Founders Day

DELACROIX

In the Spirit of Honore' Daumier
The egg or the chicken.
The two are intertwined starting around 1993.
UPS had been looking at going public all the way back in the 80s but in 1993, the numbers were beginning to indicate the need for additional cash to buy new companies and to some extent, diversify. UPS management at all levels was very hesitant to go public because they knew it would change the UPS culture in many ways ... most not conducive to continuing the paternal culture within UPS wherein UPS considered all employees equal to some extent and to take care of them all.
The strike of '97 removed that reluctance to not have a paternal attitude towards it's employees. So one of the first things the management committee did immediately after the strike was make the decision to go public and start that 2 year process.

When the stock went public in "99" I can still remember one of our center managers telling us that he just became a millionaire. I still can recall some of our managers just before the event refinancing their mortgages in order to buy more stock and made a more of a killing.

The culture before the strike was not like the good ship lollipop either. They foresaw the disaster of the Central States default looming on the horizon, they decided to roll the dice and lost BIG time in "97". On the Union side the strike was ALL ABOUT financing the failing Teamster's controlled Pension Plans (The Central primarily), granted the 22.3's was a benefit for the rank and file but it has come apparent that the strike was strictly about adding new funding into the pension trusts, much like this one.

The "paternal attitude toward it's employees" was never in place once the strike was over and corporate saw that the children have all grown up and can think for themselves. If I treated my child the same as the company was treating their employees I would be in jail right now.
 
F

Frankie's Friend

Guest
The egg or the chicken.
The two are intertwined starting around 1993.
UPS had been looking at going public all the way back in the 80s but in 1993, the numbers were beginning to indicate the need for additional cash to buy new companies and to some extent, diversify. UPS management at all levels was very hesitant to go public because they knew it would change the UPS culture in many ways ... most not conducive to continuing the paternal culture within UPS wherein UPS considered all employees equal to some extent and to take care of them all.
The strike of '97 removed that reluctance to not have a paternal attitude towards it's employees. So one of the first things the management committee did immediately after the strike was make the decision to go public and start that 2 year process.
Could another deciding factor be that they failed to take over the pension (and lost the money generated with the turnover fees, etc) so plan B was used...going public?
 
F

Frankie's Friend

Guest
When the stock went public in "99" I can still remember one of our center managers telling us that he just became a millionaire. I still can recall some of our managers just before the event refinancing their mortgages in order to buy more stock and made a more of a killing.

The culture before the strike was not like the good ship lollipop either. They foresaw the disaster of the Central States default looming on the horizon, they decided to roll the dice and lost BIG time in "97". On the Union side the strike was ALL ABOUT financing the failing Teamster's controlled Pension Plans (The Central primarily), granted the 22.3's was a benefit for the rank and file but it has come apparent that the strike was strictly about adding new funding into the pension trusts, much like this one.

The "paternal attitude toward it's employees" was never in place once the strike was over and corporate saw that the children have all grown up and can think for themselves. If I treated my child the same as the company was treating their employees I would be in jail right now.
Looking from the inside (and outside) it was interesting that the "self directed work groups", drivers dispatching, the omission of getting held accountable for "standards", and "quality" teams organized prior to the cba coming to an end in 1997 was an attempt to soften the prevailing attitude to accept the offers of HMOs for healthcare, performance based raises in the new CBA and help to energize the membership to trust the company with their pensions.

A couple years of "soft" management treatment did not wipe out the memory of the past.
 

Turdferguson

Just a turd
The strike of '97 removed that reluctance to not have a paternal attitude towards it's employees
beating-a-dead-horse-gif-4.gif

Geezus
 
Top