Was wondering if any one knows if say, I were to buy some stock at the employee price (p/t sup), and then say I find a job elsewhere. Will I be obligated to sell my shares, or could I hold on to them in hopes of future earnings?
I think if you leave the company, you should be able to convert them to "B" shares in your Mellon account. On other neat thing I like about Mellon Investor is the fact one can buy shares from over 200 companies in their direct transaction program. Most of these companies offer a low initial investment requirement, subsequent purchase requirements, DRIPS, etc. In short, a nice way to gradually accumulate shares with modest sums of money. I'm toying with the idea of enrolling, although I'm not sure which company I would like to invest in. Maybe the Boston Beer Company. Hmmm.
I were to buy some stock at the employee price (p/t sup)
At the discounted price? You might want to check into it.
Not about keeping it you can keep it, but often shares that are purchased at a discount are encumbered for some amount of time and during that period you cant sell it.
Often theyll be encumbered for a year or two. I never followed what UPS does specifically because it doesnt apply to me.
A lot of times theyll also limit the amount you can purchase or the number of times you can purchase.
The reason is because they want to prevent you from walking in one morning and buying a big block at a 10% discount then turning around and selling it for full price that afternoon. So once you buy it you generally have to sit on it for a while.
thanks again, folks.
My plan was to hold on to it for a while.
though, I must admit, walking in one moning and buying some at a 10% discount and then selling it right away... never thought of it, but like it.
Can you tell this will be my first stock purchase?
Buy as much as you can-----you can't beat the discounted price---hope you are buying at a low time and that the stock turns out to be a great investment for you.
The next question is are you participating in the 401k-------UPS will match 100% of your contributions up to 3%-----this is the best investment that anyone can make and if you are not contributing 3%-----DROP EVERYHING YOU ARE DOING AND DO IT NOW!!!!You will virtually be getting a 100% return on your investment!!
Can you tell me why that 3% match of the 401k is only for non-union employees?
Seems like that is a subtle slap in the face of union employees or perhaps a jab at organized labor.
Can anyone say "discrimination based on membership in a labor organization"?
I believe "non-union" employees are also allowed to break up a weeks vacation into 2 and 3 day increments for use as personal days. Union employees don't get to do that. Do I hear the "D" word again?
I'm still waiting for a knowledgeable person to explain why the "union-free" people can get a 3% match on their 401k and why they can break up a weeks vacation into increments as personal dayswhile the horrid, terrible, disruptive union folks can't.
"....I guess it's just a perk" isn't good enough. Any management or union steward could respond to this.
How much do you pay for your health benefits? Zero? Nada? Zip? Zilch?
Guess what - the money I pay for my benefits offsets the 3% I get in my 401K.
Do you get overtime? I am assuming yes. We'll we don't I get paid the same if I work 30 or 60 hours. No OT on the weekends or when I get called in at night. So, be careful when throwing out the "D" word. Sometimes it just does not fit.
As far as the vacation - I have no idea. I never had a union employee complain about it. The only reason I could see is scheduling. I had 20 employees once - each with better than 25 years of seniority. It was hard enough to schedule the weeks they wanted I could not imagine trying to sort it out in days....
I hate to break it to you, unfortunately the days of multi-millions is over. I wish it was not, but I was born about 15 years too late. No "D" word needed. I think the "I" word would be a better fit - incentive.
I am sure UPS would be willing to give you a match - but the pie during contract time is only so big - so something else would have to give.
Also is your 401K handled by the union? If so, that could be one of the reasons? (No, that was not a smarta** comment - just a comment).
I had heard the days of multimillionaires were over. Sorry.
The best we, emphasis on "we", can do at contract time is hope that cooler heads prevail than in '97 and a mutually beneficial agreement is reached.
I do want to commend you on the civil, informative nature of your responses. No filth, no trash talk....just facts.
You are a class act and probably an individual I would want to work for/with.