What happened during the 2008 Financial Crisis?

Discussion in 'UPS Discussions' started by take your time, Sep 3, 2019.

  1. Everyone is screaming "Recession" on the news. The trucking industry is contracting big league. We hired a lot of new guys off the street who came from the Semi-Trucking companies who were bankrupt/laid off.

    So, what happened back in 2008-2009 at UPS? Did drivers get laid off? How many drivers were cut and sent home?

    I'm just curious to know what will happen at UPS this time around, since it looks like it's going to be a huge recession, possible depression......
  2. rod

    rod #1 on Upstates "list"

    First of all don't believe everything you hear.
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  3. 542thruNthru

    542thruNthru Well-Known Member

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  4. Richard Harrow

    Richard Harrow Deplorable.

    Our center seniority list reflects what happened to this day.

    There's something like 8 or 9 drivers whose seniority date year is 2008. The next driver after them is 2011.

    We went 3 years without hiring anyone in my center.
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  5. Overpaid Union Thug

    Overpaid Union Thug Well-Known Member

    Its a repeat of 2007/2008. The ”media” will start ramping up their claims of a recession when we get a little closer to election time. If it plays out that way then UPS will take the opportunity to cut routes and manning even more than they already do now. And the PCMs will include pleas for sales leads. My area wasn’t affected by the recession but UPS cut routes anyway.

    There are signs (yield curves and whatever) that usually indicate if a recession is coming but in reality they only become a problem if enough people stop spending and employers stop hiring. The “news” networks are more than willing to inflame a tiny problem into a huge one for political gain.
  6. Same here. It was more like 5 years here before they hired anyone full time.
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  7. Maple Grove MN Driver

    Maple Grove MN Driver Cocaine Mang!

    I bought a lot of foreclosed properties.
    Nobody could buy a home.
    People needed to rent.
    It really jumpstarted my rental property empire.
    I am hoping for another recession to bring property values down.
    I am positioned to capitalize on the misfortune of others.
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  8. BiggieBrown

    BiggieBrown Active Member

    Can't wait.
    Recessions are so comfy as a millennial.
  9. rod

    rod #1 on Upstates "list"

    The news media does more damage than any political party ever has. It's the news media and their approach to reporting that basically determines who gets elected. It's all for "ratings" and not for accuracy. Like this hurricane stuff going on now. Yes its bad but not 24/7 bad for the last week. Same crap -over and over. Now by the time it actually starts doing some damage to the east coast (maybe tonight)--no one cares.
  10. Overpaid Union Thug

    Overpaid Union Thug Well-Known Member

    I was an avid listener of David Ramsey back when the last recession was being spun up by the media. Every day on his show he’d remind everyone that we weren’t in a recession yet but would be if the media convinced enough people one was coming, or already started, to stop spending discretionary income. They started claiming a recession was coming as early as five months before the conditions were even close to satisfying the definition. And the general public bought it.

    I don’t know who is more dangerous. The “media” or those that are gullible enough to believe them.
  11. Brownslave688

    Brownslave688 You want a toe? I can get you a toe.

  12. It was tight and management even hated us worse back then. They list their 401k match plus they didn't get any raises. But yet we still got our raises.
  13. Brownslave688

    Brownslave688 You want a toe? I can get you a toe.

    I was actually laid off more in 10-11 than 08-09 but it was a little different then.

    Now we don’t order toilet paper to save money. Could you imagine a full scale recession?
  14. We haven't had DIAD wipes all year.
  15. Old Man Jingles

    Old Man Jingles Rat out of a cage

    We already knew this ... at least you are honest about it.
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  16. olroadbeech

    olroadbeech Happy Verified UPSer

    What I learned from 2008 was what caused it was NOT fixed. Maybe a temp. band aid. The powers that be WANT this stuff to happen because if you study history they are the ones that BUY when everyone else is panicking .

    Why do you think the riff between the haves and the have nots keeps widening? The last major downturn i was BUYING BUYING BUYING and we made a small fortune in stocks, real estate deals and other hard goods.

    CASH is king in a recession . always be prepared by SAVING cash in good times.

    as far as what everyone is saying about the media , it's true. The media does not care about you or anything else. all they care about is ratings and advertising revenue.

    The people in this country are a bunch of sheep. easily led.
  17. Jkloc420

    Jkloc420 Well-Known Member

    Real estate is not good if the location is bad
  18. Faceplanted

    Faceplanted Well-Known Member

    I drove every day as a tcd for 3 or so years. Got sent back to the hub when the recession hit in full force. Had to “do what I had to do” to pay the bills for 1.5 years.

    A couple full time drivers actually got sent back to the hub. After a certain amount of weeks their pay went down to the same rate as a 22.3 which was a huge pay cut for them.

    The media is trying everything they can do to get this “recession” going. Bond yields and other indicators are showing a possible recession, but you have to understand we are manipulating things to keep up with this currency war going on, so those indicators are not a true indication of what’s going on.
  19. detmaintainer

    detmaintainer Detroit Maintenance Rat

  20. detmaintainer

    detmaintainer Detroit Maintenance Rat

    In Metro Detroit they shut down 2 Full-time prelosd buildings. They had a meeting for employees of both centers when rumors started going around about closing those buildings. The Union and Company stood there and lied to our faces that they had no plans to close those buildings. Later I heard from management and union people that the plan was already in place when they lied to us.