UPS Profits
UPS Profits Up Again
UPS made just under a billion dollars in the first quarter of 2012. Brown reported profits of $970 million for the first three months of the year, up 6 percent from last year.
Who delivered most of these profits? Working Teamsters, that’s who. UPS’s domestic revenue was up 6.1 percent. UPS’s International operations grew at a slow pace, just 2.3 percent, disappointing analysts.
Volume is up, but instead of meaning more Teamster driving jobs, it has meant excessive loads and production harassment.
E-commerce packages are increasingly being subcontracted to the post office—another drain on full-time job creation.
UPS made $4.2 billion in profits after taxes in 2011 Profits could top $5 billion this year.
“I hope they make $10 billion,” Ken Hall, the International Union’s chief negotiator at UPS, told delegates at the Teamster Convention. “Because the more they make, the more we take when it comes to negotiations.”
Theoretically, that should be true. But UPS was making record profits in 2008 when the International Union gave away record concessions, then failed to enforce the contract since then.
UPS Teamsters are getting together to Make UPS Deliver a fair contract—with no givebacks. Click here to find out more about the Make UPS Deliver campaign.
Brown’s CEO Gets $2.3 Million Pay Hike
United Parcel Service CEO Scott Davis got a whopping 21.62 percent raise to $13.05 million last year according to a company filing with the SEC.
Davis made $10.73 million in 2010 bringing the hike in his total compensation to $2.3 million.
Davis was paid a base salary of $1.02 million, $9.45 million in shares, stock options worth $450,807, and a $566,996 bonus. Davis also got $1.51 million via an increase in the value of his pension and deferred compensation.
Higher pay, increased pensions? We need to make UPS deliver the same for working Teamsters at contract time.
Global UPS Demands Global Unionism
UPS just made its biggest acquisition ever, buying TNT Express for $6.8 billion. With contract negotiations on the way, the UPS-TNT deal makes it more important for the Teamsters to coordinate with unions on a global scale.
UPS to Buy TNT Express for $6.77 Billion
United Parcel Service Inc. said Monday it has agreed to buy TNT Express NV for $6.77 billion (€5.16 billion) in a deal supported by TNT’s boards.
UPS’s cash offer of €9.5 ($12.51) per share for TNT — Europe’s second-largest express delivery company behind DHL — comes a month after TNT management turned down a €9 per share offer. The companies remained in talks, assisted by a strengthening dollar.
Click here to read more from the Associated Press.
UPS Profits Up Again
The economy made be down but UPS’s profits continue to go up.
Company execs announced that UPS made $1.04 Billion in profits in the third quarter. Brown’s profits increased by 5 percent compared to the third quarter last year and by 89 percent over its third quarter profits in 2009.
UPS Exec Brags About Low Wage Increases for Teamsters
UPS Chief Financial Officer Kurt Kuehn bragged to investors that UPS Teamsters will continue to get “below-inflation increases in wages” under the concessionary contract negotiated by Hoffa and Hall in 2008.
UPS 2Q Profits up 26%
UPS made $1.06 Billion in profits after taxes from April to June this year. That’s an increase of 26 percent (or more than $150 million) over the $845 million in profits the company made during the same period last year.
UPS Profits Up 66 Percent
UPS executives announced that the company hauled in $885 million in profits after taxes in the first quarter of 2011. That’s a 66 percent increase from the $533 million in profits Brown made in the first quarter of 2010. Revenue jumped 7 percent to $12.58 billion. Read the rest …
UPS Profits Soar to $5.8 Billion
UPS profits soared to $5.8 billion after taxes in 2010, the company announced on Feb. 1. Brown’s profits hit $1.8 billion for the fourth quarter, including peak. In all, the company had $49.8 billion of revenue for the year.
The corporation’s profits went up much faster than its revenue—a 48 percent increase in profits, compared to an 8 percent rise in revenue. Why? Because UPS is squeezing more profit out of each employee by cutting and combining routes, layoffs, production harassment, supervisors working, 9.5 violations.
UPS Third Quarter Profits
UPS executives announced the company made $991 million in the third quarter. Brown’s profits increased by more than 80 percent compared to the third quarter last year. That’s $442 million more in profits—after taxes.
Read the rest …
2010 Second Quarter Profits Nearly Double
August 2010: Profits are skyrocketing at UPS while working conditions continue to bottom out.
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UPS Profits Up 33 Percent
UPS executives announced that the company hauled in $533 million in profits after taxes in the first quarter of 2010. Brown’s profits are up by 33 percent or $132 million compared to the first quarter last year.
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UPS CEO Compensation—$6.24 Million
Scott Davis, the chairman and chief executive officer of UPS, was paid a whopping $6.24 million last year.
The figure is actually slightly down from the $6.28 million Davis bagged in 2008. But don’t feel too bad for Brown’s CEO. Davis’s pay more than doubled in 2008, going from $2.6 million to $6.28 million, a 141 percent increase! (This is the same year UPS Teamsters got a 35 cent raise.) Read the rest …
Management Pay Freeze Over in 2010
UPS announced that it will end its freeze on salary increases for management.
UPS spokesperson Norman Black told the Wall Street Journal that management employees can get salary increases this year because of signs that the economy is improving. But the Wall Street Journal reports that managers will have to “achieve various performance benchmarks” to get them.
Performance benchmarks? Could this mean even more production harassment and speedup for working Teamsters? It’s time for the International Union to do something about protecting Teamster members. Read the rest …
UPS Profits Tripled in Fourth Quarter
UPS raked in $757 million in profits in the Fourth Quarter—nearly tripling its profits over the same period last year. Overall, Brown made $2.15 billion in profits in 2009. That’s after taxes.
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