UPS Chairman Scott Davis’ total comp reduced to $10.3M

[Catatonic]

From the article: "The difference was due mostly to a big drop in his pension value, which went form $1.4 million in 2012 to zero in 2013."

What's the story with the reduction in pension value?

After 35 years with the company, UPS no longer contributes to an employee's pension.

 

[bluebiker]

UPS Chairman Scott Davis’ total comp reduced to $10.3M - Atlanta Business Chronicle

United Parcel Service Inc. Chairman and CEO Scott Davis took a 15 percent cut to his total compensation in 2013, the same year the package shipping and logistics giant’s profit plunged nearly 82 percent.

• Chief Financial Officer Kurt Kuehn’s total comp shrunk about 20 percent to $2.75 million.
• Chief Operating Officer David Abney’s total comp dropped 24 percent to $4.08 million.

Guess they're going to have to cut down to only 1 new Roll-Royce this year. Oh the humanity!!!!

Let's see, a 1 yr pay cut equivalent to more than most people make in a lifetime. Hard to find sympathy for these guys.

 

[upschuck]

UPS Chairman Scott Davis’ total comp reduced to $10.3M - Atlanta Business Chronicle

United Parcel Service Inc. Chairman and CEO Scott Davis took a 15 percent cut to his total compensation in 2013, the same year the package shipping and logistics giant’s profit plunged nearly 82 percent.

• Chief Financial Officer Kurt Kuehn’s total comp shrunk about 20 percent to $2.75 million.
• Chief Operating Officer David Abney’s total comp dropped 24 percent to $4.08 million.

How can UPS make record profits and profits plunge 82% at the same time? If UPS profit for 2013 was 4.4 billion in 2013 that would mean in 2012 profits were 24.4 billion which didn't happen. Someone has been playing with the numbers again.

 

[SignificantOwner]

Maybe if they didn't hire people right out of rehab clinics during peak season we would have made more profit.
What's next, next year having them hire helpers out of homeless camps

You can't hold him accountable for peak. According to Bloomberg his compensation is only 300 times that of the average UPSer.

 

[IVE GOTTA PACKAGE 4U]

You can't hold him accountable for peak. According to Bloomberg his compensation is only 300 times that of the average UPSer.

The only money he lost, was kick back money, to Hoffa....for this POS...sellout contract!.....end of story!