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[retired]

UPS Awards Pratt & Whitney a Ten-Year Maintenance Agreement
HARTFORD, Conn., Aug. 7 /PRNewswire/ -- United Parcel Service (UPS) has signed a ten-year agreement with Pratt & Whitney Engine Services to provide maintenance for all of the JT9D-7A engines that power the company's fleet of 12 Boeing 747-100F freighter aircraft. The agreement has an estimated value of $410 million.

``Efficiency and reliability are critical for a company like UPS that is focused on on-time delivery,'' said James Robinson, president of aftermarket services for Pratt & Whitney. ``Our ability to meet the high standards set by UPS for engine maintenance demonstrates that Pratt & Whitney can create beneficial partnerships with long-term agreements such as this one. We are very excited to partner with UPS on the maintenance of these engines.''

UPS is the world's largest express carrier and package delivery company, serving more than 200 countries and territories around the globe. With a fleet of 261 jet aircraft in service or on order, UPS is the ninth largest airline in North America. UPS reported annual revenues of $27.1 billion in 1999 and delivered 3.28 billion parcels and documents last year. Headquartered in Atlanta, GA, the company is located on the Web at www.ups.com.

``Our customers expect and deserve nothing less than perfect service,'' said Bob Lekites, vice president of UPS airline operations. ``In order to make our service commitments, we depend on partners like Pratt & Whitney to keep the UPS air fleet running at optimum performance.''

The UPS agreement brings to nearly three-quarters of a billion dollars the amount of long-term JT9D maintenance work Engine Services has won in 2000. UPS also recently ordered 30 Airbus Industrie A300 freighters powered by the PW4000 engine.

Pratt & Whitney Engine Services, which has grown in recent years to a billion dollars in annual sales, offers complete engine overhauls at facilities in Connecticut, Georgia, Texas, Singapore, Norway and Saudi Arabia, and also provides repair services in over 20 locations throughout the world. In addition, it offers fleet, material and inventory management programs for both commercial and military customers.

Pratt & Whitney, a United Technologies Company, is a world leader in the design, manufacture and service of aircraft engines, space propulsion systems and industrial gas turbines.

 

[cheryl]

Here's a chart comparing the performance of UPS, FDX and the S&P

 

[tonyexpress]

Mr. Buffett on the Stock Market

The most celebrated of investors says stocks can't possibly meet the public's expectations. As for the Internet? He notes how few people got rich from two other transforming industries, auto and aviation.

 

[tonyexpress]

"Every investor should be prepared financially and psychologically for the possibility of short-term losses. For example, in the 1973-74 decline the investor would have lost money on paper, but if he'd held on and stuck with the approach, he would have recouped in 1975-1976 and gotten his 15 percent average return for the five year period."

Benjamin Graham

 

[legs]

We've got a place in Sedona where we go to unwind. It's a great place to spend a weekend.

I stay out of the tourist areas and try to stay where everything is laid back. Of all the vacations we've taken over the years it's still my favorite place to get away from it all and just relax.

 

[moreluck]

Just got back from Pebble Beach. A large group of us wanted to golf this "once in a lifetime" course. It's beautiful country in Monterey/Carmel, but very cool.
The wives found the shopping fun on Cannery Row and Gilbert's restaurant on Fisherman's wharf was quite good.
The wives greeted the guys as they putted in on the 18th. We clapped and the guys doffed their caps like the pros on TV.
The Lodge at Pebble had gorgeous rooms, but for the price, there's no coffee maker in the rooms. Be sure to bring your own if you need that "jolt" before going out first thing in the AM. Oh yeah, and a pack of cigs is $6.25 in their general store....bring your own.
Prior to arriving in Monterey, the group spent one night in Salinas....oh my! One carload stayed at Motel 6 and the other carload at Comfort Inn. Mind you now, I'm not a snob, but some basic items would've been nice. No clock in the room and when you called for a wake-up, no one answered at the front desk. We were truly alone, but they did leave a light on for us. The Motel 6 won the contest for the best looking abandoned car on the lot....an old Ford station wagon that looked like it had been there since the Nixon era. The Comfort Inn had one too, but not nearly as old.
Back to basics.....no kleenex in the room, green/black mold on the shower curtain...yuck!
I guess staying there made Pebble Beach look all that much better to us.

