UPS posts loss on pension charge

[RedDogC130]

http://www.reuters.com/article/marketsNews/idUKN3017041020080130?rpc=44

Does this sound weird for UPS...Am I missing something?

 

[j41driver]

$6.1B "pension related" charge?!? That's some serious coin.

 

[jke406]

$6.1B "pension related" charge?!? That's some serious coin.

then it must be for the executives' pensions.

 

[Stan]

http://www.reuters.com/article/marketsNews/idUKN3017041020080130?rpc=44

Does this sound weird for UPS...Am I missing something?

They bought themselves out of a multi employer teamsters plan. It cost a bunch up front but should save them money over time.

 

[1800 RVR]

http://www.reuters.com/article/marketsNews/idUKN3017041020080130?rpc=44

Does this sound weird for UPS...Am I missing something?

As Stan stated, this is a one-time charge taken to get out of the previous pension plan. Outside of this charge, all numbers were up YOY. Stock was up today, and analysts still expect good things from UPS. They all realize that this is a one-quarter thing, the Teamster contract is a good thing for drivers as well as UPS corporate, and that looking beyond this one-time charge, we are in a good position to take advantage of troubles at DHL and FedEx.

 

[BOYCAPTAIN]

troubles???? you mean us opening 2 new domiciles to continue our world domination! what troubles???

 

[1800 RVR]

troubles???? you mean us opening 2 new domiciles to continue our world domination! what troubles???

By "troubles", I was talking about the battle with the IRS. The LOA for the foreign domiciles is a whole 'nuther issue...