Raise in new contract

[Just A UPS Guy]

Since we're doing maths here, I'll throw this in.

For simplicity sake, let's just say all 340,000 employees were full time

340,000 employees x immediate $10/hr raise = $3,400,000/hr

$3,400,000/hr X 2080 hours/year = $7,072,000,0000

Or roughly 1.1 Billion less than they spent on stock buybacks last year.

In other words, the company could easily afford to give EVERYONE a $10/hr raise right off the bat, spend all the other money they do, still do 1.1 billion in buybacks, and still keep their 13 billion in profit.

Not saying it's going to happen, just urging to stop looking at only profit and dividing that by employees to get feasibility of payroll. I can't say it enough, it's not about profit it's about allocation of income.

We ALL deserve a bigger piece of the 100 Billion+ pie

Totally agree, my post was more to point out that someone's comparison was actually an argument against himself. I'd be happy with a relatively modest raise if my pension, healthcare, and PTers are very well taken care of.

 

[rebelsss]

We are striking 100 percent. At this point, absolutely no sense to talk about a raise, until after we are on streets. Start saving up your pennies, the strike is happening for sure now without an ounce of doubt.

 

[clean hairy]

We need massive, massive raise. ABF made 290 million profit in 2022 and members got a $3.50 raise first year and a $6.50 over life of contract. We made UPS 13b profit last year. We made UPS almost 45x more $ than ABF. I have repeated myself several times on this thread, usually to much sarcasm by the members how out of bounds I am thinking we deserve a 18-20 raise by the end of the contract. I believe that most here are unaware of how little we are paid compared to the profits we make this company. If It was not for a pension that will pay 639 members a six figure salary at retirement, this company would be unable to have a workforce in the DC area. Just to many other places paying 100k+ a year for much less effort. For those in major cities around the country. talk to people about what they make. In the past this was kind of a taboo subject matter but it will open your eyes to how little we are paid, considering the amount of work, effort required and the profits of those. 13B is a ton of money. This company could pay us $100 an hour and still make the same profit. What does the Company propose…..a .50 raise a year split into a bi annual increase. .25 every 6 months.
View attachment 434613

It should say "I put stockholders first, screw the employees!"

 

[DOK]

We are striking 100 percent. At this point, absolutely no sense to talk about a raise, until after we are on streets. Start saving up your pennies, the strike is happening for sure now without an ounce of doubt.

This might not age well…

 

[DOK]

It should say "I put stockholders first, screw the employees!"

How many employees are also shareholders I wonder?

 

[Coldworld]

Hopefully

He’s not going anywhere… trying to beat Marty Peters “amazing” Run here

Anyone know if this legend is still alive and kicking??

 

[Coldworld]

I'm glad nobody on this site ever figured out my true identity.

Kenny Hall is that you??

 

[Just A UPS Guy]

How many employees are also shareholders I wonder?

Employees own about 1/3 of 1% of all shares...


"United Parcel Service (NYSE: UPS) is owned by 59.01% institutional shareholders, 0.34% United Parcel Service insiders, and 40.66% retail investors. Vanguard Group Inc is the largest individual United Parcel Service shareholder, owning 67.31M shares representing 7.84% of the company. Vanguard Group Inc's United Parcel Service shares are currently valued at $11.40B."

-- wallstreetzen.com

 

[DELACROIX]

Totally agree, my post was more to point out that someone's comparison was actually an argument against himself. I'd be happy with a relatively modest raise if my pension, healthcare, and PTers are very well taken care of.

UPS ‘s employee monetary contributions are divided three ways under our Contract.

a. GWI (general wage increases). Over the last two contracts roughly (about a dollar an hour).

b. Health and Welfare …increases of around .60 per hour

c. Pension ….increases about as same as the H/W.

The pension and Health and Welfare contributions are based off a 40 hour workweek for full timers and a 20 hour one for our part timers.

Some mentioned further contributions being negotiated to relieve the excessive O/T issue.
Great idea but for one thing but the Company will never agree to it. If O’Brien can negotiate that into the Contract he would be set for life.

Another problem is that half our membership are under a (defined pension plan) those plans are not required to pay a weekly monetary contribution, they only have to pay at the end of the year an annual contribution to just cover their pension obligations. That is why other plans are paying twice as much for the same amount of service and age.

Health and Welfare increases sometimes have a (TBA) notation. For example (TEAM CARE) is currently very healthy and can afford our good coverages. Every year their trustees have to market for the best plans out there, so far they have been doing it based in their growth and the multiple employer’s’ contributions, not just UPS’s weekly contribution of (500) a week per Union employee.

The Company will try to reduce each of those three. If the (GWI) is the target they might try to increase the other two. If that happens I expect it to be our (Pensions)… the West gets a considerable amount of those pension contributions and is sitting pretty with the contributions from their other employers.