 

[moreluck]

Southern Women....
>Two delicate flowers of Southern womanhood were conversing on the
porch
> >swing of a large white pillared mansion. The first woman said, "When my
> >first child was born, my husband built this beautiful mansion for me."
> >The second woman commented, "Well, isn't that nice."
> >The first woman continued "When my second child was born my husband
> >bought me that fine Cadillac automobile you see parked in the drive."
> >Again, the second woman commented, "Well, isn't that nice."
> >The first woman boasted "Then, when my third child was born, my husband
> >bought me this exquisite diamond bracelet."
> >Yet again, the second woman commented, "Well, isn't that nice."
> >The first woman then asked her companion, "What did your husband buy for
> >you when you had your first child?"
> >The second woman replied "My husband sent me to charm school."
> >"Charm school!" the first woman cried, "Land sakes, child, what on earth
> >for?"
> >The second woman responded, "So that instead of saying, 'who gives a
> ><FONT COLOR="ff0000">••••</FONT>?', I learned to say, 'Well, isn't that nice'"

 

[moreluck]

Just back from a couple days in Palm Desert. It was August and it WASN'T over 100 degrees. Tee times for you golfers out there are readily available, fees are lower, hotel rates were cheaper. I guess we lucked out with only 90 degree highs. Nice too, no waiting at restaurants. We toured PGA West looking at new homes and the 6 courses in that community. They are really builing there!
Tried to get to Bob Hope's house, but the big burly guard did his job and turned us around. A sight to see is that Marriot Spa &amp; Resort. The lobby is beautiful with fountains and waterfalls everywhere. Black swans and flamingoes on the grounds. They offer a complimentary gondola ride to view the complex and it's gorgeous. Morton's Steakhouse is right there too....prime rib is excellent. Great 3-day getaway.

 

[grupsdude]

Here in Grand Rapids MI we received about 35 new FT combo jobs and every one of these employees are loading a truck either on the midnight or twilight sort, if you preload you load between 3 or 4 package cars. The other part of their job includes either porter, carwash, clerk, PSC, or airdriving.

Rumor has it most of the smaller centers in Michigan that did receive FT Combo jobs those employees are doing the same jobs they were doing before.

A good portion of those that took the Combo jobs here in GR MI are older UPSer's and it sure seems to me to be a real waste of sort and schedule knowledge to have them loading a truck. The majority of these employees filled a niche and had so much knowledge about their speciality area and most took that knowledge with them.

It seems to me that UPS lost the arbitration and said ok you want a full time job, we will give you one. UPS created a bunch of jobs which all include loading and UPS lost so much knowledge in many areas.

What happened in your neck of the woods?

 

[oscar]

The combo jobs in our area are all middle of the night preload and sorter jobs. I wanted to see some part time air driver jobs converted to full time. It looks like the driver jobs that a I hoped for are not going to happen.

 

[my2cents]

In our center there is a chronic labor shortage on the preload and night sort. In our case, I think the company was forced to call in some drivers to work the preload or pull them off the road early to work the night sort. Some drivers are working a part-time shift with a half day driving, while others are doing short term stretches of full days of driving and shift-work. There are also a few part-timers who are doing double duty on both shifts. As the traditional volume starts to build towards peak, it should be interesting how all this works out.

 

[grupsdude]

Same here MY2CENTS. We are short so many employees both part and full time, both management and union. I am more worried about this peak season more than any other.

Last year we had 9 CPU drivers this summer we had 5. UPS has failed to fill many vacated jobs. This summer when 2 CPU drivers were on vacation at once it left 3 CPU drivers and 1 supervisor to do the job of 9 men.

I have been working close to and over 60 hours from Memorial Day to Labor Day. I have averaged over 41 hours per week this year and I am still considered parttime. With peak season coming I would think my hours will only increase.

UPS has projected a 30% increase in eCommerce alone. Instead of 100 trucks you need 130 to make up for the increase. I found that in our area we have no plans to add additional trucks this year and we send out over 200 trucks per day.

