Now that the board of directors & hedge fund guys are done w/ pulling every dirty trick to raise the stock in the short term our union is telling us they being offered UP stock instead of a pay raise? We can buy stock when we want to on our own, for those or us still here working we deserve a huge MEANINGFUL increase in our hourly wage and better health insurance with lower co-pays and lower deductibles.
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Where was this years ago when employees asked the CEO in town halls for some sort of stock purchase plan? Now the price is over-inflated, mostly due to stock buybacks, and they want to sell it to you at a premium. GFY. Has anyone looked to see what it costs to sell your shares through this program? If you want UP stock, get an investment account and buy it on your own where you can trade in and out of it whenever you want without hefty fees, holding agreements, etc.
It's funny that people are still pushing the contractor scenario, even though most or all contractors are simply not physically capable of taking over operations at a class 1. Even if they try, then how well do you think it'll run? The stock purchasing idea is a great idea. Just make sure you read the fine print on anything they give you. The company is sketchy enough as it is. For all you know is that you're giving them bail-out money for later use.
Parsec and ITS conglobal are going to be
to be the the new scab operation that will load and operate the trains for the stUPid, with brand new, fresh over the borders and willing to work for American citizen ship and some pumped up shares from the America's worst Railroad.
Some people keep threatening contractors if agreement employees do not just accept whatever the carrier offers. Where are all these trained, qualified, skilled contractors? I once worked for a railroad contractor, the turnover rate is astronomical! Thats with the low level type of people who work for these contractors that most cant pass a dr-g test nor perform any quality work. For the managers that think UP employees are bad or unproductive are delusional. There are no capable contractors ready to take over, in any sort or meaningful, full time capacity. If railroads think they wont have to worry about anything cuz the contractor will be responsible? Hahaha, the entire railroad infrastructure is in terrible condition and getting worse, contractors wont be held responsible. The public & govt will blame the railroads for any and all accidents.
Union Pacific is a POS rip off operation.
I hope the Feds take over and run the place soon and rid the place of the garbage Mgt.
When the wages go up. More work gets contracted out. So who wins.
Bu-----t! They the company are offering nothing! Not sure what dream you had du----s! The union's have both said there is nothing worth negotiating on the table at all. So take your day dream company suck self and have a hotdog with Mike Ockballs.
Better off giving it to a homeless person.
This is a terrible idea, Our company is way overvalued right now, we have taken on 29 billion in debt to do stock buybacks
It sounds like it might be a stock option type incentive. WorldCom had something similar and there is a reason WorldCom is no longer. The scheme went like this, every quarter WorldCom would give us something like 250 shares of stock at the current share price which were unable to be exercised for 2 years. If the stock was going at $50/share, when the option matured, anything over $50 dollars we got to keep. The problem was that WorldCom's stock was on a slow slide so the stock options were essentially worthless.
What the stock option did was keep the shares of stock moving giving the illusion that WorldCom was a hot commodity and artificially propping up the stock price. In reality I don't recall anyone ever able to cash in on their stock options and for the average working person at WorldCom, they so no benefit whatsoever. Between the media hyping up UP's stock price and this stock giveaway, it would give me an uneasy feeling about the company's long term health.
Good luck getting any pay raise much less a huge one. UP will not stop cutting with implementing PSR. They are going to look at everything including benefits and pay. When this plays out look for more contractors. These large corporations HATE their employees. They look at us as the enemy and will do whatever possible to have as few employees as possible (that goes for managers also, the upper management considers them a necessary evil). Those that have expectations of better things from this or any other railroad will be very disappointed.
No more meat left on the bone to pick, so now the agreement employees can buy stock ! Geeez, another money making scheme to rob the employees of money, the up knows the psr scheme has run its course! And now it’s rob Peter to pay Paul! Phuuuuck that, we need a contract with $$$ value and upgraded health care, and give everyone who is agreement a 3 day sick leave, paid ! no questions asked , my god Union Pacific it’s the 21st century! GET WITH THE TIMES U.P! Family oriented my freckled aaassss!