UPS hands stockholders $700 million as workers face poverty wages

Discussion in 'UPS Union Issues' started by Will M, Aug 13, 2018.

  1. Will M

    Will M New Member

    Today the World Socialist Web Site published an article exposing UPS dividend payouts of more than $700 million to shareholders last Thursday. The same day, the Teamsters union met in Chicago, Illinois to endorse new contracts for UPS workers that would enforce poverty-level wages and introduce major new concessions.

    The $2.8 billion that will be given to UPS shareholders in 2018 would be enough to give the quarter-million other UPS workers an immediate raise of more than $11,000. This would almost double the annual salary of a part-time warehouse worker on $10 an hour and 25 hours a week.

    It would take such a worker 1,000 years to make what UPS CEO David Abney was paid in 2017.

    This event is an object lesson in the basic operation of capitalism. Where does this $700 million come from? It did not come from thin air; it was not made by UPS' CEO. It was extracted from the labor hundreds of thousands workers around the world.

    The beneficiaries of this process of exploitation are not only the corporate executives that run UPS, but the major institutional investors and super-rich that own UPS stock. The largest UPS shareowners include the hedge funds Vanguard Group (which will receive $46 million), Blackrock ($36 million) and State Street Corporation ($24 million). These hedge funds then distribute their “earnings” to the financial parasites and billionaires that manage and invest in them.

    The full article is available on the WSWS here: UPS pays out $700 million to stockholders: An object lesson in the operation of capitalism
     
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  2. BadIdeaGuy

    BadIdeaGuy Don't discriminate against blind preloaders

    Look everybody!

    @rickyb made an alt account!
     
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  3. rickyb

    rickyb Well-Known Member

    theres tons of critiques of ups on this forum.

    as capitalism continues to break down in America, there will b more specific critiques of capitalism like this article
     
  4. 1989

    1989 Well-Known Member

    Instead of improving ones self, losers will blame others sources for their failures. Ex. “I got fired for being late. Nobody told me I had to be on time.”
     
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  5. brownIEman

    brownIEman Well-Known Member

    Yep, poverty wages. Sad really, when I was an ORS I couldn't even begin to count the number of drivers in my center that had to be on food stamps...
     
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  6. rickyb

    rickyb Well-Known Member

    why not speak the truth instead of pretending one doesn't exist?
     
  7. rickyb

    rickyb Well-Known Member

    ups can afford to pay them living wages. this is the walmart model of being "competitive"
     
  8. I know! Lobster isn't cheap
     
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  9. rickyb

    rickyb Well-Known Member

    cmooooon
     
  10. It isn't cheap
     
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  11. But Walmart doesn't give out benefits.
     
  12. 1989

    1989 Well-Known Member

    I’m telling you that these losers exist. They are real. It’s the truth.
     
  13. rickyb

    rickyb Well-Known Member

    yea and im saying you can improve yourself and blame the system too
     
  14. Fitbit App :)

    Fitbit App :) Vote! We all agree everybody should vote

    The *what website???*

    Do you get free healthcare on that website?

    Blogsrusdotcom
     
  15. Fitbit App :)

    Fitbit App :) Vote! We all agree everybody should vote

    Lobster is cheap as can be where @Covemastah lives.

    It was once feed to prisoners and dogs as trash food ya know.

    True story!
     
  16. Yes they actually banned them from feeding it to the prisioners because it was considered to be cruel.
     
  17. rickyb

    rickyb Well-Known Member

    theres good journalism on there.

    u get free healthcare as soon as u leave America for any other developed country...
     
  18. The Driver

    The Driver I drive.

    I eat so much of it that it's starting to taste like soap. :(
     
  19. BrownRecycler

    BrownRecycler Member

    Poverty happen when you are part time, disabled, and unemployed not full time.

    However, poverty level is ignoring healthcare cost, so it is a rigged government system like COLA and labor rate index. Government doesn't want to keep paying out food stamp, medical, and cash to people if they abide to the "correct" poverty level.
     
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  20. BrownRecycler

    BrownRecycler Member

    If there was ever going to be a possible recession, the government have the power to rig the market to prevent recession by stepping in and give out economic stimulus package to all people. The economic stimulus was distributed via unemployment benefit, education to look for job program, etc.