HOFFA , HALL AND OBRIEN campaign announcement

[Lead Belly]

How many are there?
Seems like a lot of work...and kind of nutty?
Do you find yourself referring to yourself in the 3rd person in real life?

I'm an enigma anywhere I go in life and on social media. There has always been others who don't like this but people are drawn to me. Always have. I'm a leader what can I say.

 

[Lead Belly]

That's the easy part.
Showing respect for those with opposing view points, that's called class.
That's what I'm trying to work on.

Maybe you need one of those life coaches.

 

[Bubblehead]

Maybe you need one of those life coaches.

I have one already....me.

 

[Lead Belly]

I have one already....me.

I have three. One who would die for me one to listen and one to tell me what to do when I need a big brother. All three are like the brothers I never had. You seem to have it all figured out. I'm going day by day. I'll admit this you keep going with yourself. It's what's got you to where you are.

 

[Bubblehead]

UPS leaving just prior to the meltdown was incredibly bad timing. The 6 bl + withdrawal liability payment was wiped away by the market and what had been a green zone certification reverted to red and left the CS fund without their largest contributor. Trying to recover those losses without UPS contributions has proven impossible even as the CS Plan has exceeded their assumption ROI rates. Had UPS not left, CS would still be solvent and viable for the moment.

...and then we organize FedEx and others and maybe, just maybe, we would be back on solid ground instead of in another "stratosphere".

 

[Bubblehead]

I have three. One who would die for me one to listen and one to tell me what to do when I need a big brother. All three are like the brothers I never had. You seem to have it all figured out. I'm going day by day. I'll admit this you keep going with yourself. It's what's got you to where you are.

Nobody has it "all figured out".
Those who think they do, are significant liabilities.

 

[Inthegame]

Not sure if I'll ever "like" again. It's all beer all the time!

 

[Lead Belly]

 

[Bubblehead]

I'm an enigma anywhere I go in life and on social media. There has always been others who don't like this but people are drawn to me. Always have. I'm a leader what can I say.

A riddle, wrapped in a mystery, inside an enigma. ~ Winston Churchill

 

[5habits100]

UPS leaving just prior to the meltdown was incredibly bad timing. The 6 bl + withdrawal liability payment was wiped away by the market and what had been a green zone certification reverted to red and left the CS fund without their largest contributor. Trying to recover those losses without UPS contributions has proven impossible even as the CS Plan has exceeded their assumption ROI rates. Had UPS not left, CS would still be solvent and viable for the moment.

I am not saying ups leaving CS was the best thing for it but the ups contributions would not save the fund had they been in it today. It is like sweeping the ocean back with a broom to save the fund. I think they were in the yellow zone when ups pulled out.

 

[Bubblehead]

I am not saying ups leaving CS was the best thing for it but the ups contributions would not save the fund had they been in it today. It is like sweeping the ocean back with a broom to save the fund. I think they were in the yellow zone when ups pulled out.

But it may have made Central States a viable option for other newly organized companies.
The instant UPS bought out, its fate of Central States was sealed, while the truth was concealed.

 

[5habits100]

But it may have made Central States a viable option for other newly organized companies.
The instant UPS bought out, its fate of Central States was sealed, while the truth was concealed.

That is not an accurate statement either. if UPS was in or not no company was going into CS. Prior to the hybrid plan no company would get in and assume the liabilities and risk their company going broke.

 

[5habits100]

But it may have made Central States a viable option for other newly organized companies.
The instant UPS bought out, its fate of Central States was sealed, while the truth was concealed.

What truth was concealed? The fund has 6 retirees for every active. Or 13,000 employers went out since deregulation. If CS goes down the tubes it could take the locals down with it.

 

[Ron Carey lives on]

As some of the tunnel vision pro- Hoffa people have pointed out, Carey was a 1 term president, if 30 and out was a bad idea, Hoffa has had plenty of time to change it?

Sent using BrownCafe App

 

[UpstateNYUPSer(Ret)]

Pensions are the original ponzi scheme, predicated on continued participation.
Letting UPS out of Central States sealed its fate.

No one "let UPS out of Central States"----the company saw the writing on the wall and had the financial means to do the right thing for their employees and retirees.

 

[UpstateNYUPSer(Ret)]

Had UPS not left, CS would still be solvent and viable for the moment.

You have no way of knowing whether this is true or not but, based on prior results, I would have to think that CS would have gone under had it not been for the $6.1B infusion.

 

[Inthegame]

You have no way of knowing whether this is true or not but, based on prior results, I would have to think that CS would have gone under had it not been for the $6.1B infusion.

Prior results have nothing to do with the timing of the situation. Had UPS not paid their withdrawal liability in 2007, that number would have been proportionately larger today because of the meltdown of 2008. The market wiped away 35% of the CS holdings. The market didn't wipe away a penny of UPS's withdrawal obligation had they not exercised the option of withdrawing.
If UPS contributions were still being made after 2008 and the fund enjoyed several years of excess roi as it has, CS Pension would be in better shape today.

 

[Bubblehead]

That is not an accurate statement either. if UPS was in or not no company was going into CS. Prior to the hybrid plan no company would get in and assume the liabilities and risk their company going broke.

It was a hypothetical scenario based on another post, predicated on UPS never leaving the fund.
Had those things happened, combined with the hybrid plan, what I suggested would be possible and may have started the fund back toward solvency.

 

[Lead Belly]

It was a hypothetical scenario based on another post, predicated on UPS never leaving the fund.
Had those things happened, combined with the hybrid plan, what I suggested would be possible and may have started the fund back toward solvency.

Once the cuts are made the fund will be on the way back to solvency.

 

[UpstateNYUPSer(Ret)]

Prior results have nothing to do with the timing of the situation. Had UPS not paid their withdrawal liability in 2007, that number would have been proportionately larger today because of the meltdown of 2008. The market wiped away 35% of the CS holdings. The market didn't wipe away a penny of UPS's withdrawal obligation had they not exercised the option of withdrawing.
If UPS contributions were still being made after 2008 and the fund enjoyed several years of excess roi as it has, CS Pension would be in better shape today.

....and if UPS had not withdrawn and the fund went belly up anyway UPSers, both active and retired, would have been SOL.

The company did the right thing for their employees and retirees.