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UPS Partners
The partnership legacy is dead
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<blockquote data-quote="Anonymous for a reason" data-source="post: 131117"><p>The MIP factor is the final straw. First they sold our Company to create scandalous wealth for a few (check out Charlie's new house in Atlanta) and eliminated the possibility for future supervisors and managers to build wealth through hypothecation. Then they destroyed the partnership by eliminating the sharing of profits.</p><p></p><p>Partners share in the profitability and risk of a business venture. Casey understood that, and it created the culture and ethic that built our Company to what it is. But we're not partners anymore. We are just compensated employees who must wait for a sizable chunk of our compensation until the Salary committee (shame on you, Victor) decides how much we will be paid.</p><p></p><p>This year saw record profits, record cash flows, and more importantly, record profit margins (3 times what they were in the 90's). Instead of sharing those profits, the Company decided to give us a 15% pay cut because their non-auditable voodoo math says they can.</p><p></p><p>Since the Company doesn't treat me like a partner, I'm through acting like a partner. After giving sizable pay raises to our Union employees (the pilots, most recently), and to themselves, we have been forced to accept 3% "merit" increases that don't even keep up with inflation, let alone the benefit cost increases. Now this 1.6 slap in the face.</p><p></p><p>I used to work for United Parcel Service Company, a company that stood for integrity, honesty, hard work, superb service, and an ownership culture. Now I work for UPS, 3 letters that don't stand for anything. Thanks, Mike Eschew. 20 years is enough. I'm outta here.</p></blockquote><p></p>
[QUOTE="Anonymous for a reason, post: 131117"] The MIP factor is the final straw. First they sold our Company to create scandalous wealth for a few (check out Charlie's new house in Atlanta) and eliminated the possibility for future supervisors and managers to build wealth through hypothecation. Then they destroyed the partnership by eliminating the sharing of profits. Partners share in the profitability and risk of a business venture. Casey understood that, and it created the culture and ethic that built our Company to what it is. But we're not partners anymore. We are just compensated employees who must wait for a sizable chunk of our compensation until the Salary committee (shame on you, Victor) decides how much we will be paid. This year saw record profits, record cash flows, and more importantly, record profit margins (3 times what they were in the 90's). Instead of sharing those profits, the Company decided to give us a 15% pay cut because their non-auditable voodoo math says they can. Since the Company doesn't treat me like a partner, I'm through acting like a partner. After giving sizable pay raises to our Union employees (the pilots, most recently), and to themselves, we have been forced to accept 3% "merit" increases that don't even keep up with inflation, let alone the benefit cost increases. Now this 1.6 slap in the face. I used to work for United Parcel Service Company, a company that stood for integrity, honesty, hard work, superb service, and an ownership culture. Now I work for UPS, 3 letters that don't stand for anything. Thanks, Mike Eschew. 20 years is enough. I'm outta here. [/QUOTE]
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The partnership legacy is dead
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