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<blockquote data-quote="Bagels" data-source="post: 1147014" data-attributes="member: 43436"><p>While most companies go public to raise capital, this was clearly not the case with UPS (or other companies such as FaceBook). At the time of its IPO, UPS was sitting on a large amount of cash & had an AAA credit rating. UPS acknowledged that it was going public primarily to reward its employees - such as its then-CEO Jim Kelly, who earned something like a $30M pay day the day UPS went public. </p><p></p><p>Don't be naive. There's a cost to being traded on Wall Street. UPS didn't make such move to reward its hourly employees -- it did so primarily to reward its management (especially then-management) ... given that they're the ones who made the decision, well, they were rewarding themselves. It's difficult to fault UPS for this, since many felt their management was under compensated within the industry. But I take issue with Hoaxster's rhetoric that UPS's relationship with its employees was never the same after they went on strike... when really UPS's relationship with employees would never be the same after the company went public. </p><p></p><p>If UPSers had never striked and instead remained loyal to UPS, do you think we'd still be getting Holiday turkeys? Or do you think that would've been long forgotten and Scott Davis instead would've continued with his cost-cutting efforts as he has?</p></blockquote><p></p>
[QUOTE="Bagels, post: 1147014, member: 43436"] While most companies go public to raise capital, this was clearly not the case with UPS (or other companies such as FaceBook). At the time of its IPO, UPS was sitting on a large amount of cash & had an AAA credit rating. UPS acknowledged that it was going public primarily to reward its employees - such as its then-CEO Jim Kelly, who earned something like a $30M pay day the day UPS went public. Don't be naive. There's a cost to being traded on Wall Street. UPS didn't make such move to reward its hourly employees -- it did so primarily to reward its management (especially then-management) ... given that they're the ones who made the decision, well, they were rewarding themselves. It's difficult to fault UPS for this, since many felt their management was under compensated within the industry. But I take issue with Hoaxster's rhetoric that UPS's relationship with its employees was never the same after they went on strike... when really UPS's relationship with employees would never be the same after the company went public. If UPSers had never striked and instead remained loyal to UPS, do you think we'd still be getting Holiday turkeys? Or do you think that would've been long forgotten and Scott Davis instead would've continued with his cost-cutting efforts as he has? [/QUOTE]
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