M
md11
Guest
Have you asked your center manager for details about the program? He/she seems like the best person to ask. He/she will be able to tell you which accounts on your route are preferred.
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A
aifam
Guest
Plungers on the back of trailers are not a DOT item. Therefore, UPS is making us pull the loads when the plungers are not working. No more brake-downs. I have been in feeders 23 years. It used to be drilled into us to always make sure the plunger is out and working. When coming off meal walk back and visually check the plunger. Now, all of a sudden it's not important. Is this going on all over, or just here in the mid-west. The newer trailers have stickers above the pindle-hooks, from the manufacturer stating the snubbers must be activated. These decals are being stripped off the trailers.
M
my2cents
Guest
TEAMSTERS LOCAL UNION NO. 61 v. UNITED PARCEL SERV. (12/07/01 - No. 00-7239)
Where union members of arbitration committee intentionally walked out of arbitration to prevent a quorum at a termination hearing, neutral arbitrator may presume their votes are against termination and break the deadlock.
Where union members of arbitration committee intentionally walked out of arbitration to prevent a quorum at a termination hearing, neutral arbitrator may presume their votes are against termination and break the deadlock.
O
oldbrownbull
Guest
Strategies, planning, production nothing has helped this peak more than the WEATHER and road conditions. Loads on time, deliveries at dang near a summer pace. You guys don't realize your pumpin a little MORE than last peak. GREAT JOB!
U
upsdude
Guest
Yes, and things could be better if the pin heads in IE and other high level management would let the center teams run the business. It just amazes me that my sup and his manager are responsible for every little detail in the center, they just aren't trusted to determine how many routes to send out. If you don't trust them, then take away the keys!
M
my2cents
Guest
I agree oldbrownbull. Our center experienced very heavy volume all this past week. Typically, it tapers off some after peak day but it was solid volume all week long. Towards the end of peak, you usually see more air packages, but it was still more ground packages than usual. I expect another heavy day on Christmas Eve, with little drop-off in volume.
O
oldbrownbull
Guest
Kowabunga! Air up d Wazoo this mornin. Lots mixed in for Monday though. Dry clear roads help.
M
my2cents
Guest
Thanks for the tip. I'm sure this wisdom will be the main message of PCMs tomorrow morning, with this final effort to flush out the system. The weather here in the northeast has been cooperative too, with no major storms taking place.
U
upsadvisor
Guest
Updated LIBOR Lending Rates as of 12/31/2001
3 Month 1.89
6 Month 1.99
1 Year 2.44
Plus spread 1.25 - .75 ( depending on loan amt )
3 Month 1.89
6 Month 1.99
1 Year 2.44
Plus spread 1.25 - .75 ( depending on loan amt )
O
oldbrownbull
Guest
A safe, sane, super 02, too, to you all. Complaint department is closed until January 2nd, 2002. Get those resumes out ASAP.
U
upsdude
Guest
You too "obb", gonna be a long time till the next 3 day weekend!
P
proups
Guest
Happy New Year to all. Glad to see the complaint department closed. I am a new contributor to this site and I don't like some of the things I see people posting about the company that has been so good to me and my family for 23 years. We (UPSers) have a lot to be thankful for.
P
proups
Guest
I said I wanted the snow to hold off until Christmas Eve. Man, you guys in Buffalo really got slammed. Otherwise, a great peak thanks to the weather.
T
tieguy
Guest
How would a possible labor situation next year affect the hypo. Would the loan be called if the price of the stock dropped a certain percentage?
T
tieguy
Guest
Cheryl thanks for allowing advisor to continue posting his info here. It has been very helpfull.
Advisor can you estimate some loan intiation fees , quarterly interest only payments on a 100 k hypo(100 K borrowed) at current rates?
Advisor can you estimate some loan intiation fees , quarterly interest only payments on a 100 k hypo(100 K borrowed) at current rates?
M
my2cents
Guest
Watching the UPS stock price over the next several months should be interesting. This will be the first national master contract negotiated since the IPO. As negotiations begin in the near future, how much extra volatility will there be in the stock price? Hmmm.
U
upsadvisor
Guest
Tieguy,
If UPS were to have a protracted contract dispute the stock would come under pressure but that would not automatically cause a loan to be called.
