UPS to invest in new buildings, new trucks ... Hire more drivers???

Discussion in 'UPS Discussions' started by Monkey Butt, Feb 1, 2018.

  1. Catatonic

    Catatonic Nine Lives

    UPS (NYSE:UPS) today announced it has ordered 14 Boeing 747-8 cargo jets and four new Boeing 767 aircraft to provide additional capacity in response to accelerating demand for the company’s air services. All of the new aircraft will be added to the existing fleet and no existing aircraft are being replaced.

    The aircraft will be delivered on an expedited schedule, building on the company’s 2016 order of 14 Boeing 747-8 freighters. All 32 of the jets will be delivered by the end of 2022, adding more than 9 million pounds of cargo capacity. UPS’s global airline network includes more than 500 owned and leased aircraft. UPS received three new 747-8 freighters in 2017.
    UPS announced February 1, 2018 more than $12 billion in investments to expand the company’s Smart Logistics Network, significantly increase pension funding, and position the company to further enhance shareowner value.

    “This $12 billion investment program is an outgrowth of the opportunity for tax savings created by the Tax and Jobs Act,” said David Abney, UPS Chairman and Chief Executive Officer. “We will increase network investments and accelerate pension funding to strengthen the company for the long term, so that we maximize the benefit to our global customers, employees and shareowners.”

    “Through our current and future actions, we will enhance UPS’s position as the leading logistics provider by expanding capacity and technology investments to help customers meet their needs for dependable, day- and time-definite service with enhanced visibility and flexibility,” Abney said.

    The company plans to raise future capital spending above its previously committed six-to-seven percent of annual revenue. UPS will invest an additional $7 billion over three years for the construction and renovation of facilities, to acquire new aircraft and ground fleet vehicles, and to enhance the information technology platforms required to support the network, manage the business and power new customer solutions.

    “We applaud President Trump and Congress for their bold action to improve the U.S. economy,” Abney continued. “Our investments will create new jobs, secure existing jobs and expand opportunities for our people. We are committed to remaining a preferred employer by continuing to provide industry-leading compensation and excellent career opportunities.”

    UPS also recently made a $5 billion tax-qualified contribution to the company’s three UPS-sponsored U.S. pension plans. This represents about $13,000 per participant. The voluntary contribution raised the funding level to above 90-percent, securing retirement benefits on behalf of union-represented and union-free employees eligible for UPS-funded pensions.

    “Tax reform is a tremendous catalyst,” said Abney. “We will continue to evaluate additional actions that benefit customers, employees and shareowners as we progress further in the year.”
     
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    Last edited: Feb 1, 2018
  2. 1000RR

    1000RR Member

    Id rather just be handed a check for $13,000. I can manage my own retirement
     
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  3. Turdferguson

    Turdferguson Just a turd

    WTF???
    He says that like it's a disease or something
     
  4. Catatonic

    Catatonic Nine Lives

    If true, one of the few.
     
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  5. Jkloc420

    Jkloc420 Well-Known Member

    i got a raise today
     
  6. Catatonic

    Catatonic Nine Lives

    What was his name?
     
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  7. JL 0513

    JL 0513 Well-Known Member

    Me too, what a coincidence.
     
  8. Jkloc420

    Jkloc420 Well-Known Member

    they like you, keep up the good work
     
  9. JL 0513

    JL 0513 Well-Known Member

    The left told me tax reform wouldn't do anything for the economy though. Abney must be lying.
     
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  10. over10.5

    over10.5 Member

    So was the $5 billion contribution above what’s contractually obligated?
     
  11. over10.5

    over10.5 Member

    Where’s our $4000 raise like trump promised?
     
  12. Catatonic

    Catatonic Nine Lives

    The rich did not get them !
     
  13. Covemastah

    Covemastah And the Reign Of Terror Continues!! Pats # 6 !!!

    I just want free socks and my turkey back , I don’t mind a tractor with ductape and zip ties holding the dashboard together or the 952000 miles on it , just the turkey and socks !
     
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  14. Coldworld

    Coldworld Bad mall cop...no donut!!!

    I’ll manage @Gumbys money for him....
     
  15. Coldworld

    Coldworld Bad mall cop...no donut!!!

    I doubt any of us drivers will even see a tax break...gotta pay for the rich and multinational corporations to get even more...
     
  16. fedx

    fedx Extra Large Package

    The biggest contributors to the Democrat Party are the super rich like Warren Buffet, Jeff Bezos, Hollywood, and multinational corporations. Funny how the Dems claim they hate the rich and corporations yet corporations are their biggest contributors. It's all smoke and mirrors.
     
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  17. Heavy Package

    Heavy Package Well-Known Member

    What I will be doing with my $0.50 cent raise and tax reform!

    [​IMG]
     
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  18. Indecisi0n

    Indecisi0n Well-Known Member

    Does this mean no more daily late air?
     
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  19. Big Arrow Down...D

    Big Arrow Down...D Leave the gun,take the cannoli

    We have package cars older than half the pre-load...
     
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  20. Wally

    Wally BrownCafe Innovator & King of Puns

    Tremendous cut and paste!...Well done!

    [​IMG]
     
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