distributing shares in the company to its managers


Well-Known Member
(found surfing the net)

Biography: James Casey, Founder of UPS
A high school dropout who started a bicycle messenger service in Seattle in 1907, James Casey lived long enough to see United Parcel Service become the world’s premier delivery company, which it remains today.
Casey was a humble man. A lifelong bachelor, he lived for many years in a simple hotel room and always wore a dark suit and tie. Neither money nor power interested him much. Over the years he and his brother, who also worked at UPS, gave the bulk of their money, $438 million in all, to the Annie E. Casey Foundation, named after their mother. (It grew to become the eleventh biggest foundation in the United States, with $2.7 billion in assets in 2003.) Two things excited Casey-the people of UPS and the packages they delivered. Casey understood that business was a collective enterprise and that UPS’s success depended upon winning the commitment of its people. To that end, he began distributing shares in the company to its managers in the early 1920s. “The basic principle that I believe has contributed more than any other to the building of our business,” he said in 1955, “is the ownership of our company by the people employed in it.”


As the waves lap up upon the shore down here in NJ, one wonders what Casey would think about selling shares on the open Market. Is that the gist of your question or are you intimating that UPS Management has lost its way.

Brave new world out there Pal.....
It seems to me like the folks at the top are getting greedier and greedier. 4 billion in profit last year and they still want more? Going public caused all this greed. They are ultimately trying to please the almighty stockholders and will do anything they can to do so.

They also fail to realize that the working environment today is not what it was 20/30 years ago when they began their careers. Not only are the folks at the top screwing the hourlies, they are screwing over the front line management people as well (the PT and FT sup's). Many of the current PT and FT sup's that have been around for a long time don't have degrees and basically couldn't go anywhere else. Therefore they stick around and take the abuse. However, most of today's gen X people have degrees and also have different expectations of the management jobs than the old timers.

So an old timer PT/FT sup will put up with peak assignments, 10-12 hour days, verbal abuse by managers and decreased MIP benefits.

A new PT/FT sup with a degree will not put up with peak assignments, 10-12 hour days, verbal abuse by managers and decreased MIP benefits.

They guys at the top are making money by the wagonload. The guys at the bottom are working their asses off and getting the shaft in the process.

It's funny that management always throws around Casey quotes and goes on and on about his legacy. I seriously doubt he would approve of what's going on these days.