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UPS Partners
Redesigned mip
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<blockquote data-quote="onetoofar" data-source="post: 51833"><p>To upscorpis - </p><p>"it's imperative that the newer managers are invested in the company. I think it's more common place for newer management to sell their stock." </p><p> </p><p>As a 'new' manager (since 1999), I am more likely to sell my stock. Tpay for UPS is 30-40 K below market value for nearly all IS mgt positions compared to other NJ/NY companies. There is no way to afford a house or payments in the NE without selling your stock; the median house price is $300K. When the stock was private, you could borrow against it and be reasonably sure you wouldn't default on your loan. Now the stock loses 10% of its value b/c some joker in Atlanta set lousy estimates. </p><p> </p><p>So what do I think? The new MIP is little more than attempt to keep 'young' managers in the company. It's a good thing that I can now get 1/2 of the MIP in cash or I'd be looking for another job. I understand your statement about being invested in the company - my investment in living in NJ &amp; taking 40K less than I can get in NYC. I do this of freewill because I believe in UPS and its future but I'm not betting my family's future on public stock; I'd be a fool to do so.</p></blockquote><p></p>
[QUOTE="onetoofar, post: 51833"] To upscorpis - "it's imperative that the newer managers are invested in the company. I think it's more common place for newer management to sell their stock." As a 'new' manager (since 1999), I am more likely to sell my stock. Tpay for UPS is 30-40 K below market value for nearly all IS mgt positions compared to other NJ/NY companies. There is no way to afford a house or payments in the NE without selling your stock; the median house price is $300K. When the stock was private, you could borrow against it and be reasonably sure you wouldn't default on your loan. Now the stock loses 10% of its value b/c some joker in Atlanta set lousy estimates. So what do I think? The new MIP is little more than attempt to keep 'young' managers in the company. It's a good thing that I can now get 1/2 of the MIP in cash or I'd be looking for another job. I understand your statement about being invested in the company - my investment in living in NJ & taking 40K less than I can get in NYC. I do this of freewill because I believe in UPS and its future but I'm not betting my family's future on public stock; I'd be a fool to do so. [/QUOTE]
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