I saw this in my local newspaper and was wondering if anyone had any news that was more specific. Teamsters optimistic on UPS negotiations Teamsters President James Hoffa said he's optimistic about reaching a contract agreement with United Parcel Service Inc., which employs 238,000 union members. ``Negotiations are going on today and this week,'' Hoffa said Monday. ``We are very hopeful of an early contract.'' The Teamsters' contract with the world's largest package shipper runs through July 2008. The union struck UPS, based in Atlanta, for two weeks in 1997 before coming to an agreement, and the two sides reached their current accord in 2002 two weeks before a strike deadline. Hoffa wouldn't discuss details of the talks, including UPS's request for a new fund for full-time workers now covered by the multi-employer Central States Teamster pension plan. That plan is underfunded by an estimated $14 billion, and UPS likely would have to make a ``multibillion-dollar payment'' to leave, JPMorgan Chase & Co. analyst Thomas Wadewitz said in May.