P
peter
Guest
Once the FedEx stock price matches UPS's I think I'll sell my brown ones and buy the purple ones; a one for one stock purchase! Soooo disheartening!!
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A
auto2rsb
Guest
Does anyone Know just how much stock UPS and/or its foundations still has in OPL?
G
gsx1990
Guest
Is the below story, posted on this site several
weeks ago, a joke???? I think UPS needs the PR
guys from OPL if they can work magic like that...
gsx1990
-------------------------------------------------
opl news:
"Philadelphia, USA, (February 6, 2002) Overseas Partners U.S. Re named Summerall Success Story of the Year
Overseas Partners US Reinsurance Company (OPUS Re) will be featured in a nationally televised broadcast on February 20th. The interview, produced by Pat Summerall Productions and entitled Summeralls Success Stories airs some time between 5:30 pm and 6:00 pm EST on the Fox Cable News Channel. Summeralls Success Stories heralds the accomplishments of outstanding companies which are judged on a series of qualities such as leadership, growth, innovation, new products and employee benefits. "
Maybe we are seeing a turn around, who knows maybe we will be able to sell stock this year!
Cheers
Tuknick
weeks ago, a joke???? I think UPS needs the PR
guys from OPL if they can work magic like that...
gsx1990
-------------------------------------------------
opl news:
"Philadelphia, USA, (February 6, 2002) Overseas Partners U.S. Re named Summerall Success Story of the Year
Overseas Partners US Reinsurance Company (OPUS Re) will be featured in a nationally televised broadcast on February 20th. The interview, produced by Pat Summerall Productions and entitled Summeralls Success Stories airs some time between 5:30 pm and 6:00 pm EST on the Fox Cable News Channel. Summeralls Success Stories heralds the accomplishments of outstanding companies which are judged on a series of qualities such as leadership, growth, innovation, new products and employee benefits. "
Maybe we are seeing a turn around, who knows maybe we will be able to sell stock this year!
Cheers
Tuknick
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upsproud1
Guest
Let your feelings be heard. Have someone look into this mess. We can't be afraid of the cost to get the answers we need. Here is a site to make it happen. Maybe nothing will come of it, but I'm sure they will make some inquiries if enough people complain. Remember the phrase "good partner" Buy, don't sell. Good partners don't let their parnters down, nor do they decieve them with misleading statements. Hold the OPL board's feet to the fire.http://www.sec.gov/complaint/cf942sec9570.htm
R
rshoe4056
Guest
The shares many of us once got for a quarter(.25) may soon be worth just that, .25 once again. BUS
DaBus posted the above on Motley Fool 2-13-2002.
Actually, he meant: We were GIVEN the stock which was initally valued at .25/sh.
I personally was able to cash in all my OPL years ago and I figure I reaped a huge sum considering OPL cost me nothing! But I do understand that many of you are left holding almost worthless stock.
DaBus posted the above on Motley Fool 2-13-2002.
Actually, he meant: We were GIVEN the stock which was initally valued at .25/sh.
I personally was able to cash in all my OPL years ago and I figure I reaped a huge sum considering OPL cost me nothing! But I do understand that many of you are left holding almost worthless stock.
D
dabusdrivr
Guest
We were given OPL stock as a dividend. It was valued at .25 at the time, but many of us, myself included, were forced to pay a much higher price for the stock over time as we purchased additional UPS stock.
My personal feeling is, we will be lucky to get $5 per share when all the assets of OPL are finally dissolved many years from now.
It wasn't very long ago I spoke my mind on the MF board and said it was unethical for a company like OPL to deny shareholders the right to sell their shares. Many people flamed me for those comments. I wonder if they feel the same now?
My personal feeling is, we will be lucky to get $5 per share when all the assets of OPL are finally dissolved many years from now.
It wasn't very long ago I spoke my mind on the MF board and said it was unethical for a company like OPL to deny shareholders the right to sell their shares. Many people flamed me for those comments. I wonder if they feel the same now?
