Wall Street celebrates Teamsters deal with UPS

Kayla C

New Member
Wall Street celebrates Teamsters deal with UPS

Corporate executives and investors are lauding the proposed contract signed by the Teamsters union for nearly a quarter of a million workers at United Parcel Service (UPS) for its potential to cut labor costs and boost profit margins even higher.

UPS share values, which had been sliding downwards since mid-June, reversed course after the Teamsters released the details of the sellout early last week. The stock had trended downwards due to investor fears of a potential strike when the contract expires on July 31. Wall Street is pinning its hopes on the Teamsters union, which has extended the contract indefinitely, to wear down rank-and-file opposition and ram the deal through.

David Vernon, the Senior Analyst at Bernstein Global Wealth Management, encouraged private investment in UPS upon the release of the contract, saying its replacement of up to 25 percent of full-time drivers with hybrid drivers was “better than he hoped.” He explained, “Added flexibility in the UPS cost structure from hybrid drivers should increase the flexibility with which UPS is able to accommodate future growth from e-commerce and lower the effective rate of wage growth at the margin."

This is such a damning exposure of who the Teamsters are really working for -- not the workers, but UPS and corporate-financial establishment. What do you think? The WSWS will continue to be the voice of UPS workers in this struggle, so please share your comments and circulate this article widely!
 

bacha29

Well-Known Member
If it takes a left leaning publication to finally get the truth out....so be it. No forward thinking Teamster can in good conscience vote for a contract that so obviously forsakes and minimizes the daily contribution of the man on the line and the man in the cab. No strike is a pleasant experience but a strike this time would offer a source of amusement as the Teamster rank and file watch the IBT salaried but UPS owned national officials choke on their own vomit when the results come back...no deal.
 

Old Man Jingles

Rat out of a cage
If it takes a left leaning publication to finally get the truth out....so be it. No forward thinking Teamster can in good conscience vote for a contract that so obviously forsakes and minimizes the daily contribution of the man on the line and the man in the cab. No strike is a pleasant experience but a strike this time would offer a source of amusement as the Teamster rank and file watch the IBT salaried but UPS owned national officials choke on their own vomit when the results come back...no deal.
@bbsam!
Can’t you keep this goofball corralled in the FedEx forum?
 

Old Man Jingles

Rat out of a cage
Wall Street celebrates Teamsters deal with UPS

Corporate executives and investors are lauding the proposed contract signed by the Teamsters union for nearly a quarter of a million workers at United Parcel Service (UPS) for its potential to cut labor costs and boost profit margins even higher.

UPS share values, which had been sliding downwards since mid-June, reversed course after the Teamsters released the details of the sellout early last week. The stock had trended downwards due to investor fears of a potential strike when the contract expires on July 31. Wall Street is pinning its hopes on the Teamsters union, which has extended the contract indefinitely, to wear down rank-and-file opposition and ram the deal through.

David Vernon, the Senior Analyst at Bernstein Global Wealth Management, encouraged private investment in UPS upon the release of the contract, saying its replacement of up to 25 percent of full-time drivers with hybrid drivers was “better than he hoped.” He explained, “Added flexibility in the UPS cost structure from hybrid drivers should increase the flexibility with which UPS is able to accommodate future growth from e-commerce and lower the effective rate of wage growth at the margin."

This is such a damning exposure of who the Teamsters are really working for -- not the workers, but UPS and corporate-financial establishment. What do you think? The WSWS will continue to be the voice of UPS workers in this struggle, so please share your comments and circulate this article widely!
Poor attempt at humor! LOL
 

Box Ox

Well-Known Member
This is such a damning exposure of who the Teamsters are really working for -- not the workers, but UPS and corporate-financial establishment. What do you think?

I think JH must have said "Yes daddy, I love it!" to everything the Company demanded. And he actually posed for blackmail photos in his gimp outfit, complete with gag ball and whip.
 

542thruNthru

Well-Known Member
@bbsam!
Can’t you keep this goofball corralled in the FedEx forum?

kettlecalling.gif
 

Dollar Chasing

Well-Known Member

Because they aren’t replacing the drivers, they’re adding 22.4s. If a building has 40 drivers, they’re aren’t going to go down to 30 RPCDs and 10 22.4s. They’re going to add 10 22.4s. Just an example using easy numbers. If we don’t want to look like dumbasses when we’re negotiating, it helps to not make false statements, because it makes it look like we don’t know what we’re talking about, which hurts our bargaining position.
 

MyTripisCut

“They” are coming for us.
Because they aren’t replacing the drivers, they’re adding 22.4s. If a building has 40 drivers, they’re aren’t going to go down to 30 RPCDs and 10 22.4s. They’re going to add 10 22.4s. Just an example using easy numbers. If we don’t want to look like dumbasses when we’re negotiating, it helps to not make false statements, because it makes it look like we don’t know what we’re talking about, which hurts our bargaining position.
Do you actually believe that? I don’t. And the way it’s worded, “when work is available” for Rpcds means the cheaper labor will be doing the work. So maybe in theory you’re right, but I would bet in application, rpcds would essentially be replaced. It also allows for a higher percentage adjusted by UPS labor manager. So it could go higher.
 

Dollar Chasing

Well-Known Member
Do you actually believe that? I don’t. And the way it’s worded, “when work is available” for Rpcds means the cheaper labor will be doing the work. So maybe in theory you’re right, but I would bet in application, rpcds would essentially be replaced. It also allows for a higher percentage adjusted by UPS labor manager. So it could go higher.

See this is all speculation. It could happen, yes, but the article that OP posted said they would be replaced, which is not true. Again, if we start saying made up stuff in news articles, we look uneducated about the contract.
 

Dollar Chasing

Well-Known Member
No

It's correct because the 25 % 22.4 jobs would have been normal package car drivers they know they need more drivers but don't want to pay
Yeah, you see, the contract states that they can’t exceed 25% of the RPCDs in a center. We have about 50 drivers in ours, and I can guarantee you we don’t have room, packages, cars, or even regular Saturday delivery, much less Sunday, to make 12 22.4s happen. Overall, there’s no way the company is going to make enough 22.4s to get anywhere close to 25% of the current workforce. Inflating numbers just to make a point isn’t helping you or anyone else but the company, who you’re helping make us look pretty dumb.
 
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