Most loan to value rates are 50% which means on a loan of $100,000 you would have to pledge $200,000 in stock as collateral.
At of todays price of $57 on a loan of $100,000 the stock would have to decline to below $30.00 a share.
Given the way the stock has performed during recession and the September 11th cowardly attacks I do not see a labor dispute pushing the stock to that level.
The value of UPS assets ( trucks and planes ) are enough to support a stock price of $30.
Hope this helped.
John D
If UPS were to have a protracted contract dispute the stock would come under pressure but that would not automatically cause a loan to be called.
Most loan to value rates are 50% which means on a loan of $100,000 you would have to pledge $200,000 in stock as collateral.
At of todays price of $57 on a loan of $100,000 the stock would have to decline to below $30.00 a share.
Given the way the stock has performed during recession and the September 11th cowardly attacks I do not see a labor dispute pushing the stock to that level.
The value of UPS assets ( trucks and planes ) are enough to support a stock price of $30.
Hope this helped.
John D
U
upsadvisor
Guest
Tieguy,
Here are some loan calculations based on LIBOR rates from today.
1 Month Libor 1.84 plus bank spead of 1.25
Combined Rate 3.09 %
Annual Int $3090
Monthly Int $257.50
Quarterly $772.50
3 Month LIBOR 3.0925 ( Combined rate )
Annual Int $3092.50
Monthly Int $257.66
Quarterly $772.98
6 Month LIBOR 3.1825 ( Combined rate
Annual Int $3182.50
Monthly Int $265.20
Quarterly $796.50
12 Month LIBOR 3.595 ( Combined Rate )
Annual Int $3595
Monthly Int $299.58
Quarterly $898.74
The spread here is 1.25% for all
The 12 month Rate in the highest but as rates go up it may be a good idea to lock in the overall low rate for a longer period of time.
Most banks will reduce their spread as the loan amount goes up the only initiation fee I know of is what Merrill Lynch charges and that is $1000 which is negotiable ( downward ).
A little levity never hurts
Hope this answers your question.
John D
Here are some loan calculations based on LIBOR rates from today.
1 Month Libor 1.84 plus bank spead of 1.25
Combined Rate 3.09 %
Annual Int $3090
Monthly Int $257.50
Quarterly $772.50
3 Month LIBOR 3.0925 ( Combined rate )
Annual Int $3092.50
Monthly Int $257.66
Quarterly $772.98
6 Month LIBOR 3.1825 ( Combined rate
Annual Int $3182.50
Monthly Int $265.20
Quarterly $796.50
12 Month LIBOR 3.595 ( Combined Rate )
Annual Int $3595
Monthly Int $299.58
Quarterly $898.74
The spread here is 1.25% for all
The 12 month Rate in the highest but as rates go up it may be a good idea to lock in the overall low rate for a longer period of time.
Most banks will reduce their spread as the loan amount goes up the only initiation fee I know of is what Merrill Lynch charges and that is $1000 which is negotiable ( downward ).
A little levity never hurts
Hope this answers your question.
John D
U
upsadvisor
Guest
My2cents,
We may experience some extra volatility in the stock due to the upcoming contract but unless UPS is forced to sign a contract that gives away the store the price should move higher.
Currently UPS trades at a discount to Fed Ex
( on a P/E basis ) which given the quality of UPS earnings and margins vs Fed Ex is something that the market is starting to take notice of.
Fed Ex P/E is about 28 and UPS is about 26
that gives room for UPS to trade up to 60
I personally belive UPS should trade at a premium over Fed Ex.
As far as the contract goes worse case the stock is under pressure short term but after the contract is settled and the economy begins to revive the road should be much clearer.
one last though and I am no labor expert but it would seem that labor is in a weak bargaining position given the current economy and the employees of UPS as owners have a vested interest in seeing the company do well so a long negotiaton process or strike is in no ones best interest.
I case I forgot Happy ( belated ) Holiday's to all.
John D
We may experience some extra volatility in the stock due to the upcoming contract but unless UPS is forced to sign a contract that gives away the store the price should move higher.
Currently UPS trades at a discount to Fed Ex
( on a P/E basis ) which given the quality of UPS earnings and margins vs Fed Ex is something that the market is starting to take notice of.
Fed Ex P/E is about 28 and UPS is about 26
that gives room for UPS to trade up to 60
I personally belive UPS should trade at a premium over Fed Ex.
