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UPS Partners
Future of MIP! Future of this once great company
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<blockquote data-quote="beentheredonethat" data-source="post: 1089790" data-attributes="member: 4886"><p>jeepguy63... I agree with most everything you wrote. However, you understated the issue. It's not really a 30% cut in MIP. You are basing that on saying they gave us a 70% to goal. Keep in mind, their goal is fictitious. It wasn't all that long ago that the MIP was based on 15% of profits, vs the salary of all mgmt (2*sum(mgrs monthly salary) + sum(supv monthly salary). If this was the case, I'm willing to bet that the MIP would have been closer to a 3.5. So even though you are upset, the mgmt committee already has you thinking they screwed you by 30% when in fact they screwed you by a heck of a lot more then that. It's ironic you bring up unionization. I had the opinion that this is a possibility if the trends continue. Unfortunately, what they are doing is working and I see it working well for anothe r5 - 10 years. However, after that point in time, I see problems. There are a lot of mgmt people that are 5-10 years from retirement. After that we will have a serious lack of mgmt talent with lots of experience. At that point I think we will be showing a lot of cracks in our infrastructure. The main thing keeping me here is the promise of a pension. They already took away the pension as we know if for new mgmt. (New mgmt gets defined contribution, vs defined benefit - which means the risk is 100% on us, vs the company). I'm just hoping they don't enhance us too much before I get out. I'm just glad I've got 25 years in so even if they make changes I should be locked in for some kind of pension (I hope).</p></blockquote><p></p>
[QUOTE="beentheredonethat, post: 1089790, member: 4886"] jeepguy63... I agree with most everything you wrote. However, you understated the issue. It's not really a 30% cut in MIP. You are basing that on saying they gave us a 70% to goal. Keep in mind, their goal is fictitious. It wasn't all that long ago that the MIP was based on 15% of profits, vs the salary of all mgmt (2*sum(mgrs monthly salary) + sum(supv monthly salary). If this was the case, I'm willing to bet that the MIP would have been closer to a 3.5. So even though you are upset, the mgmt committee already has you thinking they screwed you by 30% when in fact they screwed you by a heck of a lot more then that. It's ironic you bring up unionization. I had the opinion that this is a possibility if the trends continue. Unfortunately, what they are doing is working and I see it working well for anothe r5 - 10 years. However, after that point in time, I see problems. There are a lot of mgmt people that are 5-10 years from retirement. After that we will have a serious lack of mgmt talent with lots of experience. At that point I think we will be showing a lot of cracks in our infrastructure. The main thing keeping me here is the promise of a pension. They already took away the pension as we know if for new mgmt. (New mgmt gets defined contribution, vs defined benefit - which means the risk is 100% on us, vs the company). I'm just hoping they don't enhance us too much before I get out. I'm just glad I've got 25 years in so even if they make changes I should be locked in for some kind of pension (I hope). [/QUOTE]
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