P
peacock71
Guest
Keep in mind the UPSERS in only being tested in a few areas -
Go UPS!
P71
Go UPS!
P71
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J
jcroche
Guest
Try a different browser - I couln't get in using Netscape Navigator. Tried it with Internet Explorer and it worked.
U
upsadvisor
Guest
I find it interesting that while UPS is asking the Govt to review its "one size fits all" policy that requires bullet proof doors on cockpits that Fed Ex has said they intend to comply with the ruling.
The cost has been estimated at $15,000 per plane.
Well why not they will just have the Fed's pay for it with another guranteed loan "
( welfare / handout ) and look like a hero to the FAA.
Just so there is no misunderstanding I am not saying there should not be safety requrements for cockpit doors, it just seems to me that Fed Ex is on the Fed Govt gravy train with the loans and the USPS contract.
If you can compete go for the hand out, nicely played Fed Ex.
( now I know why they call it Fed Ex ).
I feel much better now.
John
The cost has been estimated at $15,000 per plane.
Well why not they will just have the Fed's pay for it with another guranteed loan "
( welfare / handout ) and look like a hero to the FAA.
Just so there is no misunderstanding I am not saying there should not be safety requrements for cockpit doors, it just seems to me that Fed Ex is on the Fed Govt gravy train with the loans and the USPS contract.
If you can compete go for the hand out, nicely played Fed Ex.
( now I know why they call it Fed Ex ).
I feel much better now.
John
S
stomlinson
Guest
I don't know what the source of funding will be for the FedEx changes, but I assume they have to make the changes in order to continue the employee "jump" benefits.
UPS does not offer this to their employees, so it stands to reason they should get an exemption.
UPS does not offer this to their employees, so it stands to reason they should get an exemption.
U
upsadvisor
Guest
I do not know where they will get the funding, it was more a venting of my frustration with Fed Ex for breaking ranks with the industy.
The article basically said that if you operate commercial jets you have to install the doors.
UPS is saying the industry should be held to a differnt set of rules than passenger Jets.
If the case is that Fed Ex allows employees to use their plane's as their own personal airline then they should have to comply with the safty standards and bear the cost.
By the same token if UPS does not allow jump seat passengers then why should we ( the shareholders ) have to incur the same cost.
I think UPS has a point when saying that there should be different rules and not a one size fits all.
Whatever the outcome safety should come first, for the peole on the ground and the crews in the air.
John
The article basically said that if you operate commercial jets you have to install the doors.
UPS is saying the industry should be held to a differnt set of rules than passenger Jets.
If the case is that Fed Ex allows employees to use their plane's as their own personal airline then they should have to comply with the safty standards and bear the cost.
By the same token if UPS does not allow jump seat passengers then why should we ( the shareholders ) have to incur the same cost.
I think UPS has a point when saying that there should be different rules and not a one size fits all.
Whatever the outcome safety should come first, for the peole on the ground and the crews in the air.
John
S
spidey
Guest
Ask your sup or OMS to post a weekly entitlement report. It's in CRS. I know it lists vacation and sick leave, probably optionals as well. It comes out on Thursdays, but I think we post ours on Fridays. I also keep a UPS calendar and mark off my opt, sick and vacation as I use them, just so there is no confusion later on.
Spidey
Spidey
F
frank
Guest
thanks guys
L
lr1937
Guest
Does anyone have any info on health coverage after 65? How does coverage change? Is there a number to call or a person to contact? Help.
U
upsadvisor
Guest
Are you referring to health coverage in general or through your retirement benefits ?
L
lr1937
Guest
Retirement benefits.
D
dabusdrivr
Guest
At 65 your primary health coverage is through medicare. UPS then becomes your secondary coverage. At 65 you lose your dental and vison care also. UPS will also pick up some charges over and above what medicare doesn't cover, provided they are not over and above customary charges. Read you UPS benefit booklet or call UPS to get additional information. Before you turn 65 you need to get as much information as possible about what your entitled too in both Medicare and UPS benefits.
U
upsadvisor
Guest
I would look at supplemenal coverage, If you have a few years until retirement the sooner you know
the cost the better you can plan for it.
The last thing you need is to find out when you need it most you dont have enough coverage and you have to start dipping into your retirment savings.
Its better to pay for insurance now that you hopefully will never need then to have a group of doctors and health care providers end up with what you spent a lifetime saving.
Its a matter of chosing your poison, but better to take a little now then alot later, I am sure you would rather see your family end up with the legacy of your hard work than then health care industry.
Just for the record I am not a fan of either the Insurance industry or the Health Care industry they are however neccessary evils.
( Much like advisors, little joke there.. I hope )
You can look on the web and get rates on various types of coverage and the cost, as well as the cost's associated with various medical needs in an aging population.
John
the cost the better you can plan for it.
The last thing you need is to find out when you need it most you dont have enough coverage and you have to start dipping into your retirment savings.
Its better to pay for insurance now that you hopefully will never need then to have a group of doctors and health care providers end up with what you spent a lifetime saving.
Its a matter of chosing your poison, but better to take a little now then alot later, I am sure you would rather see your family end up with the legacy of your hard work than then health care industry.