V
vic
Guest
They are selling off the company because they can't make a profit without UPS reinsurance and there is a lot of shareholder pressure to be able to cash out. I was concerned about not being able to sell my shares but I'd rather hold the stock for 5 more years than have to sell at liquidation prices.
L
lr1937
Guest
I think it is time for ups and the teamsters to come up with something in regards to the contract. It appears as though they are doing the same old crap. I think the union and the company are at a determining crossroad in their long-standing relationship. Both the union and the company face the prospect of a smaller company and a smaller union unless they can come up with a contract that keeps ups competitive.
From all appearances the union is willing to bite the hand of the cash cow that feeds them. They want a historic agreement. They already have historic wages and benefits for their members. No other delivery company is close. It is time for the union to bite the bullet on health and welfare and pension. They have squandered away a lot of what has been negotiated. They need to find ways to provide their members health welfare and pension benefits by cost cutting, not by milking the cash cow. It is uncommon in todays business world to have a company foot the healthcare and pension bills as ups does. UPS is footing the bill for all teamster health welfare and pension benefits, not just ups members. The rank and file needs to demand efficiency and above board administration of these benefits. It is time for a change in the way teamsters administer and steal from these plans and then demand ups pay for their poor management. I think the majority of ups teamsters realize how badly their dues and health and welfare money have been mismanaged and squandered yet they continue to allow their union representatives hang the bill on ups. I have always been amazed at the teamster rank and file allowing their representatives to squander, steal and otherwise mismanage a large amount of health, welfare and pension money.
I think the teamsters and ups need to come to grips with the problem. I think the inability to come to grips with this issue was a big reason for the strike the last time out. There are many other issues in the contract but the health, welfare and pension money is the area for most gain in the economics of the contract negotiations.
From all appearances the union is willing to bite the hand of the cash cow that feeds them. They want a historic agreement. They already have historic wages and benefits for their members. No other delivery company is close. It is time for the union to bite the bullet on health and welfare and pension. They have squandered away a lot of what has been negotiated. They need to find ways to provide their members health welfare and pension benefits by cost cutting, not by milking the cash cow. It is uncommon in todays business world to have a company foot the healthcare and pension bills as ups does. UPS is footing the bill for all teamster health welfare and pension benefits, not just ups members. The rank and file needs to demand efficiency and above board administration of these benefits. It is time for a change in the way teamsters administer and steal from these plans and then demand ups pay for their poor management. I think the majority of ups teamsters realize how badly their dues and health and welfare money have been mismanaged and squandered yet they continue to allow their union representatives hang the bill on ups. I have always been amazed at the teamster rank and file allowing their representatives to squander, steal and otherwise mismanage a large amount of health, welfare and pension money.
I think the teamsters and ups need to come to grips with the problem. I think the inability to come to grips with this issue was a big reason for the strike the last time out. There are many other issues in the contract but the health, welfare and pension money is the area for most gain in the economics of the contract negotiations.
U
upsadvisor
Guest
If you want buy a stock with an unjustifiable P/E and no earnings momentum go ahead.
M
my2cents
Guest
Commissioner: Union trying to skirt right-to-work
2002-02-13
By The Associated Press
TULSA - The state labor commissioner accused the Teamsters union today of trying to skirt the right-to-work law.
The law approved by Oklahoma voters last year bans companies from requiring employees to pay union dues.
Commissioner Brenda Reneau Wynn has ordered Baldwin Steel Co. to stop collecting union dues from employees who aren't members of that company's union, Teamsters' Local 523.
At least 19 employees of the Tulsa-based company have had union dues deducted from their paychecks even though they do not want to pay them, she said.
Wynn said this was the first time since the right-to-work law passed that Oklahoma workers had exercised their right not to pay union dues.
The labor commissioner said Teamsters' Local 523 negotiated a dues "checkoff" in a collective bargaining agreement with Baldwin Steel, allowing the company to deduct union dues from employees.
Wynn said she learned about the situation from Baldwin Steel, which contacted the Labor Department when some employees said they no longer wanted to pay union dues.
