Davis Paycheck

[LiB]

Win the 540 million lottery jackpot, buy a boatload of shares and then you can be a heard voice. Sounds easy enough.

 

[lr1937]

I think this compensation package goes against UPS past philosophy and Jim Casey's business plan. While I was working the salary of management was reasonable and fair. A $13 mil package is not what I think UPS is all about. It is now about meeting quarterly numbers and paying top officials more than they need. I don't know what his life insurance policy is but I never got one. $5934 pension benefits is a puzzle to me. I guess when he retires he will have one hell of a pension making mine look worthless. How about $14885 for financial planning. Whats there to plan for when he will probably leave the company with more money than he can ever use? What is $566,966 in non equity incentive plan for when he got $9.5 mil in stock awards? and $450,807 in option awards? Why would he need $566,966 when he already got $10mil in stock incentives.
He got an increase of $6623 in health care benefits when I and many others lost some health care benefits. I know my supplemental costs and Part D costs will be much more than the UPS reimbursement. I was told my heath care benefits would be grandfathered when I retired. I guess Davis is my grandfather now that he got an increase and I had mine cut.
I have always trusted UPS to be fair and ethical. I was disappointed with the health care stuff but this compensation package has changed my whole attitude towards UPS. I was always hesitant to sell ups stock and did so at a slow pace. I will no longer be hesitant.
It would be good if our proxy vote could be used to deny this kind of stuff but I think the A share board has control so voting would be a waste. I could be wrong on this point.
I think this compensation package could be used define greed and is one of the problems in our country right now and may very well become problematic for the company.
JMHO1937

 

[browndawg1]

LR, Well said. I realize things change over time. But in my last 30 years with this company, I can say this company has become the place for the have's and have not's in the past 6-7 years. The level 20's and above are getting extremely rich (LTIP would be the keyword) while someone like me (Center Manager) who has taken on several special assignments (District and Corporate) and moved four times to build this company with great QPR scores will not get a raise in the next 3 years. With my minor medical expenses (prescriptions for me and my children ($350) and the increased cost every year of flex benefits), I will be in the hole big time for the rest of my career. Jim Casey and founders never intended this type of structure. We have become just like any other large cap public company. Our young folks will never see the opportunities I had and after 2-3 years of this crap will move on to a better opportunity. The future of brown is screwed. Another keyword people (Record Profits). I would love to see the UPS Board respond to this post. But they don't have the basketballs to respond. Our ERI score will reach a new low where everyone will see the real deal. I can't wait to get out of this mess. Remember this post comes from a person that still loves the people of this company. Brown for life!

 

[airops]

I thought all management had the same crappy health insurance.

 

[8up]

it looks like all the mgmt around here had to chip in to help cover Davis' Paycheck, with the hired help getting between zero & two percent raises. they must be well with it, i don't see any of them jumping ship, probably too difficult to swim with the "golden handcuffs" on.

 

[moreluck]

​

The leaders of America’s unions have been very vocal lately in their criticism of Republicans and of business. According to them, Republicans care only about the wealthy and are unfairly targeting the workers of America with their reforms. These union leaders insist that only they can speak for regular Americans. In fact, their own salaries suggest that they have nothing in common with the average citizen. Here is a short list of some of the highest-earning, and most hypocritical, union presidents:

Michael J. Sullivan, general president of the Sheet Metal Workers’ International Association
Salary: $1,043,023

Make no mistake, after having bailed out the big Wall Street banks, these Republican governors and legislators want to give tax breaks to the same big banks and wealthy individuals who broke our economy. They let Big Business off the budgetary hook, while they gut our pensions to pay the bill and eviscerate our right to stand together as workers.
​

If Mr. Sullivan is truly worried about his union’s pension plan, maybe he shouldn’t collect such a lavish salary?

​

Robert A. Scardelletti, international president of the Transportation Communications UnionSalary: $748,531

Robert Scardelletti hates the fact that the budget proposed by Paul Ryan requires a revamping of the bloated railroad pension system:

As railroad workers and retirees, we understand that those benefits are completely funded by the taxes we and railroad employers pay. But that doesn’t matter to the Republican majorities who voted for this. All they see is a chance to target yet another group of workers in the name of budget austerity. Why let facts stand in the way?
​

Yes, those evil Republicans are always attacking poor workers for fun . . . It’s hard to accept a man as the voice of the oppressed when he’s making such an abundant amount of money.


Newton B. Jones, president of the International Brotherhood of Boilermakers

Salary: $607,022

Newton Jones doesn’t think highly of the Republican party’s leadership:

Do we want a leader who is dedicated to cutting Medicare, Social Security, and unemployment benefits while protecting the assets of the wealthy? Do we want a leader of the free world who is committed to destroying unions and repressing worker rights?
​

Jones acceded to the leadership of the Boilermakers upon his father’s retirement, which suggests a bit of nepotism. It’s difficult to accept his views on assets when his own are so large.

Terence M. O’Sullivan, general president of the Laborers’ International Union of North America
Salary: $589,124

Get ready for corporate America’s favorite game: blame the victim. As pundits address the various reasons for the American auto industry’s problems a frequent target won’t be bloated CEO salaries, a lack of executive accountability, or a flawed business plan. The target will be the men and women who go to work every day doing the [COLOR=#216221 !important][COLOR=#216221 !important]best [COLOR=#216221 !important]job[/COLOR][/COLOR][/COLOR] they can
​

Really? Bloated CEO salaries? If Mr. O’Sullivan feels so deeply about the issue, then perhaps he should return 90 percent of his own income to the union. I’m sure the men and women who go to work every day would appreciate it.
John T. Niccollai, president of the United Food and Commercial Workers Union, Local 464A
Salary: $532,752
In February, Mr. Niccollai explained the reasons for the recession as he tried to rally his union members against renegotiating their contract to save their jobs:

No segment of American society is immune from the devastating incompetence of the prior Republican administration and the amoral corporate greed that brought our economy to its knees.
​

Yet while his local union, in order to lessen job losses, eventually did accept a pay cut, along with a freeze on wages for five years and fewer days off, Mr. Niccollai decided to raise his own salary by $14,000. Who was lecturing on greed again?


Gerald McEntee, international president of the American Federation of State, County, and Municipal Employees

Salary: $512,369

[Republicans] ignore the damage done to the middle class as CEO pay skyrocketed 300 percent since 1990 and corporate profits doubled. These are the candidates of the 1 percent, for the 1 percent, and by the 1 percent. If they have their way, Mitt Romney and the wealthiest people in America won’t have to release their tax returns. They won’t even have to file.
​

Mr. McEntee’s salary places him firmly in the 1 percent of Americans earning over $350,000 a year. Whereas a corporate CEO earns at least a portion of his salary for building a company that returns wealth to its employees and shareholders, for what reason does Mr. McEntee earn such a substantial figure?