oldbrownguy
Well-Known Member
I have been reading this forum for years and I have finally decided to add my one cent worth. It used to two cents worth, but what the hell, they have cut just about everything else from us...lol I have been what I consider to be a very loyal employee of over 30 years. I have seen it all and had my share of joys and frustrations. But this present leadership is ruining our once great company. You all know whats taking place, so I am not going to rehash all the details. The one thing that is of great concern to me and many other long timer management people, it our lousy pension. Once I qualified with the years and age requirements, I started to look at it. It didnt take long to realize its going to be less than 50% of my present salary.
In the old days (pre wall street), we could count on the BOD meeting every qtr and the stock would go up 3-4 $$ per share. Then it would split regularly and pay a nice dividend. Many of us took out hypo loans to help our portfolio grow (and it did). Under that scenario, folks built up a nice UPS stock packet worth over a million $ (for most one unit sups that held onto their stock). Then when they retired, UPS would (Maybe) by back up to 10% per year. So the pension didnt matter because the stock was still growing and paying a nice dividend and, they could sell about a 100K per year and live a very nice life. But thats all changed, and the biggest thing is, NOBODY IN ATLANTA CARES that the present pension program for management people STINKS !!
In the old days (pre wall street), we could count on the BOD meeting every qtr and the stock would go up 3-4 $$ per share. Then it would split regularly and pay a nice dividend. Many of us took out hypo loans to help our portfolio grow (and it did). Under that scenario, folks built up a nice UPS stock packet worth over a million $ (for most one unit sups that held onto their stock). Then when they retired, UPS would (Maybe) by back up to 10% per year. So the pension didnt matter because the stock was still growing and paying a nice dividend and, they could sell about a 100K per year and live a very nice life. But thats all changed, and the biggest thing is, NOBODY IN ATLANTA CARES that the present pension program for management people STINKS !!