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UPS Partners
The truth behind the 1.6 MIP for this year
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<blockquote data-quote="Channahon" data-source="post: 171375" data-attributes="member: 7666"><p>For what it worth.... Change is all around us</p><p>Here's a little history on MIP as it was at my career at UPS. You were given your stock and told to keep it in a drawer and watch it grow. If you ever thought about selling it back to UPS, you had to go to your Manager, Division Manager, who then went to the District Manager for approval. That in itself was a deterrent not to sell you stock. Keep in mind the company was private until 1999.</p><p> </p><p>In today's environment you have the option of taking 1/2 of your stock in cash or 401K. Something I had not been able to do. Who knows what my 401K would be today, if I had that option.</p><p> </p><p>Do I have options that are not the same worth when I received them. You bet I do. Do I dwell over that, no, because some vest in 3,5 or 10 years, before I have to do something with them.</p><p> </p><p>Is there a chance I won't exercise some options based on value, probably. Does that upset me, sure it does. I worked just as hard as the next management person for this company. Do I have other financial means to fall back on, based on that scenario? That is something everyone needs to do, not only for retirement, but I'm not counting on Social Security either.</p></blockquote><p></p>
[QUOTE="Channahon, post: 171375, member: 7666"] For what it worth.... Change is all around us Here's a little history on MIP as it was at my career at UPS. You were given your stock and told to keep it in a drawer and watch it grow. If you ever thought about selling it back to UPS, you had to go to your Manager, Division Manager, who then went to the District Manager for approval. That in itself was a deterrent not to sell you stock. Keep in mind the company was private until 1999. In today's environment you have the option of taking 1/2 of your stock in cash or 401K. Something I had not been able to do. Who knows what my 401K would be today, if I had that option. Do I have options that are not the same worth when I received them. You bet I do. Do I dwell over that, no, because some vest in 3,5 or 10 years, before I have to do something with them. Is there a chance I won't exercise some options based on value, probably. Does that upset me, sure it does. I worked just as hard as the next management person for this company. Do I have other financial means to fall back on, based on that scenario? That is something everyone needs to do, not only for retirement, but I'm not counting on Social Security either. [/QUOTE]
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The truth behind the 1.6 MIP for this year
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