Merit Increase Rumor

[DELACROIX]

$2k/month or less.

That would be for a Union Pension..The question is what is considered "modest" for a Management Pension.

To put it into comparison: David Abney is leaving on the first of June, what will his total compensation be once he signs his papers.

I quick guess 14,000,000 current active compensation annually..50 % of that 7,000,000 with added perks an additional 3,000,000 with stock buy backs and incentive bonuses...

Please correct me if I am wrong on this estimate::

 

[CHEMA-DELMA]

If you could can you define "a modest pension"?

I had just about 30 years under the old system, the Health Care credits changed from 3 points to 1 point some time in the 90's. I pay for that out or my pension, I have buddies that do not pay anything for the health care. Also I had 8 years in the Teamsters, (1 year 8 months of that was at UPS) So they tool $250.00 out of my monthly pension. They never did that until about 2010. My comments were take it back when I turn 64 not now. That fell in deaf ears. Also figured my wife would outlive me so I tool the option that she got half after I pass. Factor all of that in and I will continue working until I can get SS. I get a raise when the Teamster pension starts in another 4 years, there is no COL with the UPS. and you know what the stock has done.

 

[dudebro]

They funded this years raise with the MIP money they stole. New trick this year...if you are over 110 percent of your job grades pay range you only get 2% max. To add to the screw this money is provided as a monthly bonus not added to your base (no more compounding for you) . Over time no one will earn more than 110 of your pay grade. Now calculate how this tricky math impacts your pension ...especially if you have 5-8 years left! With this new language an "acceptable" pay rating gets you the max 2% raise...no need to work toward "strong or exceptional performer" anymore. This change is going to leave a mark on those over 40....

Mgmt isn’t a union job. Since WWII we’ve hired a lot of ex military and their culture persists in ours (that’s why we have “simulation” and even a hub *action summary*).

In this culture, you fight for promotion until you can’t get promoted anymore, then you get out and make room for new mgmt.

We don’t get rid of people but the sentiment is in the pay structure. Hang around at one pay grade too long and you get lower raises.

The way to fix that is to figure out what you need to do to change your pay grade to the next higher one.

 

[dudebro]

That would be for a Union Pension..The question is what is considered "modest" for a Management Pension.

To put it into comparison: David Abney is leaving on the first of June, what will his total compensation be once he signs his papers.

I quick guess 14,000,000 current active compensation annually..50 % of that 7,000,000 with added perks an additional 3,000,000 with stock buy backs and incentive bonuses...

Please correct me if I am wrong on this estimate::

C suite execs live in a whole other universe. Abney will serve on boards and get paid for that, advise on business matters and get paid consultation, etc. He also has more money than his grandkids could spend, so he’s not worried about healthcare, etc. The concerns at his level are nowhere near what ours are.

 

[Boywondr]

C suite execs live in a whole other universe. Abney will serve on boards and get paid for that, advise on business matters and get paid consultation, etc. He also has more money than his grandkids could spend, so he’s not worried about healthcare, etc. The concerns at his level are nowhere near what ours are.

And one man is worth all of that to the company?

 

[What'dyabringmetoday???]

And one man is worth all of that to the company?

Oh yes- he will really make a difference.

 

[dudebro]

You co

And one man is worth all of that to the company?

You could argue for years on what it’s “worth”. You can’t point to the number of stops he serviced and compare them.

What is it worth to be on call 24/7? To know that at least 130,000 FT people depend on good decisions by you for their livelihood? To balance the demands of shareholders who want higher stock prices and dividends with stakeholders who want new trucks and tech.

You could argue whether 13 M is fair and 14 M is not, and I won’t have a good answer for you. I’m pro union ( even in mgmt) because I think unions are one proven method of staving off societal wealth inequality, like Casey did. But, having an idea what Abney or Ms. Tome will have to worry about, you want the absolute best people for that job.

 

[Boywondr]

You co

You could argue for years on what it’s “worth”. You can’t point to the number of stops he serviced and compare them.

What is it worth to be on call 24/7? To know that at least 130,000 FT people depend on good decisions by you for their livelihood? To balance the demands of shareholders who want higher stock prices and dividends with stakeholders who want new trucks and tech.

You could argue whether 13 M is fair and 14 M is not, and I won’t have a good answer for you. I’m pro union ( even in mgmt) because I think unions are one proven method of staving off societal wealth inequality, like Casey did. But, having an idea what Abney or Ms. Tome will have to worry about, you want the absolute best people for that job.

I can be pro management for 13 million. And I'll only work a year so that younger management people can move up.

 

[Boywondr]

Oh yes- he will really make a difference.

His interviews are not impressive imo.

 

[dudebro]

He's more dynamic in person. And I'm no big shot, but I have been here for 30+ years and he was my division manager once.

The CNBC interviews are what they taught him in executive charm school - he's looks to me like he's trying to be as non-controversial as possible. I agree he could be better. Every sentence starts with "Yesterday, I was fortunate enough to have the opportunity to..."