As far as the contract goes worse case the stock is under pressure short term but after the contract is settled and the economy begins to revive the road should be much clearer.
one last though and I am no labor expert but it would seem that labor is in a weak bargaining position given the current economy and the employees of UPS as owners have a vested interest in seeing the company do well so a long negotiaton process or strike is in no ones best interest.
I case I forgot Happy ( belated ) Holiday's to all.
John D
M
my2cents
Guest
Union boss charged in indictments
Cashman faces counts of bribery, embezzlement
By Shelley Murphy, Globe Staff, 1/18/2002
Local Teamster leaders George Cashman and William Carnes were charged yesterday with embezzling from their own union by fabricating work hours to allow 19 truck drivers, including a reputed Charlestown gangster, to illegally collect $72,400 in health care benefits.
The reputed gangster, John ''Mick'' Murray, and two other men were charged in related indictments with plotting with other members of Teamsters Local 25 to steal computer equipment and guns being shipped through United Parcel Service, including a $50,000 computer shipment belonging to the Navy.
Hours after Cashman, 53, president of Local 25, surrendered to authorities yesterday morning at his Revere home, Acting Governor Jane Swift called for his resignation from the board of directors of the Massachusetts Port Authority, which runs Logan International Airport.
Although Cashman, Carnes, and three men who run a Somerville trucking business are charged with embezzlement for allegedly diverting health care benefits to union truckers who didn't work enough hours to qualify for them, the five men are not accused of personally profiting from the alleged scheme.
''This is a paper case,'' said A. John Pappalardo, a former US attorney who is representing Cashman. ''There is no allegation of violence or any threat of violence. It's unique in that there is no allegation that any of the defendants in this case received any money.''
Cashman declined to comment on the case or Swift's request for his resignation.
After learning of Cashman's 179-count federal indictment, Swift said, ''The credibility of Massport is of paramount interest and importance to the economic health of Massachusetts, and it's under that knowledge that I have asked my legal counsel to secure Mr. Cashman's resignation.''
Cashman was appointed by Governor William friend. Weld in June 1993 and was reappointed by Governor Paul Cellucci in 1998. His current term expires in 2005.
If Cashman does not resign, Swift said she would suspend and replace him under a state law that prohibits a person under federal indictment from holding a seat on the Massport board. She said that any hint that Cashman's actions on the board might have compromised the authority would be dealt with. ''I have a clear goal of making Massport and Logan Airport national models of safety and security,'' Swift said. ''That obviously requires that their credibility be beyond reproach. My hope is that Mr. Cashman will do the right thing.''
Cashman became a virtual no-show at Massport meetings in the summer of 2000, about the time his name surfaced in a federal investigation. Prior to the Sept. 11 terrorist attacks, he missed 10 of the 12 monthly meetings.
The four indictments unsealed yesterday against Cashman, seven other men, and three companies are the first charges to be handed up by a federal grand jury in Worcester that has also been focusing on allegations that Teamsters union officials extorted Hollywood producers who filmed in New England. Although none of the indictments allege wrongdoing by Teamsters involving the movie industry, law enforcement officials said that more charges are expected from the ongoing investigation by the US Department of Labor's racketeering division, US Drug Enforcement Administration, and State Police.
''I do not want to say there are going to be more charges against these defendants, but the investigation is continuing,'' said Assistant US Attorney Fred Wyshak, who is prosecuting the cases against Cashman and the others.
Cashman is charged with conspiracy, embezzlement, and bribery, along with Carnes, 58, of Melrose, the Local 25 vice president; Thomas A. DiSilva, 40, of Nashua; James P. DiSilva, 59, of Lexington; and William P. Belanger, 50, of Winchester.
The indictment also charges three companies run by the DiSilvas: DiSilva Transportation Inc. of Somerville, and Hutchinson Industries and Manfi Leasing Corp., both located in Burlington.
The indictment alleges that Cashman, Carnes, and the others fabricated work orders to make it appear that 19 Teamsters - including Murray and relatives of the DiSilvas - were working for the DiSilvas' companies so that they could collect health care benefits and eventually receive a union pension. According to the indictment, none of the workers had put in enough hours to qualify for the benefits.
