010.

  1. klein

    klein Für Meno :)

    By Rachel Tobin Ramos

    When Big Brown took on billions of dollars of debt in 2007 to buy some employees out of a union-run pension plan, it seemed like a good idea.
    Then the recession hit, hammering the fund. Recently, the company found itself dealing with concerns about its riskier debt strategy.
    UPS, long a conservative company that eschewed debt and risk, was given what would amount to a “yellow caution” flag by a credit rating agency in January. This was after the Sandy Springs-based company had a pension plan fall below the amount it would need to cover its obligations.
     
  2. moreluck

    moreluck golden ticket member

    Gee, you forgot to mention the part where the fund will be fully funded soon. You only pick the bad news to post.
     
  3. klein

    klein Für Meno :)

    Hey, thats how the article started, and I have been warned not to copy and paste a whole article.
    However, the yellowflag still exists.... see if UPS can keep thier word and make up for it.

    Remember, they are forcing probably apprx. an extra 1000 to take early retirement this month, which will cost some of those funds, too.
     
  4. moreluck

    moreluck golden ticket member

    Next time just post the link and let people think for themselves.....don't need your spin on it!
     
  5. klein

    klein Für Meno :)

    My spin ???? Sorry, I didn't change a single word !
    I simply added the first paragraph, just like Cherly does in her financial updates.

    And I will continue doing so. Therefor, if it's interessting enough, uses can go, (on thier own), to the link or not to read more.