"I applaud the company for doing the right thing," she said. "Employees have the right to keep the fruits of their labor. They have the option of not paying union dues or fees now that we're in a right-to-work state.
"It looks like the Teamsters tried to get around right-to-work."
Randy Campbell, president of Teamsters Local 523, said the union has negotiated a "checkoff" agreement with Baldwin Steel for years. The checkoff system saves union members a trip to the union office to pay their dues.
"It's a service that we give to the members," he said.
Campbell said employees who signed the contractual agreements can not get out of them until the one-year anniversary date. The 19 employees who no longer want to participate in the checkoff system with Baldwin Steel will have to pay dues at the union office until the end their agreements expire, he said.
The checkoff agreements are developed by the International Brotherhood of Teamsters and are recognized by the federal government, he said.
Just more than 20 people have asked to get out of the agreements since the right-to-work law was passed, Campbell said. Three people were allowed to get out of the agreements because their contracts were expiring, but 19 others have not, he said.
"Once these people fulfill their contract and ask to get out, then we will quit collecting the dues," he said.
Right-to-work opponents have filed a lawsuit that challenges the law's constitutionality in federal court.
Officials from Baldwin Steel did not return calls from The Associated Press today.
Source: The Oklahoman
2002-02-13
By The Associated Press
TULSA - The state labor commissioner accused the Teamsters union today of trying to skirt the right-to-work law.
The law approved by Oklahoma voters last year bans companies from requiring employees to pay union dues.
Commissioner Brenda Reneau Wynn has ordered Baldwin Steel Co. to stop collecting union dues from employees who aren't members of that company's union, Teamsters' Local 523.
At least 19 employees of the Tulsa-based company have had union dues deducted from their paychecks even though they do not want to pay them, she said.
Wynn said this was the first time since the right-to-work law passed that Oklahoma workers had exercised their right not to pay union dues.
The labor commissioner said Teamsters' Local 523 negotiated a dues "checkoff" in a collective bargaining agreement with Baldwin Steel, allowing the company to deduct union dues from employees.
Wynn said she learned about the situation from Baldwin Steel, which contacted the Labor Department when some employees said they no longer wanted to pay union dues.
"I applaud the company for doing the right thing," she said. "Employees have the right to keep the fruits of their labor. They have the option of not paying union dues or fees now that we're in a right-to-work state.
"It looks like the Teamsters tried to get around right-to-work."
Randy Campbell, president of Teamsters Local 523, said the union has negotiated a "checkoff" agreement with Baldwin Steel for years. The checkoff system saves union members a trip to the union office to pay their dues.
"It's a service that we give to the members," he said.
Campbell said employees who signed the contractual agreements can not get out of them until the one-year anniversary date. The 19 employees who no longer want to participate in the checkoff system with Baldwin Steel will have to pay dues at the union office until the end their agreements expire, he said.
The checkoff agreements are developed by the International Brotherhood of Teamsters and are recognized by the federal government, he said.
Just more than 20 people have asked to get out of the agreements since the right-to-work law was passed, Campbell said. Three people were allowed to get out of the agreements because their contracts were expiring, but 19 others have not, he said.
"Once these people fulfill their contract and ask to get out, then we will quit collecting the dues," he said.
Right-to-work opponents have filed a lawsuit that challenges the law's constitutionality in federal court.
Officials from Baldwin Steel did not return calls from The Associated Press today.
Source: The Oklahoman
H
hubiebrown
Guest
Given that OPL was issued as part of the UPS compensation package, one it misses no opportunity to tout, does anyone know if Brown is going to involve itself in making those to whom it issued the stock whole at any point?
The tightest ship in the shipping business?
The tightest ship in the shipping business?
W
wally
Guest
call 1st union and listen to opl message.
