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LTIP for the CEO, COO & CFO
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<blockquote data-quote="HOWNOWBROWNCOW" data-source="post: 501593" data-attributes="member: 8103"><p>This partnership has been dead since we went public in 1999. Not everybody realized this in 1999, and believe it or not, there are still some people that don't want to believe it, mostly from retirees who really have no idea how bad things are currently for lower level management. No raises, no 401k match, no career path, and I doubt the 401k match will EVER come back.</p><p> </p><p>Retirement at 55 is now basically a thing of the past since even Region Manager level people have suffered from the negative return on UPS stock over the last 10 years. Look around the Corporate Office and see how many retirement eligible people past age 55 are still hanging around. Why leave your job when you receive LTIP up to 250% of your base pay every year, plus LTI and MIP and another year of service adding to your pension under your belt? If I can't get it in stock growth, I'll get it in salary. </p><p> </p><p>Greed was the reason for the IPO, and it is greed now that is consolidating all the pay for the top 600 employees. It was also greed that got this country in this current financial mess, UPS is just part of the club. Every man for himself. Get used to it. Like Gordon Gecko, our Board of Directors is made up of people from other companies that </p><p>think greed is good.</p><p> </p><p>I actually believe Scott is doing the best he can with the situation he inherited, but it's like trying to fight the incoming tide. The IPO let Pandora out of the box.</p></blockquote><p></p>
[QUOTE="HOWNOWBROWNCOW, post: 501593, member: 8103"] This partnership has been dead since we went public in 1999. Not everybody realized this in 1999, and believe it or not, there are still some people that don't want to believe it, mostly from retirees who really have no idea how bad things are currently for lower level management. No raises, no 401k match, no career path, and I doubt the 401k match will EVER come back. Retirement at 55 is now basically a thing of the past since even Region Manager level people have suffered from the negative return on UPS stock over the last 10 years. Look around the Corporate Office and see how many retirement eligible people past age 55 are still hanging around. Why leave your job when you receive LTIP up to 250% of your base pay every year, plus LTI and MIP and another year of service adding to your pension under your belt? If I can't get it in stock growth, I'll get it in salary. Greed was the reason for the IPO, and it is greed now that is consolidating all the pay for the top 600 employees. It was also greed that got this country in this current financial mess, UPS is just part of the club. Every man for himself. Get used to it. Like Gordon Gecko, our Board of Directors is made up of people from other companies that think greed is good. I actually believe Scott is doing the best he can with the situation he inherited, but it's like trying to fight the incoming tide. The IPO let Pandora out of the box. [/QUOTE]
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