Catatonic
Nine Lives
Per game, they make more!
Income Inequality
- Thread starter moreluck
- Start date
The Yankees just signed a pitcher to a $220 million 7 year contract. That's real money for a guy starting 20 games a year. Per game, that's more than double Payton Manning money.
MAKAVELI
Well-Known Member
Not to mention baseball's contracts are guaranteed no matter if the player gets injured or traded. The NFL players wish they had MLB's union.
A story of what?
Catatonic
Nine Lives
UpstateNYUPSer(Ret)
Well-Known Member
The contract was "only" $155M over 7 with a buyout after 4. They paid $18M to his former team. Included in the contract are $85K per year for the interpreter of his choice, 4 round trip first class plane tickets from Japan and a $100K per year housing allowance.
The Yankees have been spending money like a drunk sailor on a 3 day pass.
island1fox
Well-Known Member
bbsam,
Sure the football players should be out sitting with the occupy wall street Idiots !!
Anyone "protecting" a pigskin --making hundreds of thousands if not millions for 6 months of work----compared to our Soldiers who are protecting us ---making less than people flipping burgers !!
I would not be too concerned with the salary cap !!
Island
The fact remains, it is not a "free" market. UPS employees have their earnings capped don't they? What happens if a driver runs 2 hours over every day? Are Walmart employees any different outside of scale? Do you know why I incorporated years ago? Because as our accountant explained, the tax laws are written to favor that business structure. Same reason executives take pay on stock options. Same reason companies have dropped "defined benefits" packages for 401(k) plans. The system is rigged.
The fact remains, it is not a "free" market. UPS employees have their earnings capped don't they? What happens if a driver runs 2 hours over every day? Are Walmart employees any different outside of scale? Do you know why I incorporated years ago? Because as our accountant explained, the tax laws are written to favor that business structure. Same reason executives take pay on stock options. Same reason companies have dropped "defined benefits" packages for 401(k) plans. The system is rigged.
brett636
Well-Known Member
Being that you are incorporated you must be free to offer whatever retirement package you deem worthy of your employees. What kind of defined benefit plan do you offer since you seem to be so much in favor of it?
You are making my point. Thanks. The system is rigged from the top and there is no way Fedex will pay me enough to afford that.
Island
Why do you dislike this post? Need more proof that it's rigged?
How about this. I have 10 routes of the sixty in the building. Guess what would happen if I were to buy out another contractor with 10 routes. The company wouldn't let me do it. They don't want me to become"too successful" because it leaves themselves vulnerable. What if I pulled all my trucks tomorrow and quit? It happened not too far from here right after peak. It's a mess. Or what if I owned the entire building and my employees voted in the union? The Ground side has no RLA to hide behind. We could be organized building by building if only one contractor was in each building. As it stands now in our building, the union would have to organize the drivers of seven different contractors.
It's rigged with a facade of independence that melds with the tested gray area of exactly how much control the company can exert without violating "contractor" status. They've been honing it for years.
brett636
Well-Known Member
I guess its always convenient to blame some other person or entity for your personal shortfalls. Bottom line is you wish show support for a retirement package that you admit you do not offer which makes you a grade-A hypocrite. Defined benefit retirement packages are becoming more rare simply because they are so expensive to maintain. It has nothing to do with built in inequality as you may try to claim, but simple math.
Yes. It's simple math and Fedex isn't paying it. And it's not blaming anyone or anything. It's pointing out that Fedex doesn't have to pay competitive compensation for its work force (on par with UPS) because the system is rigged to allow them not to. I don't blame them one bit, but I don't pretend that it's an even playing field and if my drivers work really hard that one day they will make UPS money.
brett636
Well-Known Member
Fedex isn't the only company not going with defined benefit retirement plans. The bottom line is they are simply too expensive for most companies to maintain. I may have a pension that I am earning credit towards, but I value my 401k so much more. Simply because my pension is only good so long as I have a pulse. My 401k is mine forever and will therefore go to my heirs who should benefit from my good money management skills. Those who don't take advantage of the 401k plans they have available to them have only themselves to blame.
1989
Well-Known Member
How about this. I have 10 routes of the sixty in the building. Guess what would happen if I were to buy out another contractor with 10 routes. The company wouldn't let me do it. They don't want me to become"too successful" because it leaves themselves vulnerable. What if I pulled all my trucks tomorrow and quit? It happened not too far from here right after peak. It's a mess. Or what if I owned the entire building
Read more: http://www.browncafe.com/community/threads/income-inequality.354575/page-3#ixzz2rJUHHeiS
Sounds like a monopoly clause to me
Read more: http://www.browncafe.com/community/threads/income-inequality.354575/page-3#ixzz2rJUHHeiS
Sounds like a monopoly clause to me
Not really. I can't own more than 27% of the business in the terminal. In no circumstance is 27% a monopoly.
UpstateNYUPSer(Ret)
Well-Known Member
Could you form a second LLC to purchase those 10 additional routes?
No. FedEx will not deal with LLC's. Another Sub S corporation? Possibly but not likely. I think the company has given itself enough latitude to be cautious in putting too much stock in a single entity or even multiple entities (corporations) controlled by a single person (or even if my wife were president of the second).
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