UPS already had basic control over every member’s pension plan who are under their (Defined Pension Trusts). For those who are under the (IBT/UPS Pension or the UPS Pension Plan) any increases will have to be negotiated they are not subject to the same formula as the Western Conferences. The Western increases are automatic according to their investments and weekly monetary contributions.

 

[Coldworld]

Employees own about 1/3 of 1% of all shares...


"United Parcel Service (NYSE: UPS) is owned by 59.01% institutional shareholders, 0.34% United Parcel Service insiders, and 40.66% retail investors. Vanguard Group Inc is the largest individual United Parcel Service shareholder, owning 67.31M shares representing 7.84% of the company. Vanguard Group Inc's United Parcel Service shares are currently valued at $11.40B."

-- wallstreetzen.com

Do employees still own a different class of stock or is it all the same now?

 

[DELACROIX]

Employees own about 1/3 of 1% of all shares...


"United Parcel Service (NYSE: UPS) is owned by 59.01% institutional shareholders, 0.34% United Parcel Service insiders, and 40.66% retail investors. Vanguard Group Inc is the largest individual United Parcel Service shareholder, owning 67.31M shares representing 7.84% of the company. Vanguard Group Inc's United Parcel Service shares are currently valued at $11.40B."

-- wallstreetzen.com

Union Shareholders have no say…simply not enough shares to make a difference.

 

[Just A UPS Guy]

UPS ‘s employee monetary contributions are divided three ways under our Contract.

a. GWI (general wage increases). Over the last two contracts roughly (about a dollar an hour).

b. Health and Welfare …increases of around .60 per hour

c. Pension ….increases about as same as the H/W.

The pension and Health and Welfare contributions are based off a 40 hour workweek for full timers and a 20 hour one for our part timers.

Some mentioned further contributions being negotiated to relieve the excessive O/T issue.
Great idea but for one thing but the Company will never agree to it. If O’Brien can negotiate that into the Contract he would be set for life.

Another problem is that half our membership are under a (defined pension plan) those plans are not required to pay a weekly monetary contribution, they only have to pay at the end of the year an annual contribution to just cover their pension obligations. That is why other plans are paying twice as much for the same amount of service and age.

Health and Welfare increases sometimes have a (TBA) notation. For example (TEAM CARE) is currently very healthy and can afford our good coverages. Every year their trustees have to market for the best plans out there, so far they have been doing it based in their growth and the multiple employer’s’ contributions, not just UPS’s weekly contribution of (500) a week per Union employee.

The Company will try to reduce each of those three. If the (GWI) is the target they might try to increase the other two. If that happens I expect it to be our (Pensions)… the West gets a considerable amount of those pension contributions and is sitting pretty with the contributions from their other employers.

UPS already had basic control over every member’s pension plan who are under their (Defined Pension Trusts). For those who are under the (IBT/UPS Pension or the UPS Pension Plan) any increases will have to be negotiated they are not subject to the same formula as the Western Conferences. The Western increases are automatic according to their investments and weekly monetary contributions.

I understand how it's divided, that's why I'd be content with modest raises if my pension contributions increased significantly. I don't quite know enough about the defined pensions to offer a fix for them, but I know that in the west your benefit is based on your contributions. I would presume that if the defined plans had more directed into them they would be able to commit more to the retirees as well.

 

[Just A UPS Guy]

Union Shareholders have no say…simply not enough shares to make a difference.

No idea. I don't own any.

 

[DELACROIX]

No idea. I don't own any.

I had some back in 2003 after someone decided to eliminate the (thrift plan)…sold it to pay for my daughter’s wedding… best investment at the time and got great returns..

 

[DELACROIX]

I understand how it's divided, that's why I'd be content with modest raises if my pension contributions increased significantly. I don't quite know enough about the defined pensions to offer a fix for them, but I know that in the west your benefit is based on your contributions. I would presume that if the defined plans had more directed into them they would be able to commit more to the retirees as well.

“The West is the Best”…

To simplify things…

 

[Trucker Clock]

It should say "I put stockholders first, screw the employees!"

The shareholders own the Company. They should always be put first. But we should not be put a distant second. We should be right up there with the shareholders. We are the ones that make them money.

 

[Cowboy Mac]

Kenny Hall is that you??

He’s actually David Abney.

 

[Jkloc420]

I will vote yes if @IVE GOTTA PACKAGE 4U and @UpstateNYUPSer(Ret) fight ufc style in the parking lot of a ups facility

 

[IVE GOTTA PACKAGE 4U]

I will vote yes if @IVE GOTTA PACKAGE 4U and @UpstateNYUPSer(Ret) fight ufc style in the parking lot of a ups facility

That would be my pleasure to run him over with my vehicle

 

[UnionStrong]

That would be my pleasure to run him over with my vehicle