Just for the record I am not a fan of either the Insurance industry or the Health Care industry they are however neccessary evils.
( Much like advisors, little joke there.. I hope )
You can look on the web and get rates on various types of coverage and the cost, as well as the cost's associated with various medical needs in an aging population.
John
L
lr1937
Guest
upsadvisor and Bus thanks for your help. I am already retired and will be at 65 soon. I think I will call ups.
By the way Bus, I see you are posting at MF. I have been thinking about returning to the board just to stay abreast of what is happening at ups.
I don't take all of the boards to seriously but there is some good info comes out of them.
By the way Bus, I see you are posting at MF. I have been thinking about returning to the board just to stay abreast of what is happening at ups.
I don't take all of the boards to seriously but there is some good info comes out of them.
D
dabusdrivr
Guest
lr1937, Yes I'm posting on both the MF and BC boards. Many of the regulars have since returned to the MF board. I love the Brown Cafe board, but find the MF board a bit easier to navigate, plus there seems to be more up to the minute UPS information available on MF.
S
spycmon
Guest
Im filing a grievance regarding UPS not following proper procedure regarding seniority as it pertains to extra work on Saturdays. I signed the bid list for a particular Sat and I was not called and 3 drivers with less seniority were called and worked and I'm filing on the driver with the most hours when I'm being pressured by fellow workers, management and stewards to file for the least senior drivers hours. This doesn't seem right. Any opinions?
T
thedrooler
Guest
I think you've mistaken this board for Teamster.net. Just my opinion.
Drooler
Drooler
S
spycmon
Guest
That certainly isn't what it says in regards to forum etiquette. What, is this a "praise only" board. As far as I know know I haven't made any derrogetory remarks toward UPS. I work there. Exactly what is wrong with Teamster.net and why do you specifically seeem to refer anyone who questions anything about UPS to it? A little too gung-ho maybe? If you didn't have an opinion about my question then don't feel the need to post.
B
bozo
Guest
CFO Spotlight: UPS takes the fiscally conservative route
UPS CFO Scott Davis discusses UPS's position as one of nine AAA rated companies in the United States.
CNNfn
Amanda Lang, CNNfn ANCHOR, BEFORE HOURS: Wall Street considers transportation companies one of the best sectors to help gauge business activity. Sometimes it`s just a matter of looking at the truck parked outside your front door.
In this CFO spotlight, we speak with Scott Davis; he`s chief financial officer at UPS. He joins us from Atlanta.
Welcome to the program.
Scott: Nice to be here today.
Lang: This is part of our ongoing series, talking to CFOs. There`s an obvious reason for that. Your job has always been complicated. It`s certainly in more focus these days. What`s the biggest challenge for you in terms of organizing the finances of the world`s largest shipping company?
Scott: Fortunately, we`re in a wonderful situation. We are one of only nine AAA companies in the United States. We have very strong financials. Probably the biggest battle we have today is fighting the uncertain economy that we`ve seen in 2001-and still uncertain in 2002 going forward.
Lang: What kind of expectations do you have for economic recovery? To what extent are your forecasts and expectations about your own business predicated on that?
Scott: Some of the economy has a big impact on us. It feels like we`re at the bottom of this economic cycle, yet we don`t see exactly when the rebound is going to happen. We`re certainly, I think, going with the economists who expect a better second half of the year. It`s hard to tell exactly how steep the rebound will be.
Lang: One of the big costs for you, one imagines, is affected by rising prices of oil. That plays into gas and other oil-related petroleum products. How is that affecting your cost margins at the moment?
Scott: We do a good job managing our fuel costs. Approximately, it`s about 3 percent of our revenue. Most of the transportation world sees fuel costs as 6 percent to 7 percent of revenue. Also, in anticipation of the volatile fuel prices, we put in an index field surcharge a few months ago. So, it adjusts every month. As fuel costs go up, our surcharge will go up, as they go down, our surcharge will be reduced.
Lang: Have you been finding that your customers are receptive to that? One of the big issues for many companies is pricing power. Is this something you`ll be able to pass on to customers?
Scott: I think the customers understand the volatility of fuel prices. They know when fuel prices go up the surcharge goes up. As we`ve seen the last several months, oil has been down, the surcharge has been down. So, it`s a fair way of imposing the prices.
Lang: What about financing, a lot of talk lately about rising cost of capital, certainly the debt market and the credit market`s tightening, certainly at the short shorter end of the spectrum. Any thoughts about that and how it might affect you?
Scott: Again, we`re not a big borrower. We`re a AAA rated company. Generally, we have fantastic cash flow generation, generated about $1.5 billion in pre-cash flow in 2001, should do equally as well in 2002. When we do have to go to the markets, we borrow not much more than government Treasuries.
Lang: Now, got to ask you about recent stories, you dealt, as did many companies, with a profit decline recently. There were questions raised about executive salaries going up while profits were declining. Any response that?
Scott: I think if you look at our executive salaries, you will find they are well below the median in the industry. I think that our philosophy is that our managers invest and own a lot of UPS stock. Really, that`s what drives their compensation, how well the company performs.
