UPS hands stockholders $700 million as workers face poverty wages

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
 

1989

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
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.”
 

rickyb

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

Ancient Alien

UPS Vacation
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
The *what website???*

Do you get free healthcare on that website?

Blogsrusdotcom
 

BrownRecycler

Well-Known 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.
 

BrownRecycler

Well-Known 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.
 
Top