I don't doubt that there may be a "few" Teamsters who have over $2,000,000 worth of UPS stock but "MANY" --no way. I don't regret selling my 2,000 shares. I bought it for $26 and sold it for a little over $80 just after it had fallen to like $45 a share.There are many teamsters who have over 2 million dollars in ups stock ...much by converting their thrift plan into stock.....its not all doom and gloom.......besides one doest get rich by not investing.
Our DM was not seen or heard from until the new year in 2000.I overheard a manager bragging on the phone just after it went public.. he didn’t say he just became millionaire it was a multi millionaire.
OPL went straight to zero, UPS got into trouble with the government and shut down OPL, it was a subsidiary of UPS to insure packages. You could only buy UPS stock in blocks of 4 and it came with 1 share of OPL. OPL was a huge moneymaker until it was shut down and became worthless.In 1996, the Thrift Plan was disbanded. We had to convert it to UPS and OPL stock. Employees were then allowed to purchase the stock. It was $26.25 per share. In 1999, when they went public, it split 2 for 1 and opened at $51 per share.
We had a driver who bought nothing but OPL stock-----------------lost his ass.OPL went straight to zero, UPS got into trouble with the government and shut down OPL, it was a subsidiary of UPS to insure packages. You could only buy UPS stock in blocks of 4 and it came with 1 share of OPL. OPL was a huge moneymaker until it was shut down and became worthless.
I got my UPS stock at $25 a share when the Thrift Plan ended. My Thrift Plan money was turned into UPS A stock and the rest went into mutual funds. I'm looking at buying some Google or Amazon stock now, they are going to split 20:1 in a few months.I believe the THRIFT money rolled over @ $18.00 per share. I had about $5500.00 that rolled over.