Under federal law, a union official can be charged with bribery, even if he didn't personally pocket any money, for diverting benefits to someone else illegally. ''The loss is to the fund, which has to pay benefits that they wouldn't normally have to pay,'' Wyshak said.
Cashman, Carnes, and the DiSilvas pleaded not guilty to the charges yesterday in federal court and were released on $25,000 unsecured bond each. Belanger is slated to be arraigned Tuesday.
Murray, 47, of Charlestown, a convicted bank burglar and associate of fugitive South Boston gangster James ''Whitey'' Bulger, allegedly received $35,000 in undeserved health benefits for himself and his family.
Murray is charged in a separate indictment with racketeering, extortion, embezzlement, and theft for allegedly stealing computer shipments from the UPS facility in Chelmsford and shaking down a bookmaker and an Airborne Express truck driver.
The indictment alleges that Murray and Kevin Weeks, a former Bulger deputy who is now cooperating with investigators, extorted money from a Dorchester bookie. Murray was ordered held without bail yesterday pending a detention hearing Tuesday.
A third indictment charges Thomas Brennan, 35, of Tyngsborough, with plotting with a UPS employee, John Loughlin, at the company's Chelmsford facility to steal shipments containing computer equipment and guns. According to the indictment, Loughlin allegedly helped divert shipments containing computers and guns to Brennan to pay off debts from drugs and gambling.
The fourth indictment charges Bruce Ziskind, 44, of Cambridge, who owned Tufts Electronics, with plotting with another UPS driver, Daniel Gilday, to steal computer shipments. Bob Godlewski, a spokesman at UPS corporate headquarters in Atlanta, said yesterday that the company ''has been cooperating fully with authorities in this investigation and will continue to do so.''
A company official, speaking on condition of anonymity, said that both Gilday and Loughlin were fired some time ago.
Attorney Paul Kelly, who represents Carnes, accused the government of trying to ''unfairly tarnish'' Carnes, Cashman, and the others by linking them to the separate indictments against Murray and Brennan. James DiSilva's attorney, Frank Libby, said, ''They're taking an elephant gun to a mouse. It's a records case.''
Yvonne Abraham, Sean Murphy, and Ralph Ranalli of the Globe Staff contributed to this report.
This story ran on page A1 of the Boston Globe on 1/18/2002.
--------------
Cashman is also a trustee on the New England Teamster/UPS Pension Fund and Secretary-Treasurer of Joint Council No 10.
Cashman faces counts of bribery, embezzlement
By Shelley Murphy, Globe Staff, 1/18/2002
Local Teamster leaders George Cashman and William Carnes were charged yesterday with embezzling from their own union by fabricating work hours to allow 19 truck drivers, including a reputed Charlestown gangster, to illegally collect $72,400 in health care benefits.
The reputed gangster, John ''Mick'' Murray, and two other men were charged in related indictments with plotting with other members of Teamsters Local 25 to steal computer equipment and guns being shipped through United Parcel Service, including a $50,000 computer shipment belonging to the Navy.
Hours after Cashman, 53, president of Local 25, surrendered to authorities yesterday morning at his Revere home, Acting Governor Jane Swift called for his resignation from the board of directors of the Massachusetts Port Authority, which runs Logan International Airport.
Although Cashman, Carnes, and three men who run a Somerville trucking business are charged with embezzlement for allegedly diverting health care benefits to union truckers who didn't work enough hours to qualify for them, the five men are not accused of personally profiting from the alleged scheme.
''This is a paper case,'' said A. John Pappalardo, a former US attorney who is representing Cashman. ''There is no allegation of violence or any threat of violence. It's unique in that there is no allegation that any of the defendants in this case received any money.''
Cashman declined to comment on the case or Swift's request for his resignation.
After learning of Cashman's 179-count federal indictment, Swift said, ''The credibility of Massport is of paramount interest and importance to the economic health of Massachusetts, and it's under that knowledge that I have asked my legal counsel to secure Mr. Cashman's resignation.''
Cashman was appointed by Governor William friend. Weld in June 1993 and was reappointed by Governor Paul Cellucci in 1998. His current term expires in 2005.
