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UPS Union Issues
COLA is a 33 cent adjustment to top scale
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<blockquote data-quote="Its_a_me" data-source="post: 5270458" data-attributes="member: 93115"><p>UPS doesn't pay COLA on the first 3% of inflation. Inflation year over year has been (measured Jan-Dec unlike UPS contract which is in May of every year--which skews yearly numbers)</p><p>2000 3.4%, tech bubble imploded</p><p>2001 1.6%, unpaid tax cuts then 9/11</p><p>2002 2.4%, war</p><p>2003 1.9%, Jobs and Growth Tax Relief Reconciliation Act of 2003 (Bush tax cuts)</p><p>2004 3.3%,</p><p>2005 3.4%, Katrina, destroyed refineries/oil prices</p><p>2006 2.5%,</p><p>2007 4.1%, Hedge funds hiding bad subprime derivatives, banking lending ceases</p><p>2008 0.1% Congress sets up a $700B fund to acquire toxic mortgages(TARP):a year later those mortgages losses were $1.16 trillion</p><p>2009 2.9%, ARRA stimulus of an additional $840B</p><p>2010 1.5%, Obamacare and Dodd-Frank</p><p>2011 3.0%, debt ceiling stalemate</p><p>2012 1.7%,</p><p>2013 1.5%, government shutdown</p><p>2014 0.8%, quantitative easing ends</p><p>2015 0.7%, deflation in energy costs</p><p>2016 2.1%,</p><p>2017 2.1%, <strong>UPS profit $50.60B</strong></p><p>2018 1.9% <strong>UPS profit</strong> <strong>$53.29B up 5.31% from 2017</strong></p><p>2019 2.3% <strong>UPS profits $56.377B</strong> <strong>up 5.79% from 2018</strong></p><p>2020 1.4%, COVID, economic activity contracts 3.4%, <strong>UPS profits $64.05B up 13.61% from 2019</strong></p><p>2021 7.0%, COVID supply shortages, <strong>UPS profits $71.939B up 12.32% from 2020</strong></p><p><strong></strong></p><p><strong>2022 UPS gross profit for the Q1 ending March 31, 2022 was $17.932B, up 4.02% from 2021</strong></p><p><strong></strong></p><p><strong>But somehow Hoffa negotiated the best contract ever?</strong></p><p></p><p>That means you are losing 3% of your wages' purchasing power this year that the GWI must make up for. In addition you are losing out with regards to timing on these COLA wages (instead of being paid COLA starting on June 11th you must wait until Aug 1st. In fact June & July's rates will be in 2023's calculation). Other unions contracts when allowing a 3% inflator--notably John Deere's recent one--pays COLA on a quarterly basis to prevent decrease in purchasing power due to timing.</p><p></p><p>That's because the Union didn't negotiate a contract good enough. See above for example.</p></blockquote><p></p>
[QUOTE="Its_a_me, post: 5270458, member: 93115"] UPS doesn't pay COLA on the first 3% of inflation. Inflation year over year has been (measured Jan-Dec unlike UPS contract which is in May of every year--which skews yearly numbers) 2000 3.4%, tech bubble imploded 2001 1.6%, unpaid tax cuts then 9/11 2002 2.4%, war 2003 1.9%, Jobs and Growth Tax Relief Reconciliation Act of 2003 (Bush tax cuts) 2004 3.3%, 2005 3.4%, Katrina, destroyed refineries/oil prices 2006 2.5%, 2007 4.1%, Hedge funds hiding bad subprime derivatives, banking lending ceases 2008 0.1% Congress sets up a $700B fund to acquire toxic mortgages(TARP):a year later those mortgages losses were $1.16 trillion 2009 2.9%, ARRA stimulus of an additional $840B 2010 1.5%, Obamacare and Dodd-Frank 2011 3.0%, debt ceiling stalemate 2012 1.7%, 2013 1.5%, government shutdown 2014 0.8%, quantitative easing ends 2015 0.7%, deflation in energy costs 2016 2.1%, 2017 2.1%, [B]UPS profit $50.60B[/B] 2018 1.9% [B]UPS profit[/B] [B]$53.29B up 5.31% from 2017[/B] 2019 2.3% [B]UPS profits $56.377B[/B] [B]up 5.79% from 2018[/B] 2020 1.4%, COVID, economic activity contracts 3.4%, [B]UPS profits $64.05B up 13.61% from 2019[/B] 2021 7.0%, COVID supply shortages, [B]UPS profits $71.939B up 12.32% from 2020 2022 UPS gross profit for the Q1 ending March 31, 2022 was $17.932B, up 4.02% from 2021 But somehow Hoffa negotiated the best contract ever?[/B] That means you are losing 3% of your wages' purchasing power this year that the GWI must make up for. In addition you are losing out with regards to timing on these COLA wages (instead of being paid COLA starting on June 11th you must wait until Aug 1st. In fact June & July's rates will be in 2023's calculation). Other unions contracts when allowing a 3% inflator--notably John Deere's recent one--pays COLA on a quarterly basis to prevent decrease in purchasing power due to timing. That's because the Union didn't negotiate a contract good enough. See above for example. [/QUOTE]
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COLA is a 33 cent adjustment to top scale
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