UPS says its profit will fall after it reaches a Teamsters deal
UPS says its profit will fall after it reaches a Teamsters deal | CNN Business
UPS’s tentative labor deal with the Teamsters hasn’t even taken effect yet. But it has already taken a bite out of its earnings and revenue, as both fell in the second quarter ahead of the deal being reached.
Fuck it! I don't give a shit. Let its profit fall. Its already making a shit ton of money per year. How about forcing the CEO to take a goddamned pay cut!
If treating your employees correctly causes you to lose money, then your profits weren't real and you were just playing Jenga with your company's assets to line your own pockets.
makes me wonder if this profit thing might be linked to exploiting workers?
…
And?
And stocks fall so people get big mad. Crazy how speculative markets basically rule policy and public opinion.
The headline makes it sound like it was because of the Teamsters deal. Typical liberal ploy. The article summarily points out two factors for lower revenue. 1) Customers that went with competitors to mitigate risk in case of a strike and 2) lower volume of sales due to shift in consumer spending habits toward "travel, movies, eating out and live events"
And if you thought there was any reason to be nervous about anything, no. It's truly business as usual.
Despite the lower revenue and earnings guidance, the company said it expects to stick with its plan to pay $5.4 billion in dividends and repurchases of $3 billion in shares.
🙄
What makes it a liberal ploy exactly? Like I agree with everything you said, but I'm not sure what context the word "liberal" in your sentence means or is referring to.
Liberal in this context refers to economic liberalism. Ostensibly for free market competition, (but in practice just a political deference to capitalists in opposition to labor or other social goods) it is the ideological backbone of capitalism.
In the US, while “liberal” is colloquially used to describe the Democratic Party for its relative social progressivism, both major political parties follow economic liberalism to justify their policies which favor the rich.
A liberal will side with capital over labor. Therefore, in this context, a liberal will use language that frames the shift in surplus value from corporate profits to labor as a total loss to the economy rather than just to the company.
Literally the 2nd to last sentence of the article. Talk about burying the damn lede.
I mean, even without revenue decreasing, profits are going to "decrease" because money that will go to increased pay and benefits to workers would otherwise go to greater profits. So even leaving out the fearmongering about lost revenue, the title and significant parts of the article (about profits and margins) is taking the liberal path of calling it a bad thing due to sympathy with capitalists instead of workers.
So yeah: how about a fuck you UPS, and a fuck you CNN. Nothing new, but always bears repeating.
Yeah, good. OK.
stealing surplus value from workers is [checks-notes] more difficult when the workers organize
Boo friggen hoo
You mean a company that's seen wild growth in the Amazon era is passing some growth onto the workers???? Boo fucking hoo cry me a river.
That's the idea, yeah.
The union agreement actually helps profit, because the union would strike if the terms were worse. You can't claim that your bad offer that got rejected is lost profit.
Yes.
With this sort of insight, it's obvious that management doesn't deserve the money it earns.
What they are not saying is that in the long term UPS profits will rise. Their workers will be secure in their jobs. They will be excited about helping UPS succeed. They will innovate. Shareholders should be celebrating, but they are just as dim as UPS management and only understand success as making more money every quarter even if that means ruining labor and hollowing out the company.
Penny Smart Dollar dumb.
Good.
once again the union leaders are capitulating to the powerful instead of striking. they should elect new leadership and strike.
Good. It's about time they learned to share.
They scammed me out of 60 euros on a 150 euro order (calculating shipping into final cost to calculate customs, something that should be illegal) I hope they go into destitution.
Or even better, the CEO should be (redacted) and the company should be expropriated by the workers
It might vary by country, but in Germany this is how it works, customs fees are paid on the whole value including shipping costs. They are merely forwarding the money paid to customs, so they definitely weren't scamming you.
I know but I feel it should be illegal, there are many things that cost up to 100€ to transport, plus I feel like they slapped some fees on top, because (after paying vat) I dont think customs is almost 70€ on a 150€ product, half of the price basically
If you're company isn't profitable enough that it has to underpay its workers to profit then your company should fail. UPS is huge. Theres no way they cant afford it.
Pay your workers a decent wage you philistine.
How much do you think they're paying them? I worked for UPS like 10 years ago and even then they were paying very high wages. "Decent" wage is a subjective term. These unions will keep coming after the company year after year to increase wages until they drive them out of business, which isn't good for anyone.
Bootlicking like it's an Olympic sport
Mechanics make very good money with ups because of the union. This specific negotiation was for part time workers and drivers, negotiating higher base pay for all part timers and drivers, AC in drivers trucks, and better benefits.
The contract for mechanics and pilots will largely remain the same because again, these are some of the more lucrative jobs at ups.
The union ceases to exist without the companies that have unionized. What you are saying is antithetical to the idea and nature of a union.
The CEO of ups made $19 million last year. I think they can afford to pay her less and their actual workers more.
What was your position at UPS?
I heard with the new deal they will be paid $170k including benefits. That’s a lot of money.