BrownFlush
Well-Known Member
Another level far, far, far away.I am pretty sure some people knew before it went public...
UPS Stock split 1998 documentation
- Thread starter brown7816
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Re-Raise
Well-Known Member
I remember that you had to buy it in block of 1 UPS share + 3 shares of OPL. They bought out all of my OPL shares when they found it was a cover to avoid paying taxes on the pkg insurance profits.
I bought 10k a year in the two years it was open to drivers, before they froze purchases and announced the IPO.
Wasn’t there a limit per year for an individual to purchase?
I was a supervisor at the time.....I and many people browned-out using hypos..I bought a whole lot of stock...that was the time of ipos and figured it was only a matter of time before public.
..the teamsters recommended to their members not to buy stock or be a member of the thrift plan...bad advice.........some teamsters asked me what I was going to do and I said I was buying as much as possible.......some did likewise and are very very happy....the pensions are a pittance compared to ups stock.....pocket money ....much like social security.....I have no regrets on my decision......its usually best to not follow teamster advice.................and that o.p.l was very lucrative
..the teamsters recommended to their members not to buy stock or be a member of the thrift plan...bad advice.........some teamsters asked me what I was going to do and I said I was buying as much as possible.......some did likewise and are very very happy....the pensions are a pittance compared to ups stock.....pocket money ....much like social security.....I have no regrets on my decision......its usually best to not follow teamster advice.................and that o.p.l was very lucrative
But when they offered it to us you had to buy and blocks of 50? Maybe?
I can't remember the exact amount but that was more cash than I could afford to spare the time but I did buy some of my thrift plan.
Re-Raise
Well-Known Member
When I bought, I think a block was $43 for the UPS and OPL combo. There were only two hourlies in my center that bought in the couple of years that it was open to us.
That was when the company was toying with the idea of making us “self directed” work groups Lol
They wanted us to feel like co-owners I guess
I bought the max you could through the DESP plan while they were giving the 10% discount after that also.
Unfortunately I didn't have a lot of money to buy it at the time but I did buy some. In a little bit I had did me well
Re-Raise
Well-Known Member
The DESP plan was great because they sold the shares to you at a 10% discount of the lowest price either at the beginning of the quarter or the end of the quarter that you were buying in.
For example..if the price was $50 on January 1, and rose to $60 on March 31, your purchase price was $45 on March 31!
They did away with that plan after a while! Lol
It wasn't much but I was grateful for the Monday I made off of it.
It helped my family out at the time
burrheadd
KING Of GIFS
This was later proven in court to be untrue
After the first man was abolished
Re-Raise
Well-Known Member
Perhaps
All I know is they paid me for my shares and OPL ceased to exist
I thought they were fined?
Re-Raise
Well-Known Member
UPS settles Overseas Partners class action - Business Insurance
NEW YORK--United Parcel Service Inc. has agreed to provide vouchers to its customers to settle a consolidated class action lawsuit that alleged UPS overcharged shippers for excess-value package insurance written by a Bermuda-based company owned by UPS employee-shareholders.
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