I am sick and tired of seeing our stock price languish for the past few years while Fed Ex continues to be the golden child of Wall Street. Let's be honest, they beat us hands down in Marketing and Public Relations. We are too busy doing our many iterations of our whiteboard commercials with that dude with the bad haircut and being the official deliver of Nascar. Whoo hoo! When are we going to wake up and realize that Wall Street does not give 2 cents about our social responsibility. Who cares how many natural gas package cars we have? Who cares that we are on the Global Green 100 list? See all the awards we have won (link below) that have not impressed Wall Street. Or, maybe our stock price would be lower without these awards?
http://www.ups.com/pressroom/us/awards/About+UPS/Awards/ch.Social+Responsibility.syndication
We put more money into these programs and more importantly assign management resources to run them. How many management people have been assigned to Internal Audit for the compliance audits (i.e SOX, Segregation of Duties, Compliance, Risk, etc...). Not to mention there are more external auditors working on the same thing our internal auditors do. It goes on and on. Sure, we are very compliant but does any other company spend as much as we do on Compliance activities (percentage of revenue)
If we have another management layoff (as rumored), I am willing to bet that those who manage our Supplier Diversity program and Internal Audit will not be affected. Instead, they will get rid of the front line supervisors and managers that execute our failed strategy. How many Grade 18's sit in Corporate working on "a project" with no one working for them? We are so top heavy. How many managers are "on the bench" or on "special assignment" from the last Region and District consolidation? Look at SCS. Why was that subsidiary allowed to run so poorly, operating in the red for many years, spending millions without a solid strategy. Why are the upper management that ran SCS never demoted or fired? Why did we purchase Overnite whose infrastructure has been neglected? We keep buying new tractors and upgrading their technology yet many of their vehicles and trailers have not been rebranded yet.
What's the solution? A wholesale management shuffle from the top down and huge culture change. No longer can we have a guy that can dispatch the hell out of a package center making stategy decisions for our organization.
The decision to go public only benefitted a select few who had a great base of stock (earned by many splits over the years when we were privately held) I still remember being told when I was first promoted that I would be a multi millionaire when I retired. How many of you can say that now with virtually flat growth since we went public?
Is anyone else upset about the direction of this company?
http://www.ups.com/pressroom/us/awards/About+UPS/Awards/ch.Social+Responsibility.syndication
We put more money into these programs and more importantly assign management resources to run them. How many management people have been assigned to Internal Audit for the compliance audits (i.e SOX, Segregation of Duties, Compliance, Risk, etc...). Not to mention there are more external auditors working on the same thing our internal auditors do. It goes on and on. Sure, we are very compliant but does any other company spend as much as we do on Compliance activities (percentage of revenue)
If we have another management layoff (as rumored), I am willing to bet that those who manage our Supplier Diversity program and Internal Audit will not be affected. Instead, they will get rid of the front line supervisors and managers that execute our failed strategy. How many Grade 18's sit in Corporate working on "a project" with no one working for them? We are so top heavy. How many managers are "on the bench" or on "special assignment" from the last Region and District consolidation? Look at SCS. Why was that subsidiary allowed to run so poorly, operating in the red for many years, spending millions without a solid strategy. Why are the upper management that ran SCS never demoted or fired? Why did we purchase Overnite whose infrastructure has been neglected? We keep buying new tractors and upgrading their technology yet many of their vehicles and trailers have not been rebranded yet.
What's the solution? A wholesale management shuffle from the top down and huge culture change. No longer can we have a guy that can dispatch the hell out of a package center making stategy decisions for our organization.
The decision to go public only benefitted a select few who had a great base of stock (earned by many splits over the years when we were privately held) I still remember being told when I was first promoted that I would be a multi millionaire when I retired. How many of you can say that now with virtually flat growth since we went public?
Is anyone else upset about the direction of this company?