Inflation Is A Blessing In Disguise For Next Contract

[100%]

UPS Gross Profit 2010-2024 | UPS

UPS annual/quarterly gross profit history and growth rate from 2010 to 2024. Gross profit can be defined as the profit a company makes after deducting the variable costs directly associated with making and selling its products or providing its services. <ul style='margin-top:10px;'>...

www.macrotrends.net

Post the NET profit.

 

[Its_a_me]

Post the NET profit.

Net profits treat larger management bonuses as a necessary business expense. It is not: it is a choice being hidden as an operating expense.

Gross is more telling of the company's health compared to it's current strategy. It more easily separates strategy vs earnings and ignores dumb management ideas (like cutting hourly employees expenses while paying even larger management bonuses) which is going against conventional business guidance.

Why reward the company for wasteful spending-- like CEO bonus money for doing nothing but starting at the position when 1/2 the country stayed home and ordered things? All that is before other easy ways to manipulate net profit such as large capital expenditures (say buying a bunch of new airplanes on top of the large airplane order or say ordering a bunch of new DIADs or say a new IT initiative to reduce mileage called ORION).

NO, if they are using Net profit as a basis for contract negotiations the C-suite execs will be laughing all the way to the bank.

 

[TopsyKrets]

Yep

 

[Over70irregs]

After Bank of England and Australia turned their printers on we will see after Fed closed door meeting Monday Oct 3. We are in a doom loop. If there is a pivot which there WILL be eventually now or later our position will be strengthened.

 

[100%]

Net profits treat larger management bonuses as a necessary business expense. It is not: it is a choice being hidden as an operating expense.

Gross is more telling of the company's health compared to it's current strategy. It more easily separates strategy vs earnings and ignores dumb management ideas (like cutting hourly employees expenses while paying even larger management bonuses) which is going against conventional business guidance.

Why reward the company for wasteful spending-- like CEO bonus money for doing nothing but starting at the position when 1/2 the country stayed home and ordered things? All that is before other easy ways to manipulate net profit such as large capital expenditures (say buying a bunch of new airplanes on top of the large airplane order or say ordering a bunch of new DIADs or say a new IT initiative to reduce mileage called ORION).

NO, if they are using Net profit as a basis for contract negotiations the C-suite execs will be laughing all the way to the bank.

Sure thing. Post the NET profit, that’s what we’re here for. It’s about $30B over the life of this contract. Plenty of money.

 

[NW.Hunter]

FALSE.

COMPLETELY FALSE.

Hoffa's incompetence in 2013 at the negotiating table made this statement untrue starting in 2018 even when ignoring the hidden costs of healthcare that have pushed onto workers.

First, it allowed the company to offload it's healthcare onto the Central States Health and Welfare Plan fund which is now Teamcare. Under the company's financial statements that year it was listed as a Liability Transfer and UPS had “removed a significant liability from our balance sheet,”that would “control the volatility of healthcare inflation [i.e., increasing health costs], and removes the risk associated with providing future retiree healthcare.” In layman's terms the company gave the union money upfront and will make minimal payments to justify cuts (which will be sharper as time proceeds) to workers’ benefits in the future which will be needed as healthcare costs continue to inflate.

Plus other costs were hidden: more than a few because benefits were reduced. For example: can't get the name brand prescription drugs if a generic alternative is available (before it was your choice)--well you can but you have to pay for it. Same thing happened if your doctor wasn't in their network. And the formulary prescription drug list keeps making more and more medications "brand names" even if the total benefits of 1 pill aren't the same as the 3 generics the plan requires. Oh and good luck having to call about billing on the brand name that isn't available in generic but was denied at the pharmacy as being covered. On top of that they added penalties like loss of TeamCare Family Protection Benefit if you see an out-of-network provider for non-emergency medical care.

Secondly, then there's the costs not hidden: Starting in 2018 an annual plan deductible was introduced. $100.00/$200.00 (single/family).

Even when you could get coverage continued to get worse. It got to be having to wait 1 year for an individual and 1.5 years for a family before regressing to 9 months waiting now. Then there's the dropping coverage on a weekly basis (one punch rule or the 225/400 hrs work in 3 months for others).

...and on the pension front: you are paying via hidden administrative costs that have risen (less money available). Request the paperwork you are legally allowed to and compare every year.


...now cue the usual we're better than others non-sense that doesn't apply as it ignores what is expected in the jobs.

sounds like its a good thing we are not on teamcare in the pnw

 

[rod]

2017 UPS profit $50.60B
2018 UPS profit $53.29B up 5.31% from 2017
2019 UPS profits $56.377B up 5.79% from 2018
2020 UPS profits $64.05B up 13.61% from 2019
2021 UPS profits $71.939B up 12.32% from 2020

2022 UPS gross profit for the Q1 ending March 31, 2022 was $17.932B, up 4.02% from 2021

Think of that next time someone tells you about Hoffa's best contract ever.

All this proves is that UPS charges too much for shipping.

 

[PT Car Washer]

All this proves is that UPS charges too much for shipping.

And yet UPS can't hire enough help.

 

[Over70irregs]

And yet UPS can't hire enough help.

They have you. You are the help

 

[DELACROIX]

And yet UPS can't hire enough help.

They are trying too...But all they want as in the past are (temporary, part time, Union Free employees.) No long time commitments and cheaper costs associated with paying into the members' future pension and health and welfare funds.

 

[DELACROIX]

Actually, massive inflation and low unemployment almost always leads to a recession within 2 years of it happening. This very well could be the case next summer and would cause the company to more aggressively seek to get union concessions.

The low unemployment could theoretically help UPS starting wages---but that would admit how badly the union has done as a union contracted wage should never compete with a minimum wage: even at a starter position.

The leverage the union should take into negotiations is

2017 UPS profit $50.60B
2018 UPS profit $53.29B up 5.31% from 2017
2019 UPS profits $56.377B up 5.79% from 2018
2020 UPS profits $64.05B up 13.61% from 2019
2021 UPS profits $71.939B up 12.32% from 2020

2022 UPS gross profit for the Q1 ending March 31, 2022 was $17.932B, up 4.02% from 2021

Think of that next time someone tells you about Hoffa's best contract ever.

The only person that thought it was the Best Contract Ever was Hoffa...the rest of us minions didn't matter.

 

[100%]

All this proves is that UPS charges too much for shipping.

These are gross profit numbers, not NET profit.