Lang: In your outlook, if we see a slower recovery than expected, how much does that change your forecast for the company?
Scott: We`re managing this company right now as if the company is going to stay reasonably soft for the near term. We saw that in 2001. We did a great job managing costs. We pulled $275 million of semi-variable costs out of the system. We`ll do the same thing in 2002. One thing about UPS, we outperform the transportation companies in good times and in bad times.
Lang: Do you see your job getting more complex these days?
Scott: I don`t think it gets more complex. I think there`s a little more focus on CFOs and the financial reporting. Again, our philosophy, always has been and always will be, conservative financial reporting.
Lang: Scott Scott, we thank you for joining us as part of our ongoing series into CFOs. Scott Scott is the CFO of UPS. Thanks for being here.
Scott: Thanks for having me.
UPS CFO Scott Davis discusses UPS's position as one of nine AAA rated companies in the United States.
CNNfn
Amanda Lang, CNNfn ANCHOR, BEFORE HOURS: Wall Street considers transportation companies one of the best sectors to help gauge business activity. Sometimes it`s just a matter of looking at the truck parked outside your front door.
In this CFO spotlight, we speak with Scott Davis; he`s chief financial officer at UPS. He joins us from Atlanta.
Welcome to the program.
Scott: Nice to be here today.
Lang: This is part of our ongoing series, talking to CFOs. There`s an obvious reason for that. Your job has always been complicated. It`s certainly in more focus these days. What`s the biggest challenge for you in terms of organizing the finances of the world`s largest shipping company?
Scott: Fortunately, we`re in a wonderful situation. We are one of only nine AAA companies in the United States. We have very strong financials. Probably the biggest battle we have today is fighting the uncertain economy that we`ve seen in 2001-and still uncertain in 2002 going forward.
Lang: What kind of expectations do you have for economic recovery? To what extent are your forecasts and expectations about your own business predicated on that?
Scott: Some of the economy has a big impact on us. It feels like we`re at the bottom of this economic cycle, yet we don`t see exactly when the rebound is going to happen. We`re certainly, I think, going with the economists who expect a better second half of the year. It`s hard to tell exactly how steep the rebound will be.
Lang: One of the big costs for you, one imagines, is affected by rising prices of oil. That plays into gas and other oil-related petroleum products. How is that affecting your cost margins at the moment?
Scott: We do a good job managing our fuel costs. Approximately, it`s about 3 percent of our revenue. Most of the transportation world sees fuel costs as 6 percent to 7 percent of revenue. Also, in anticipation of the volatile fuel prices, we put in an index field surcharge a few months ago. So, it adjusts every month. As fuel costs go up, our surcharge will go up, as they go down, our surcharge will be reduced.
Lang: Have you been finding that your customers are receptive to that? One of the big issues for many companies is pricing power. Is this something you`ll be able to pass on to customers?
Scott: I think the customers understand the volatility of fuel prices. They know when fuel prices go up the surcharge goes up. As we`ve seen the last several months, oil has been down, the surcharge has been down. So, it`s a fair way of imposing the prices.
Lang: What about financing, a lot of talk lately about rising cost of capital, certainly the debt market and the credit market`s tightening, certainly at the short shorter end of the spectrum. Any thoughts about that and how it might affect you?
Scott: Again, we`re not a big borrower. We`re a AAA rated company. Generally, we have fantastic cash flow generation, generated about $1.5 billion in pre-cash flow in 2001, should do equally as well in 2002. When we do have to go to the markets, we borrow not much more than government Treasuries.
Lang: Now, got to ask you about recent stories, you dealt, as did many companies, with a profit decline recently. There were questions raised about executive salaries going up while profits were declining. Any response that?
Scott: I think if you look at our executive salaries, you will find they are well below the median in the industry. I think that our philosophy is that our managers invest and own a lot of UPS stock. Really, that`s what drives their compensation, how well the company performs.
Lang: In your outlook, if we see a slower recovery than expected, how much does that change your forecast for the company?
Scott: We`re managing this company right now as if the company is going to stay reasonably soft for the near term. We saw that in 2001. We did a great job managing costs. We pulled $275 million of semi-variable costs out of the system. We`ll do the same thing in 2002. One thing about UPS, we outperform the transportation companies in good times and in bad times.
Lang: Do you see your job getting more complex these days?
Scott: I don`t think it gets more complex. I think there`s a little more focus on CFOs and the financial reporting. Again, our philosophy, always has been and always will be, conservative financial reporting.
Lang: Scott Scott, we thank you for joining us as part of our ongoing series into CFOs. Scott Scott is the CFO of UPS. Thanks for being here.
Scott: Thanks for having me.
T
thedrooler
Guest
The opinions you seek are best given by a teamster official. If they are telling you what action to take and you don't agree with them, seek the aid of a union official higher up the food chain. How about your business agent. Has he been involved? I don't think this website is the forum for your problem to be debated. Just my opinion.
Drooler
Drooler
L
lr1937
Guest
Have you talked to your manager or supervisor about it? This step is sometimes missed and can sometimes resolve the problem without a lot of mess.
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