UPS Profits Top $4.3 Billion

Discussion in 'UPS Union Issues' started by Brother Joe, May 9, 2012.

  1. Brother Joe

    Brother Joe New Member

    UPS Profits Top $4.3 Billion

    UPS executives report the company hauled in more than $4.3 billion in profits after taxes in 2011.

    UPS’s profits for the Fourth Quarter were $1.25 billion. These figures do not include a $527 million surcharge because of an accounting change in the way UPS tracks its pension expenses.

    Including the accounting change, UPS made $725 million in the fourth quarter and $3.8 billion for the year.

    UPS predicts that profits will grow 9 to 15 percent this year. That could bring profits this year close to $5 billion
  2. Floyd Gondolli

    Floyd Gondolli New Member

    Cool. A 80lb. package is still going to weigh 80lbs. though
  3. Jackburton

    Jackburton Gone Fish'n

    I want this company to make more money, they just need to make sure they pay the people that made it happen.
  4. Anonymous 10

    Anonymous 10 Guest

    I hope we make ten billion profit this year.
  5. Brother Joe

    Brother Joe New Member

    I'm going to do everything I can for us Teamsters to get a fairer share!
  6. Monkey Butt

    Monkey Butt Dark Prince of Double Standards Staff Member

    I'm sure it will make a big difference!
    Perhaps you should buy some UPS stock shares so you can vote out the Board of Directors and put TDU in charge.
  7. Brother Joe

    Brother Joe New Member

    Buying a single share has been a tactic that has been used as part of a bigger strategy.
  8. Bullet1951

    Bullet1951 New Member

    Well Brother Joe -Just to enlighten you -----Dont look for anything big in the next contract ------- either in pension -- wages or anything --The "new" UPS doesnt care about you ------As a manager told us Feeder drivers one day a few yrs ago---------"Your just a bunch of dumb truck drivers who can be replaced anytime "
  9. Brother Joe

    Brother Joe New Member

    I don't expect much from ups or the jr regime. Its up to the rank & file to organize for a better contract. We can do it. There are more of us than them.
  10. beentheredonethat

    beentheredonethat Well-Known Member

    What is a fair share? Why is it that if a company makes a profit of roughly 12% that is considered bad? What should the companies profit margin be? I think it's ironic that the UPS drivers are paid the highest in the industry. The best wages, more money spent on your behalf for HW & Pension. The CEO has had large increases in his pay. Personally I am not crazy about it. However, compared to his peers, he is underpaid in comparison to other CEO's. Why is it that the drivers are paid the highest in the industry, and Scott Davis is no way near the highest in the industry and you complain about how he is overpaid? If he is, does this mean you are way overpaid? What should your pay rate be?

    Personally, I think the pay rate is OK, I think the biggest issue as a company is we need to bring up the starting wage of the PT hourlies (probably by $2/hr minimum). With the pay rate FDX gives it's workforce (or non workforce in the respect of FDX Grd). They have some definite advantages. I see the next contract split contract, and severely slowing the rate of increase to Pen & HW. Therefore, you will start paying out of pocket more for H&W. Keep in mind. I am not saying a cut in what UPS contributes for HW&P. I am saying limiting the increases to closer to inflation. However, with medical going up much higher then inflation, it will mean more copays and coinsurance costs. All Mgmt now have been paying for HW for years. I have hundreds of dollars a month taken out of my pay check for my family.
  11. PobreCarlos

    PobreCarlos New Member

    Brother Joe;

    Be careful of what you wish for! Who's to say what a "fairer share" might be?
  12. Brother Joe

    Brother Joe New Member

    A fair share that I couldn't see a reasonable person dispute would be that wages would go up with productivity & inflation. That has not been the case since the 70's. george pullman the tyrant that he was only demanded a 6% profit. Since ups went public ceo pay as well as the rest of the higher ups have been getting more inline with the rest of nonunion american companies. That means a smaller share for Teamster members. Teamsters members are under paid and yes I am talking about feeder & package car drivers. The 22.3 & especially part timers are vastly underpaid. The problem though is that the average american worker is even worse off. This is due to many factors one of them being is the loss of union density, another the lack of class consciousness of the american worker. Workers in other western industrial countries have a higher standard of living, Germany for example. Union workers make $60 an hour.

