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Redesigned mip
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<blockquote data-quote="proups" data-source="post: 51951"><p>Had Enough: you have chosen a very honorable profession and I respect you for it. I had a friend at UPS many moons ago that was a PE Mechanic, making top rate, and left to be a cop. Be careful and be safe. Good luck to you. </p><p> </p><p>OneTooFar: you are being too short sighted: </p><p>You said: </p><p>"I think you missed my point entirely." </p><p>No, I did not. </p><p> </p><p>"1. Young managers "back then" never had to deal with a volatile stock price when considering hypo. Never." </p><p>You are correct. But during the 70s, stock barely grew at all. Those were very lean years. Take a look if you don't believe me. Those young managers stuck with UPS, bought stock wih hypo's, and it paid off. </p><p> </p><p>"2. My efforts no longer make a direct impact on the MIP given out. The MIP is awarded on how well a group of people guessed we would do on several elements. I personally saved the company $4M last year; this year I'm up to $3 already. That money does not go into the MIP pool anymore." </p><p>Congratulations! Nice job on saving the company money. There isn't a "MIP pool" any more. It is no longer a profit sharing plan. Get over it! You are evidently doing your job. </p><p> </p><p>"3. I still believe in this company. I still think I can make a difference but I'm upset at the end of partnership this MIP change forced. I am constructively dissatisfied." </p><p>You have the right to be constructively dissatisfied. I don't see how the partnership ended with the MIP change. If anything, it emphasized that all UPSers must work together to reach goals that are important to the success of UPS. </p><p> </p><p>"4. UPS stock did NOT grow at 10%. The stock price from 1 year ago today is less than $1 difference." </p><p>Go to any financial page and look at the last five years at UPS stock prices. The graph I saw at money.com shows that we have grown approximately 14.5% in that time frame. Compare that to any/many other stocks and you will see that you have a good thing going with the MIP....and if you keep it, buy more, keep getting results, accept more responsibility when asked (promotions), then you too can be like the "old days" when UPS made management people millionaires. Oh, don't foget about your option to hypo when you have accumulated a lot of stock! </p><p> </p><p>(Message edited by proups on May 06, 2005)</p></blockquote><p></p>
[QUOTE="proups, post: 51951"] Had Enough: you have chosen a very honorable profession and I respect you for it. I had a friend at UPS many moons ago that was a PE Mechanic, making top rate, and left to be a cop. Be careful and be safe. Good luck to you. OneTooFar: you are being too short sighted: You said: "I think you missed my point entirely." No, I did not. "1. Young managers "back then" never had to deal with a volatile stock price when considering hypo. Never." You are correct. But during the 70s, stock barely grew at all. Those were very lean years. Take a look if you don't believe me. Those young managers stuck with UPS, bought stock wih hypo's, and it paid off. "2. My efforts no longer make a direct impact on the MIP given out. The MIP is awarded on how well a group of people guessed we would do on several elements. I personally saved the company $4M last year; this year I'm up to $3 already. That money does not go into the MIP pool anymore." Congratulations! Nice job on saving the company money. There isn't a "MIP pool" any more. It is no longer a profit sharing plan. Get over it! You are evidently doing your job. "3. I still believe in this company. I still think I can make a difference but I'm upset at the end of partnership this MIP change forced. I am constructively dissatisfied." You have the right to be constructively dissatisfied. I don't see how the partnership ended with the MIP change. If anything, it emphasized that all UPSers must work together to reach goals that are important to the success of UPS. "4. UPS stock did NOT grow at 10%. The stock price from 1 year ago today is less than $1 difference." Go to any financial page and look at the last five years at UPS stock prices. The graph I saw at money.com shows that we have grown approximately 14.5% in that time frame. Compare that to any/many other stocks and you will see that you have a good thing going with the MIP....and if you keep it, buy more, keep getting results, accept more responsibility when asked (promotions), then you too can be like the "old days" when UPS made management people millionaires. Oh, don't foget about your option to hypo when you have accumulated a lot of stock! (Message edited by proups on May 06, 2005) [/QUOTE]
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