UPS 1st Qtr. Profits are 1.62 Billion

InsideUPS

Well-Known Member
At this pace the company is on pace to make 6.4 Billion dollars in 2013. Would be kind or ironic if we reach a tenative agreement that includes concessions today.

B E A Utiful..... Should help negotiations to some degree..

As far as your comment; "Would be kind or ironic if we reach a tenative agreement that includes concessions today." ....it would not be ironic in my mind.....it would be TRAGIC.. Most interesting to me will be the "spin" that is put on this contract... hopefully that will not be necessary.

FWIW....I still believe that the big "arm twist" of UPS revolves around Teamster Pensions (behind closed doors)....as eluded to in this article posted by Scratch in a different thread.

Teamsters head Hoffa tries to squash own employees' union | The Daily Caller
 
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anonymous6

Guest
UPS said it plans to buy back about $4 billion worth of stock this year, about 5 percent of its current market capitalization of nearly $80 billion. It repurchased shares for $1 billion in the first quarter.


So Profit would have been more...

do you know why companies buy back their stock? is that a good sign?


never mind, someone answered it.
 

teamsterdan

Well-Known Member
ok......apparently this got overlooked and comes straight from the CEO himself.......he will be on CNBC live shortly think its 1630 eastern time........that being said i may be reading too much into it but you make your own call........
"Lastly, I want to provide an update on our labor negotiations. UPS and the Teamsters have made significant progress. We have resolved the most important issues in the contract, and are optimistic that we’ll reach a deal very soon. We are eager to move forward, working in unison with all our employees to deliver unique, innovative products and services that help our customers prosper and enable UPS to deliver superior and consistent results.



UPS's CEO Discusses Q1 2013 Results - Earnings Call Transcript - Yahoo! Finance
 

bbsam

Moderator
Staff member
We were told that the last hurdle to get past was the $1/hr raise for each year of the contract. Of course that was from a regional director of Fedex, so it may not mean squat. However, seemed to square with the above statement.
 

teamsterdan

Well-Known Member
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