He did make the decision (or at least approve it) to put a sizable amount into the non-union pension when shareholders had bid up the stock to $130 figuring they'd get a huge dividend increase after Trump's tax cut. That didn't happen. Extra buybacks didn't happen with that money either. I'm sure when he had to fly to Boston to meet with State St banks after that, those a-hole vampires asked him whether he was in the package business or the pension business. Selfishly, I appreciated the guts to make that decision.

He is absolutely driving the company to bring more women into management - I've heard over and over this is his idea, and you even see it in his choice of successor. There are studies that say a more equal balance between male and female decision-makers improves the bottom line. We'll see.

Those are the kinds of decisions we're paying for. People think that job is just watching those metal balls click back and forth on the desk but make bad decisions and the company goes out of business.

 

[Boywondr]

He's more dynamic in person. And I'm no big shot, but I have been here for 30+ years and he was my division manager once.

The CNBC interviews are what they taught him in executive charm school - he's looks to me like he's trying to be as non-controversial as possible. I agree he could be better. Every sentence starts with "Yesterday, I was fortunate enough to have the opportunity to..."

He did make the decision (or at least approve it) to put a sizable amount into the non-union pension when shareholders had bid up the stock to $130 figuring they'd get a huge dividend increase after Trump's tax cut. That didn't happen. Extra buybacks didn't happen with that money either. I'm sure when he had to fly to Boston to meet with State St banks after that, those a-hole vampires asked him whether he was in the package business or the pension business. Selfishly, I appreciated the guts to make that decision.

He is absolutely driving the company to bring more women into management - I've heard over and over this is his idea, and you even see it in his choice of successor. There are studies that say a more equal balance between male and female decision-makers improves the bottom line. We'll see.

Those are the kinds of decisions we're paying for. People think that job is just watching those metal balls click back and forth on the desk but make bad decisions and the company goes out of business.

Of course, with big money comes big responsibility. Thx for the info.

 

[What'dyabringmetoday???]

His interviews are not impressive imo.

Yeah- I was attempting sarcasm...

 

[Boywondr]

Yeah- I was attempting sarcasm...

There was no doubt in my mind what you meant.

 

[What'dyabringmetoday???]

There was no doubt in my mind what you meant.

Lol.

 

[UPSER1987]

Yeah- I was attempting sarcasm...

No you weren’t. You got caught off guard with a well thought out response and didn’t know what to say.

 

[UPSER1987]

Lol

 

[What'dyabringmetoday???]

No you weren’t. You got caught off guard with a well thought out response and got caught off guard.

Oh. Thank you for setting me straight.

 

[UPSER1987]

Oh. Thank you for setting me straight.

My pleasure.

 

[DELACROIX]

You co

You could argue for years on what it’s “worth”. You can’t point to the number of stops he serviced and compare them.

You have to remember that David is currently clearing over 14 million annually, compound that with the millions that he made over the last 46 years. To be fair he is not the only one on the many corporate levels that will leave a multi-millionaires, many now are finally coming from the outside sources are already taken care for life, them and their great, great grandchildren.

The current monetary award systems was designed to create a corporate entitlement mindset, in other words many of these executives that sit on these benefit boards actually think they are worth that kind of money, and have a built in bias or even hate toward anybody who challenges their culture and decision making. Thence the corporate decisions made over the years relating to cutting pension and health and welfare benefits or failure to fairly address the looming Central States collapse and it's impact on their bottom line.

What is it worth to be on call 24/7? To know that at least 130,000 FT people depend on good decisions by you for their livelihood? To balance the demands of shareholders who want higher stock prices and dividends with stakeholders who want new trucks and tech.

24/7...Let us say David works 16 hour days (8 hour sleep) over a seven day period, doing some quick math that equals 125,000 per hour. Your 130,000 FT people fails to address any or our Part time people, some of them have been around as long a Abney and will leave with slightly more that 2,000 after 35 years in the Central and under a company controlled pension. We are currently under a crisis and people are starting to see who among us are really the essential workforce and it ain't the shareholders or the redundant layers of corporate decision makers.



You could argue whether 13 M is fair and 14 M is not, and I won’t have a good answer for you. I’m pro union ( even in mgmt) because I think unions are one proven method of staving off societal wealth inequality, like Casey did. But, having an idea what Abney or Ms. Tome will have to worry about, you want the absolute best people for that job.

I was around during Casey's reign, I still remember the l982 two tier contract that somebody decided to use his last will and testament award (1,000 Ft/500 Pt) to each one of his employees as a bargaining chip after he was
dead.

"Unions are one proven method of staving off societal wealth inequality" When they do their job or haven't been gutted by corruption and collusion !!

I sure hope that Ms Tome does do her job, I have seen just too much "Unethical" or "Looking the wrong way" on the operational side, and can only imagine how it is on the corporate level, I have my suspicions.

 

[DELACROIX]

Correction from previous post " 24/7...Let us say David works 16 hour days (8 hours Sleep) over a 7 day period, doing some quick math that equals $3,500 per hour not $125,000.

Math was never one of my strongpoints...