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UPS Partners
New retirement vacation policy
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<blockquote data-quote="DELACROIX" data-source="post: 3877107" data-attributes="member: 49065"><p>Surprising that Old Man did not bring up the "thrift plan". It was topped at 6 dollars a week and open to All UPS employees (union or not). It was eliminated around the mid nineties with an option to buy UPS stock with it's interest gains. The option was also sort of of an IRA/401K with all the penalties applied. It was just before the stock went public.</p><p></p><p>The l997 Strike was a power struggle with Corporate and the IBT on control of the Pension trusts, primarily the Central States Plan. The company saw the underfunding issue many moons before the l997 strike and it was a despair attempt to save future liabilities. It did not change any governing bodies opinions on their attitudes toward their employees or partners, it was a business decision that went south. They underestimated the resolve of their Union workers and Carey worked them over big time. If it was not for the strike in "97" there</p><p> would never be any opportunity for any inside full time positions, all the 22.3's would still be part time and getting part time hours and be in the company controlled pension plan that is formulated to pay peanuts compared to a full time pension benefit.</p><p></p><p>Oz statement I guess relates to the Morrow II employees that Scott D managed in the early nineties. Whatever happen to those guys anyway?</p><p></p><p>In my area rumors were everywhere before the stock went public, we had long term managers refinancing or mortgaging out their homes to buy it just before it on the markets. I guess it was not inside trading, just clever decision making.</p><p></p><p>Ancient history 101...<img src="/community/styles/default/xenforo/smilies/2012/hamwheelsmilf.gif" class="smilie" loading="lazy" alt=":hamwheelsmilf:" title="Hamwheelsmilf :hamwheelsmilf:" data-shortname=":hamwheelsmilf:" /></p></blockquote><p></p>
[QUOTE="DELACROIX, post: 3877107, member: 49065"] Surprising that Old Man did not bring up the "thrift plan". It was topped at 6 dollars a week and open to All UPS employees (union or not). It was eliminated around the mid nineties with an option to buy UPS stock with it's interest gains. The option was also sort of of an IRA/401K with all the penalties applied. It was just before the stock went public. The l997 Strike was a power struggle with Corporate and the IBT on control of the Pension trusts, primarily the Central States Plan. The company saw the underfunding issue many moons before the l997 strike and it was a despair attempt to save future liabilities. It did not change any governing bodies opinions on their attitudes toward their employees or partners, it was a business decision that went south. They underestimated the resolve of their Union workers and Carey worked them over big time. If it was not for the strike in "97" there would never be any opportunity for any inside full time positions, all the 22.3's would still be part time and getting part time hours and be in the company controlled pension plan that is formulated to pay peanuts compared to a full time pension benefit. Oz statement I guess relates to the Morrow II employees that Scott D managed in the early nineties. Whatever happen to those guys anyway? In my area rumors were everywhere before the stock went public, we had long term managers refinancing or mortgaging out their homes to buy it just before it on the markets. I guess it was not inside trading, just clever decision making. Ancient history 101...:hamwheelsmilf: [/QUOTE]
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