Ever since UPS went public with the stock it seems they have forgot it was by the delivery of packages to how UPS got it's good name and reputation. Not by the delivery of large dividends and a high stock prices. It seems since we have gone public we have changed our measure of success to the latter.

More days this year I come in at 5pm or 8pm and still see packages on the belt stacked up and no attempt has been made to deliver them. This peak season should prove interesting to say the very least.

 

[vic]

The BOD has been very quiet lately. No big partnerships or purchases or news worth mentioning. There could be a reason for this. If the BOD takes this opportunity to purchase UPS shares on the open market then they would get a good bargain.

Just a thought

 

[hr]

I'm still very optimistic about the stock price over the long haul. The UPSers that are new to the market and are not used to it's normal fluctuations or have "retired" on their new found wealth after the IPO are panicking and spreading their paranoia around all the boards because they believe that they are actually in danger of losing their IPO windfall.
It is very counter productive to post insider negativity from a short sighted fear based point of view. BOD bashing and lashing out at UPS and it's lack of PR is the screeching of the powerless and only serves to create less confidence in the minds of prospective investors.
This is the big leagues kiddies, you have to expect price fluctuations and not bail out at the first hint of trouble. The past few months have really been a test of the individual UPS employee's level of sophistication. Unfortunately the ones that have been the most vocal on the other boards are also the most frightened.

 

[moreluck]

HR: I don't equate speculation and tossing around opinions of why the stock might be down, with fear. I think people need to remember that you haven't lost anything, or gained anything....until you sell. We are one of those "retirees with new found wealth" and are very used to the market fluctuations. I will admit that we probably watch the activity on the market a little too closely, but are not panicked about anything. It's all 'long term' for us and with UPS we're holding the stock of a solid company, with a good reputation and good earnings and a good history. Same as the CISCO and the SUNW and the RMBS. Good luck to everyone!

 

[my2cents]

As a "new" share-owner, I think the volatility in UPS shares is pretty tame. The price has been gyrating sideways all year and day-to-day fluctuations are meaningless. As a long-term holder, I may glance at the stock price once every two weeks, if even that. In my opinion, the company is making the right decisions to move the company forward. The only real negative I see is the high price of crude oil, and I think the current price reflects that. Like it or not, the share price will always be linked to the price of crude oil.

 

[browntruth]

I am hearing that the ERI is reflecting many downward trends from all of the troops, Hourly, Part time and even in to the upper full time ranks.

 

[grupsdude]

Hmm, imagine that, I too had nothing good to report on this ERI. It is about time we turn up the heat on BIG BROWN.

With all the payroll shortages and all the staffing shortages I would doubt UPS would get a report that would be good news.

With no new trucks and volume already past last years peak I am certain this peak will be one to remember and I am sure it will go down in the record books as one record peak.

 

[nuzog]

Before the 97 strike we used to have the remote delivery initiative in our center. For those who may not have heard about rdi; this was our criteria in my old center: if a residential delivery was two miles or more from the main road or paved road the driver only delivered to that stop once or twice a week. The theory was to get as many packages in and around that particular house so that time is not wasted going to just one house. something like that. We ended up getting so many complaints from our customers. They called in saying that they requested UPS shipping because they could always count on us being there on time. After a few months of this, the center suspended the remote deliveries, we were again delivering everyday.
The other day I heard that a district in Southern California started enforcing the remote deliveries again. This time its not just residential deliveries, but also business deliveries based at home. Another issue that I heard about at this same center was nine five rule. Any driver that goes over nine five are being issued warning letters. The packages that are left after nine five aren't being delivered until the next day.
I just want to know where the company is going with this. I don't think this is a good practice to adopt, we are not doing what we have done in the past to build up this company. Most of our loyal customers come to us for the services we have provided over the years, delivering their packages anywhere, everyday.Hopefully this is just an isolated case, and it is not a company wide practice,'cause
USPS-FEDEX are just around the corner.

 

[retired]

UPS may be going to buy a position in TNT at the IPO. Deutsche Post is delaying their IPO until November 20. They announced that on the same day that they will increase their stake in DHL International to 51 from 25 percent.