If Cashman does not resign, Swift said she would suspend and replace him under a state law that prohibits a person under federal indictment from holding a seat on the Massport board. She said that any hint that Cashman's actions on the board might have compromised the authority would be dealt with. ''I have a clear goal of making Massport and Logan Airport national models of safety and security,'' Swift said. ''That obviously requires that their credibility be beyond reproach. My hope is that Mr. Cashman will do the right thing.''
Cashman became a virtual no-show at Massport meetings in the summer of 2000, about the time his name surfaced in a federal investigation. Prior to the Sept. 11 terrorist attacks, he missed 10 of the 12 monthly meetings.
The four indictments unsealed yesterday against Cashman, seven other men, and three companies are the first charges to be handed up by a federal grand jury in Worcester that has also been focusing on allegations that Teamsters union officials extorted Hollywood producers who filmed in New England. Although none of the indictments allege wrongdoing by Teamsters involving the movie industry, law enforcement officials said that more charges are expected from the ongoing investigation by the US Department of Labor's racketeering division, US Drug Enforcement Administration, and State Police.
''I do not want to say there are going to be more charges against these defendants, but the investigation is continuing,'' said Assistant US Attorney Fred Wyshak, who is prosecuting the cases against Cashman and the others.
Cashman is charged with conspiracy, embezzlement, and bribery, along with Carnes, 58, of Melrose, the Local 25 vice president; Thomas A. DiSilva, 40, of Nashua; James P. DiSilva, 59, of Lexington; and William P. Belanger, 50, of Winchester.
The indictment also charges three companies run by the DiSilvas: DiSilva Transportation Inc. of Somerville, and Hutchinson Industries and Manfi Leasing Corp., both located in Burlington.
The indictment alleges that Cashman, Carnes, and the others fabricated work orders to make it appear that 19 Teamsters - including Murray and relatives of the DiSilvas - were working for the DiSilvas' companies so that they could collect health care benefits and eventually receive a union pension. According to the indictment, none of the workers had put in enough hours to qualify for the benefits.
Under federal law, a union official can be charged with bribery, even if he didn't personally pocket any money, for diverting benefits to someone else illegally. ''The loss is to the fund, which has to pay benefits that they wouldn't normally have to pay,'' Wyshak said.
Cashman, Carnes, and the DiSilvas pleaded not guilty to the charges yesterday in federal court and were released on $25,000 unsecured bond each. Belanger is slated to be arraigned Tuesday.
Murray, 47, of Charlestown, a convicted bank burglar and associate of fugitive South Boston gangster James ''Whitey'' Bulger, allegedly received $35,000 in undeserved health benefits for himself and his family.
Murray is charged in a separate indictment with racketeering, extortion, embezzlement, and theft for allegedly stealing computer shipments from the UPS facility in Chelmsford and shaking down a bookmaker and an Airborne Express truck driver.
The indictment alleges that Murray and Kevin Weeks, a former Bulger deputy who is now cooperating with investigators, extorted money from a Dorchester bookie. Murray was ordered held without bail yesterday pending a detention hearing Tuesday.
A third indictment charges Thomas Brennan, 35, of Tyngsborough, with plotting with a UPS employee, John Loughlin, at the company's Chelmsford facility to steal shipments containing computer equipment and guns. According to the indictment, Loughlin allegedly helped divert shipments containing computers and guns to Brennan to pay off debts from drugs and gambling.
The fourth indictment charges Bruce Ziskind, 44, of Cambridge, who owned Tufts Electronics, with plotting with another UPS driver, Daniel Gilday, to steal computer shipments. Bob Godlewski, a spokesman at UPS corporate headquarters in Atlanta, said yesterday that the company ''has been cooperating fully with authorities in this investigation and will continue to do so.''
A company official, speaking on condition of anonymity, said that both Gilday and Loughlin were fired some time ago.
Attorney Paul Kelly, who represents Carnes, accused the government of trying to ''unfairly tarnish'' Carnes, Cashman, and the others by linking them to the separate indictments against Murray and Brennan. James DiSilva's attorney, Frank Libby, said, ''They're taking an elephant gun to a mouse. It's a records case.''
Yvonne Abraham, Sean Murphy, and Ralph Ranalli of the Globe Staff contributed to this report.
This story ran on page A1 of the Boston Globe on 1/18/2002.
--------------
Cashman is also a trustee on the New England Teamster/UPS Pension Fund and Secretary-Treasurer of Joint Council No 10.
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