"Wall Street celebrates Teamsters deal with UPS"

Discussion in 'UPS Discussions' started by Box Ox, Jul 17, 2018.

  1. Box Ox

    Box Ox Well-Known Member

    Thanks to @Kayla C for posting her article over in the UPS Union Issues forum. Don't let anybody from the Company or Union come here under multiple usernames / fake personas and convince you that the proposed Contract is a good deal for UPS hourlies. It's not. And it's clear to UPS corporate and Wall Street. Don't be fooled by propagandists actively working against your interests. Vote no.

    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."

    UPS executives have also expressed excitement with the deal. “We are confident in our ability to resolve remaining issues, building on the progress we have achieved with current tentative national and local agreements,” stated UPS spokesman Glenn Zaccara. “UPS’s objective is to reward our employees for their contribution to our success, provide flexibility to keep our company strong, and meet the needs of our customers and other stakeholders.”

    Echoing these comments, the co-chairman of the Teamsters UPS National Negotiating Committee Denis T said workers “will see that this agreement is among the very best ever negotiated.” In fact, as the praise from Wall Street investors and corporate executive show, the deal is only “the very best” for the company, along with the union apparatus."
    • Agree Agree x 2
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  2. specter208

    specter208 Active Member

    Shares gonna come back down when this contract goes back to where it came from.
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  3. Box Ox

    Box Ox Well-Known Member

    Hope so.
  4. Knothead

    Knothead Yep.

    My question is, why is the Union trying to sell this contract so hard? I have received multiple pieces of mail from the Union trying to sell me and persuade me on this S*show of an agreement, more than ever before. Something stinks because everyone knows this agreement is BS for everybody except UPS.
  5. rickyb

    rickyb Well-Known Member

    great website.

    they got hit by google censorship of fake news
  6. Box Ox

    Box Ox Well-Known Member

    I must have missed that when I Googled it just now. If anything in the article is incorrect, please let us know.
  7. rickyb

    rickyb Well-Known Member

    i wouldnt know

    Rank-and-file workers must take the conduct of this struggle out of the hands of the Teamsters by electing workplace committees to conduct a real fight against the giant corporations and the Wall Street banks that stand behind them. These committees, which must be completely independent of all factions of the union, should mount a campaign for the defeat of this sellout and prepare for a national strike. The committees should formulate their own demands, including a 30 percent across-the-board raise, the roll over of all part-timers to full-time positions and the elimination of all tiers of wages and benefits.

    Rank-and-file committees must immediately reach out to all logistic workers, including at Amazon, FedEx and the US Postal Service to mount a common fight against low-wages, speed ups and unsafe conditions and for workers’ control of production. Such a struggle must be the beginning of a powerful movement of the working class to fight the economic dictatorship of the banks and giant corporations."
  8. The Driver

    The Driver I drive.

    Increased fulltime union dues?