The partners have left the room

[DELACROIX]

The guy is wrong about where the headquarter is. It is surprising but I don't really care.

-------------------------------------------------------------------------------------------------------------------------

ARTICLE I. Offices. Section 1. Registered Office. The registered office of United Parcel Service, Inc. (hereinafter called the Corporation), in the State of Delaware, shall be in the City of Wilmington, County of New Castle, or at such other location within the State of Delaware as determined by the Board of Directors of the Corporation. The Corporation’s registered agent in Delaware shall be Corporation Service Company, subject to change by the Board of Directors which may by resolution appoint, or change, the Corporation’s registered agent in Delaware in the manner and to the extent permitted by Delaware law. Section 2. Other Offices. The Corporation may also have an office or offices at such other place or places either within or outside the State of Delaware as the Board of Directors may from time to time determine or the business of the Corporation requires.

There is several UPS subsidiaries, the one in Atlanta, the one in Delaware even one in Ohio and New York.

.... and none of them claim to know what each other is doing..plausible deniability.

 

[JR Ewing]

I wish I could have tuned in! What does she do with the dog and pony?

 

[JR Ewing]

He’s back - luv it!

 

[Commercial Inside Release]

Re: incorporating in Delaware

Thousands of companies have incorporated in Delaware, because they have the best laws and business friendly framework. Half of the S&P 500 are incorporated in Delaware. It was especially popular before and during the dot-com boom, which is when UPS incorporated. It doesn't mean their headquarters are really there. They may be required to have a small office, or just an address depending on the law, but probably no real presence there.

This stuff is pervasive throughout corporate America. For another example involving Delaware, as well as South Dakota and Utah, are the usury laws. The majority of consumer credit companies are in those states.

 

[DELACROIX]

Re: incorporating in Delaware

Thousands of companies have incorporated in Delaware, because they have the best laws and business friendly framework. Half of the S&P 500 are incorporated in Delaware. It was especially popular before and during the dot-com boom, which is when UPS incorporated. It doesn't mean their headquarters are really there. They may be required to have a small office, or just an address depending on the law, but probably no real presence there.

This stuff is pervasive throughout corporate America. For another example involving Delaware, as well as South Dakota and Utah, are the usury laws. The majority of consumer credit companies are in those states.

I remember that a group of members decided to sue the Company over their pension. One of the reasons that they lost their case was because their attorney sued the wrong subsidiary.

So many loopholes not enough attorneys willing to try…

 

[freehoodies]

"
Having retired a few days ago after 32 years of service in management with UPS, I can confirm the author’s assertions and provide additional color.

I started my career when UPS was privately held and headquartered in Delaware. After the move to Georgia and subsequent public offering in the late 1990’s, senior leadership began to dedicate an increasing amount of time around social causes (exponential) and “new thinking” around poorly conceived ideas that did not appear to be vetted at scale by operations or business development groups, let alone customers. Many of these decisions included layoffs of management from Operations, Business Development and back-office functions which significantly depleted the ranks of skilled and experienced management that was part of the leadership development pipeline.

Historically, senior management started as hourly employees and experienced a series of cross-functional rotations and promotions to develop acumen. This formed a pool of highly capable management with demonstrated competencies from which individuals would be selected to become senior management in the corporate office. Once the folly of these forays were recognized by senior leadership, many positions previously cut were re-staffed. For those UPS veterans, you may remember self-directed work groups (Empowerment) and business development’s project Emerge. The net result was greater penetration of the UPS customer base by competitors and diminished management capability due to the inexperienced management hired and promoted to restore staffing.

It was during this time that the management pipeline undertook a significant change. No longer would senior management start as hourly employees, the new paradigm would limit traditional career pipelines in favor of hiring management off the street into corporate roles. Many young management would rise within their particular vertical with limited or no experience in the Regions and Districts which comprise the UPS organization. The net result, silo walls became thicker as the layer of management became more senior in the organization; good ideas from the Districts never saw the light of day because off the street management had limited ability to apply context to the ideas; Amazon, FedEx, USPS and regional carriers began to flourish.

Prior to the changes cited above, UPS operated under the Jim Casey triad (same as Jack Ma) of “Customer First, Employee Second, Shareholder Third”. One clarification needed is that as a privately held company, management represented nearly 100% of shareholder ownership. The individual considerations cited above created a seismic shift that damaged moral in the company. It was clear to many long time members of management that UPS senior leadership priorities had changed. Now it was “Customer First, Shareholder Second and Employee Third).

The appointment of a former Home Depot CFO as CEO (Carol Tome) has been a mixed blessing. She is reputed within the company as recognizing the need for change, but unfortunately, the change that has been taking place has resulted in a financial focus rather than a customer focus. I would argue that the senior leadership’s decisions have further restructured the triad to a two legged stool; “Shareholder First, Employee Second (Teamster)”; Management and Customer are afterthoughts. First year business students need look no further than General Motors or Sears. Once you stop focusing on the customer, your business may achieve a financial peak as a result of optimizing your current model, but it will ultimately be downsized to a smaller competitor in the market…and lower net revenues will follow.

Nobody should write UPS off at this time. While I believe the company is headed towards a financial maelstrom, financials are good overall and there plenty of working capital to implement changes (that I believe to be very obvious) to stabilize and grow the customer base and restore healthy parcel margins for UPS. But then, what is obvious to some, is not to others…which is especially problematic when the majority of senior leadership no longer has direct operational or customer experience on their resume.

That said, those in my generation were the last bottom up cross functional rotation developed management and only a few of us worked our way up into the corporate offices and have the insights needed to course correct. I don’t know how many of my generation are left in Atlanta, but every day that passes without a customer-centric course correction increases the probability that UPS will experience a financial kick in the teeth like Boeing or a bankruptcy like GM.

The clock is ticking…"

Right now its shareholder first with customers and employees tied for third.

 

[Brownisbrown]

I havent been laid off yet

 

[UnionStrong]

I havent been laid off yet

 

[Commercial Inside Release]

I havent been laid yet

Fixed!

 

[catstalking]

I wish I could have tuned in! What does she do with the dog and pony?

that depends how many shekels you have to spend

 

[oldngray]

that depends how many shekels you have to spend

You only need 1/2 shekel for the temple tax.

 

[542thruNthru]

Being told by multiple center managers that IE in the buildings will be gone by April.

It's going to be out of corporate now. Don't know how accurate that is.

 

[Thebrownblob]

Being told by multiple center managers that IE in the buildings will be gone by April.

It's going to be out of corporate now. Don't know how accurate that is.

I’ve heard similar, as well as lots of buyouts being offered. Buyout is a little misleading because it sounds more like take it or leave it.

 

[IVE GOTTA PACKAGE 4U]

I’ve heard similar, as well as lots of buyouts being offered. Buyout is a little misleading because it sounds more like take it or leave it.

WDFD

 

[542thruNthru]

WDFD

He's always riding my coat tails!

 

[IVE GOTTA PACKAGE 4U]

He's always riding my coat tails!

He could be from California because he's used to riding something else

 

[Thebrownblob]

WDFD

IKR Eff Em

 

[burrheadd]

Being told by multiple center managers that IE in the buildings will be gone by April.

It's going to be out of corporate now. Don't know how accurate that is.

I heard Mumbai same building as customer service

 

[anonymous23456]

Being told by multiple center managers that IE in the buildings will be gone by April.

It's going to be out of corporate now. Don't know how accurate that is.

I guess UPS will shut down all non-automated sort buildings.

 

[RangerMan06]

I was told last summer that IE will be cut drastically!! Guess it's finally about to happen