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When Did the Decline Start?
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<blockquote data-quote="scratch" data-source="post: 4748699" data-attributes="member: 1674"><p>I think the decline started happening after the '97 Strike. FedEx bought Roadway Package Systems and got into the ground business then. UPS lost a lot of business and never got it back. FedEx went after our big commercial accounts first. Company stock was and still is held mostly by management and trust funds, a lot of them were mad about losing money. My Center Manager was pure evil when we came back to work. Things changed. The "Big Idea" employee magazine was canceled, I'm not sure exactly when the turkeys went away. UPS offered the Teamsters $500M to get 70,000 members out of Central States Pension Fund, which costs the company $6B a few years later. UPS had been very profitable before and paid cash for expansion, the stock going public in 1999 was to raise more capital. I did buy stock for $25 a share when the Thrift Plan went away, I still hold that in an IRA. The 1982 National Master didn't help things either, part-timers were stuck at $8-8.50 an hour for a long time. The quality of the workforce dropped from what I saw and experienced. Eventually, that put a big strain on overall operations too.</p></blockquote><p></p>
[QUOTE="scratch, post: 4748699, member: 1674"] I think the decline started happening after the '97 Strike. FedEx bought Roadway Package Systems and got into the ground business then. UPS lost a lot of business and never got it back. FedEx went after our big commercial accounts first. Company stock was and still is held mostly by management and trust funds, a lot of them were mad about losing money. My Center Manager was pure evil when we came back to work. Things changed. The "Big Idea" employee magazine was canceled, I'm not sure exactly when the turkeys went away. UPS offered the Teamsters $500M to get 70,000 members out of Central States Pension Fund, which costs the company $6B a few years later. UPS had been very profitable before and paid cash for expansion, the stock going public in 1999 was to raise more capital. I did buy stock for $25 a share when the Thrift Plan went away, I still hold that in an IRA. The 1982 National Master didn't help things either, part-timers were stuck at $8-8.50 an hour for a long time. The quality of the workforce dropped from what I saw and experienced. Eventually, that put a big strain on overall operations too. [/QUOTE]
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