Where does the drivers back pay interest go

[Catatonic]

There are only a handful of supplements and local agreement not passed. Some are and the rest will get last and file offers and then the company will implement them and they those locals can vote to strike of or not if not they take what they get in the last and final offer....

By the end of the year things will be wrapped up one way of the other... Either the local vote yes or the company implements the last and final offer... Forcing the local to only having the option to vote for a strike or not....

The company may have that option but it is an option.

 

[Rico]

The company hasn't paid out the cash yet, but it still has to carry it as an expense on its books.

 

[Catatonic]

The company hasn't paid out the cash yet, but it still has to carry it as an expense on its books.

But the net effect is a positive since UPS is getting interest off the back pay.

 

[Jones]

I guarantee you that UPS would much rather have this contract settled and done with than be making interest off the back pay.

 

[Rico]

But the net effect is a positive since UPS is getting interest off the back pay.

Yes, but it has to kept it pretty much in a cash basis, since the company can't accurately perdict when it will have to pay out. So it might not be making much if anything, given what money market rates are these days.

 

[Catatonic]

Yes, but it has to kept it pretty much in a cash basis, since the company can't accurately perdict when it will have to pay out. So it might not be making much if anything, given what money market rates are these days.

Last month when I sold some stocks, the money was in my account the next morning.

 

[1989]

I would like to find a place to make a guaranteed 5%.

Puerto Rico issued some junk bonds today 8+%

 

[bottomups]

I would like to find a place to make a guaranteed 5%.

Overheard some farmers talking at the grain silo this morning.
SOYBEANS!

 

[Anonymous 12]

So for our union local we were expecting a .80 hourly raise in august. With a average of 45 hours a week that would be a extra $40.00 times that by the number of weeks since the raise and that's $1280.00 per driver.
I'm guessing at the number of drivers, but if it's 200,000 full time drivers for the US. That would equal 256,000,000.00 at 5% interest that's 12,800,000.00 that the company will pocket whenever the contract gets settled.
So basically the company is making mad interest off of our back wage increase and then pocketing it. No wonder they don't want to settle.
And no this does not take into account compounding interest or part timer pay imcrease.


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Scott Davis's pockets.

 

[kingOFchester]

I think they are investing the funds into fixing ORION.

Why would they do that? Orion is perfect. It is the dumb drivers that fail at Orion. You have to look at Orion with Brown tinted glasses to see through the smoke and mirrors.