Buy Outs

[Johney]

upstate,
I get your point, but I've always come to the conclusion that when I retire from here I will still need to work some sort of odd job.Whether it be never putting enough into my 401K or raising three kids and supporting a wife who gave up her career to raise those three kids without day care. Not really sure. I just know that deep down if they offered me $100,000 that would pay off every bill I have and leave enough to give me a nice buffer zone until I found a decent job with less wear and tear and less stress.

 

[ups clerk]

upsclerk,
I assure you under your theory of UPS paying 3 people $10 an hour compared to one making $30+ the union would not be getting the dues they are now nor the membership.

They wouldn't be getting the dues of 80 bucks a month, but they would be getting the initiation fee from every new hire, which is 250 dollars or more. That would more than make up for the 80 dollars that the teamsters would lose, especially if the person leaves, after they pay the initation fee. Once the person leaves, the cycle starts all over again. Remember, too, the union is also getting the regular dues from these new hires.

 

[UpstateNYUPSer(Ret)]

upsclerk,
I assure you under your theory of UPS paying 3 people $10 an hour compared to one making $30+ the union would not be getting the dues they are now nor the membership.

We pay 3 X our hourly once per month for union dues so at least in my area the union would break even on dues and be up whatever the initiation fees are times 3.

 

[Buck Fifty]

This you can be sure of.... What ever the company offers would not benefit you as much as it benefited them. So why anybody would do it is beyond me.

 

[UpstateNYUPSer(Ret)]

This you can be sure of.... What ever the company offers would not benefit you as much as it benefited them. So why anybody would do it is beyond me.

The answer to this would depend upon the financial situation the employee is in at the time of the buyout. If the employee has led a frugal lifestyle, has fully funded their 401k's or other investment vehicles and has little to no debt, a buyout would make sense. If the employee lives paycheck to paycheck and has more toys than Walmart a buyout would most likely not make sense.

 

[40 and out]

There is not going to be any buyout. The only way this even comes close to making sense for UPS is in combination with a BIG drop in pay for new drivers and why in the hell would we agree to that. Why would our union even present that to us to vote on? Any other ridiculous rumors we want to discuss?

 

[Buck Fifty]

The answer to this would depend upon the financial situation the employee is in at the time of the buyout. If the employee has led a frugal lifestyle, has fully funded their 401k's or other investment vehicles and has little to no debt, a buyout would make sense. If the employee lives paycheck to paycheck and has more toys than Walmart a buyout would most likely not make sense.

No, it would never make sense. If you were thinking of only yourself and your situation (Which of course you are), It would. But if you Think about what it would bring about for the future of this job and the people who perform it, NO it never would.

I figured out long ago, that No is the toughest thing to say. Its easy to say YES.

 

[bigblu 2 you]

just a rumor but i heard ups is going to throw in a turkey with the buyout..just a rumor though ,,please dont consider as factual.

 

[UpstateNYUPSer(Ret)]

No, it would never make sense. If you were thinking of only yourself and your situation (Which of course you are), It would. But if you Think about what it would bring about for the future of this job and the people who perform it, NO it never would.

I figured out long ago, that No is the toughest thing to say. Its easy to say YES.

Of course I was thinking about myself and my situation. Do you pay my bills or fund my 401k? Will you be there in 7 years when I make the transition to retirement?

The economic reality is that the wage disparity between FedEx Ground and UPS needs to be addressed, whether by displacing older workers, implementing a two-tiered wage system or passing along a portion of the healthcare costs to the employees.

All of this talk about buyouts is conjecture as a buyout does not make economic sense for the company.