H
hubie
Guest
For those worried about mandatory overtime perhaps in the interest of fairness it should be noted that the Teamsters requested and negotiated for a guaranteed minimum number of hours work per day. My question to you is: If you bargained for a guaranteed minimum number of hours why should the company not be expected to ensure you get all the work you are guaranteed plus a reasonable margin of error, say +/- an hour a day? Why is it reasonable to complain about overtime after bargaining for guaranteed minimum hours? Perhaps such a proposal should be accompanied with a requst to eliminate the guaranteed minimum hours. Or is the request really a masked proposal for a hidden pay raise by locking in either penalty pay for excessive overtime or paid hours not worked?
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gregg
Guest
Still Waiting for someone to give me a response, I live in Aiken,SC , 29 white male, have resumes in with them and so,but never heard from them.tell them about me,Gregg Williamson SS#******** <FONT COLOR="ff0000">(removed by moderator)</FONT> Phone# (803)6480849 or cell# (803)5075005 want to work at tracking center here!
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sectionone
Guest
I agree with previous post stating that I would much rather hold this stock for 5 years as opposed to liquidating at fire sale prices. The worse is suppose to be over for the insurance and reinsurance business and the next few years are predicted to be good for the business so it seems like our timing to liquidate is poor. What upsets me is how OPL changed it's position 180 degrees from the last letter we received this past fall.
F
formerbrown
Guest
Has anyone heard of mass management terminations in California. Saw a post from someone just before I left MF. Post talked of 28 people, mostly managers that started in mid 2001. Has anyone heard of others elsewhere in the country?
Reason I am asking is two fold:.
1. Anyone leaving before age 55 loses up to 60% of their pension and their health and welfare benefits. Over a period of 30 years, this could come to over a million dollars. 28 in California could have the potential of 28 million saved for the company (Hefty impact on the bottom line!).
2. I am one of two, possibly three, in my building in the last month and a half. Wondering if these are just pockets or is the practice more wide spread??
Reason I am asking is two fold:.
1. Anyone leaving before age 55 loses up to 60% of their pension and their health and welfare benefits. Over a period of 30 years, this could come to over a million dollars. 28 in California could have the potential of 28 million saved for the company (Hefty impact on the bottom line!).
2. I am one of two, possibly three, in my building in the last month and a half. Wondering if these are just pockets or is the practice more wide spread??
S
smallcapbuyer
Guest
My memory may be slipping, but wasn't OPL stock part of our MIP package for many years? And didn't we pay income taxes on the value of the MIP? What happens to the taxes we paid on shares we were given with a value higher than the actual price we actually realize from a liquidation? If we were taxed on a stock valued at $10 when it came with our MIP, how do we ever recover the taxes already paid on a $10 security that we end up liquidating at $5 per share? Am I making any sense? I know we can take a loss on the security itself if indeed there is a loss but that's only to the extent of any gains realized on other securities (or $3000/year if there are no other gains). My concern is the income taxes, both state and federal. Can someone tell me anything to relieve this thorn in my paw?
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rshoe4056
Guest
Can someone tell me anything to relieve this thorn in my paw?
You are just gonna have to pull it out and bleed a little. Sorry
You are just gonna have to pull it out and bleed a little. Sorry
S
seahorse1
Guest
Not taking anything away from your comments, just making some of my own. I'm not blind, but I never saw the company "intentionally" try to screw someone over. I heard about District Managers who would fire an employee just to get themselves a $100 raise (don't know that to be factual).
My experience in the 70's and 80's was good. I left on my own terms (hell I even worked a notice...and that wasn't an ordinary thing). I am very thankful for what UPS allowed me to accomplish. My heirs will be forever thankful for the lifestyles they can afford also. Happy ending here.
My experience in the 70's and 80's was good. I left on my own terms (hell I even worked a notice...and that wasn't an ordinary thing). I am very thankful for what UPS allowed me to accomplish. My heirs will be forever thankful for the lifestyles they can afford also. Happy ending here.
S
seahorse1
Guest
I think a "fair" settlement would be a 1 for 1 swap of OPL for UPS shares and then a "lock out" period similiar to the IPO terms (1/3-1/3-1/3). Anyone else agree? (not that it carries any weight, just curious).
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