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CS pension "Cut out the middle man"
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<blockquote data-quote="area43" data-source="post: 244220" data-attributes="member: 4862"><p>cont. from permalink #1</p><p> </p><p>As you can tell by my 3 or 4 earlier post that I got kind of excited. In refernce to the Thread "Think it thru.......pension take over" by Brown Don(permalink 27,article) my key point of interest was with the word "Promises" made by the Teamsters. I might be taking this a little to the extreme but I made a serious mention about the term "Promises" on a much earlier post of mine. Thread. "Is Central States Pension Fund ready to go under", permalink #361. I have already stated this in a earlier post/s. I thought I would just state it again for the record.</p><p> </p><p>Ok, these are some of my thoughts/predictions as of today on the "Buy out". Kind of like a open public diary.</p><p> </p><p>UPS I believe is going to try and pursue "The Plan" that I have suggested. Again, I will use the example of the UPS ft driver that has 10 years vested in the CS mep. Thus, this employee will recieve $10,000 per year of service giving him a total of a $100,000. I have a gut feeling UPS will try and give you this amount in UPS Stock. Yes UPSers, a $100,000 in UPS Stock. If they do this than they should give you the UPS ft employee the choice/option to sell it immediately and deposit all proceeds into the Teamster-UPS 401k with your name on it. Legally I believe this could be done with the right accounting lawyers. Remember, you can only deposit $15,400 a year max in the 401k. Than all future weekly UPS pension contributions will be deposited into your account.</p><p> </p><p>UPS in going with "The Plan" does try to make themselves out to be the hero. Not so fast. Alterior motive. Sammie and Rocky Rogue posted just recently that if there was a strike the share holders would hang/lynch CEO Eskew and all the upper mgt people. Well, as you can see now 35,000 to 40,000 ex Csers(active ft UPS employees) are holding a lot of UPS stock. Thus making them part of the lynch mob. Now, I ask you this. If and I say If we were to go on strike would those ex CS Stock holding active ft UPSers go out on strike. Remember, all your pension is now tied up in UPS Stock. They(ex CSers/UPSers) now own a big part of the company. A strike would or could devastate their stock/pension. Hmmmmm, Could UPS be thinking or actually trying to sell this idea to the Teamsters. Smart Strategy, this would be a great strategy by UPS. Lets just say a great bargaining tool in the months to come. Do I agee, jury is still out. Yes, the Teamsters and UPS want to hammer out an agreement on the contract by Oct 1, but I believe the CS agreement is and might be still a ways off. Does one need the other to be ratified. Contract/CS deal together for it to work. Possible, perphaps. Only time will tell.</p></blockquote><p></p>
[QUOTE="area43, post: 244220, member: 4862"] cont. from permalink #1 As you can tell by my 3 or 4 earlier post that I got kind of excited. In refernce to the Thread "Think it thru.......pension take over" by Brown Don(permalink 27,article) my key point of interest was with the word "Promises" made by the Teamsters. I might be taking this a little to the extreme but I made a serious mention about the term "Promises" on a much earlier post of mine. Thread. "Is Central States Pension Fund ready to go under", permalink #361. I have already stated this in a earlier post/s. I thought I would just state it again for the record. Ok, these are some of my thoughts/predictions as of today on the "Buy out". Kind of like a open public diary. UPS I believe is going to try and pursue "The Plan" that I have suggested. Again, I will use the example of the UPS ft driver that has 10 years vested in the CS mep. Thus, this employee will recieve $10,000 per year of service giving him a total of a $100,000. I have a gut feeling UPS will try and give you this amount in UPS Stock. Yes UPSers, a $100,000 in UPS Stock. If they do this than they should give you the UPS ft employee the choice/option to sell it immediately and deposit all proceeds into the Teamster-UPS 401k with your name on it. Legally I believe this could be done with the right accounting lawyers. Remember, you can only deposit $15,400 a year max in the 401k. Than all future weekly UPS pension contributions will be deposited into your account. UPS in going with "The Plan" does try to make themselves out to be the hero. Not so fast. Alterior motive. Sammie and Rocky Rogue posted just recently that if there was a strike the share holders would hang/lynch CEO Eskew and all the upper mgt people. Well, as you can see now 35,000 to 40,000 ex Csers(active ft UPS employees) are holding a lot of UPS stock. Thus making them part of the lynch mob. Now, I ask you this. If and I say If we were to go on strike would those ex CS Stock holding active ft UPSers go out on strike. Remember, all your pension is now tied up in UPS Stock. They(ex CSers/UPSers) now own a big part of the company. A strike would or could devastate their stock/pension. Hmmmmm, Could UPS be thinking or actually trying to sell this idea to the Teamsters. Smart Strategy, this would be a great strategy by UPS. Lets just say a great bargaining tool in the months to come. Do I agee, jury is still out. Yes, the Teamsters and UPS want to hammer out an agreement on the contract by Oct 1, but I believe the CS agreement is and might be still a ways off. Does one need the other to be ratified. Contract/CS deal together for it to work. Possible, perphaps. Only time will tell. [/QUOTE]
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