Loss of USPS contract…
04-01-2024, 01:52 PM
#31
Line Holder
Joined APC: Mar 2024
Posts: 53
Problem is if you understand accounting, the money spent on stock buybacks would never be paid to us anyway. It’s not a great argument. What’s our profit margin compared to UPS?
04-01-2024, 02:24 PM
#33
Gets Weekends Off
Joined APC: Sep 2006
Posts: 113
It’s federal law. Postal Reform Act of 2022. UPS will probably lose money on whatever deal they’ve made. We were these last couple years. None of this has been a secret. The good thing about financial reports is that they are carefully regulated and required to be accurate. Major penalties for lying in quarterly reports. But they actually take time to read, and aren’t nearly as interesting as Facebook apparently. So here we are.
04-01-2024, 02:35 PM
#35
Gets Weekends Off
Joined APC: Dec 2006
Posts: 2,089
04-01-2024, 03:31 PM
#37
Gets Weekends Off
Joined APC: Aug 2019
Posts: 1,064
Its time to drop the A plan bump. $39K a year is worthless. If thats all the company will offer, then the gains need to be made in other areas. If you have been at FX for 25 years to get the FAE for the A plan, you've made enough in the DC to retire with millions. Also, if you defer your pension past 60, you end up with more than 130K/yr. The problem is, what instrument are you going to use to replace the penson? The pension which is great for guys who have been at FX for decades is no longer the same benefit to anyone new or a hire in the past 10 years. There is no monitery answer.
04-01-2024, 03:48 PM
#38
Line Holder
Thread Starter
Joined APC: Aug 2015
Position: Counting down the bid packs
Posts: 97
As to the next part of your comment, it doesn't really matter what you are buying, but it sounds very reminiscent of United's "Full Pay to the Last Day" mantra. Right before they lost their pension...and took a decade plus to catch back up to the rest of the industry.
04-01-2024, 04:29 PM
#39
Gets Weekends Off
Joined APC: Jan 2017
Posts: 275
Our uphill battle for a new contract just got substantially steeper with the news today.
https://www.cnbc.com/2024/04/01/ups-...ing-fedex.html
https://www.cnbc.com/2024/04/01/ups-...ing-fedex.html
Across those financial quarters, most Postal comments at the earnings calls leaned towards postal contract=headwinds. They also stated that they are actively doing things to mitigate those headwinds.
This will buff out, give it time to play out.
Read MEC Chair letter!
04-01-2024, 05:19 PM
#40
Gets Weekends Off
Joined APC: Aug 2012
Posts: 700
It has not. The company has been telegraphing that the Postal Contract has been a financial drag and not profitable enough for several quarters. This was always a very real possibility and now it is confirmed.
Across those financial quarters, most Postal comments at the earnings calls leaned towards postal contract=headwinds. They also stated that they are actively doing things to mitigate those headwinds.
This will buff out, give it time to play out.
Read MEC Chair letter!
Across those financial quarters, most Postal comments at the earnings calls leaned towards postal contract=headwinds. They also stated that they are actively doing things to mitigate those headwinds.
This will buff out, give it time to play out.
Read MEC Chair letter!
https://www.usatoday.com/story/money...es/1942569001/
Thread
Thread Starter
Forum
Replies
Last Post