    The biggest concerns I see is in pay is that of the part time worker. The minimum wage in some states has superceded the starting pay. There is a bill in the house to raise the minimum wage to $10 an hour. A $2 hour increase in the starting pay would not be unreasonable. Then of course everyone would get bumped up. An option for fulltimers might be to see some of that go into the pension instead of wages. Also we need the starting pay to go up each year.

    The problem with health care is the insurance companies. They are middle men that provide no useful service. They have 33% overhead. We need single payer health care, expanded medicare for all which only has a 3% overhead. Take insurance off the table & that can go into pension & increased wages.

    We need to organize fed x. That needs to be done whether we get them out of the railway act into the nlrb or not. It would be good for the workers at fed x, good for the Teamsters at ups, good for all Teamsters, and good for all american workers. That would be an example of how a rising tide raises all ships.
  13. Omega man

    Omega man Active Member

    I hope UPS makes ten billion this year acting ethically and treating employees properly. We all should look at how UPS is making their money. No company should be allowed to make excessive profits by disregarding their contractual agreements, violating the law or treating employees badly.
  14. Casca

    Casca Member

    ....The actual wage is around $18 an hour for beginning part-timers up to $34 an hour for long term part-timers... These figures are total compensation....the actual pocket amount varies depending on how much the individual unions take out...Its pretty pathetic when one believes that UPS pays minimum wage or thereabouts.
  15. moreluck

    moreluck golden ticket member

    "Fair share" is a very misunderstood term. When it comes to the unions of the world, it's very one sided.

    You scream FAIR, but would balk at paying a small portion of your health care costs like everybody else does!!

    "Lion's Share" might be a better, more accurate term for the unions to use. Yell all you want, but that' my opinion..
  16. beentheredonethat

    beentheredonethat Well-Known Member

    If the company invests millions of dollars in physical plant equipment (UNL-18's) for example and the production in the unload goes up. Should the unloaders make more money? When UPS spent billions of dollars on worldport and invested in automation to improve efficiency and production, does that mean that the worldport employees should now make more money because they are more efficient? When UPS invested in new aircraft that reduced the overall fuel consumption and needed only 2 crewmembers instead of 3. Should the remaining pilots pay have gone up?
    My point is some production increases is from our people working harder\smarter. Some production increases is due to investment in technology and hardware. Not all productivity gains is directly attributable to sacrifices by the employee.
  17. beentheredonethat

    beentheredonethat Well-Known Member

    As Casca noted, PT wages cost UPS much more then the $10 per hour. I don't know how it is in the entire country, but in my area (New England) UPS puts money into the Teamster Pension and the Teamster H&W fund for these parttimers. That dollar amount is very large. (Not sure offhand, but i'd venture it's at least 8-10 per hour between the two). The vast majority of the pension money never goes to these kids since most don't vest with the union. Yet even with all that money the New England pension fund is hurting. You folks should be :censored2: with how the pension fund is being mismanaged. I'm sure if you gave the PT hourlies a choice a large percentage of them would say, no Pension and no HW (since they are covered under Mom and Dad's plan still) and put it in their paycheck. The teamsters would have nothing to do with that. Since they get to keep that money.

    Why not at least offer it to them?
  18. beentheredonethat

    beentheredonethat Well-Known Member

    The teamsters have been talking about organizing Fed x for decades now. 20+ years ago I recall hearing when I was a driver that it was just around the corner. I do agree, it would be good for FDX employees and for UPS teamsters short term. But long term, I don't know. I think of it how the Big 3 were the only game in town and the UAW got huge contracts for their members. However, in the long run it didn't turn out well for them. Other competitors came and beat them in due to partially the high legacy costs and also the poor quality of the cars. I'm afraid the same thing may happen if the Teamsters control the package industry like the UAW controlled the auto industry.
  19. curiousbrain

    curiousbrain Well-Known Member

    Have you met modern capitalism?
  20. Monkey Butt

    Monkey Butt Dark Prince of Double Standards Staff Member

    Ever heard of the Medici's and Machiavelli?