UPS Teamsters Approve National Master Agreement

Almost a year early, UPS Teamsters have approved a contract that will take effect August. It is a strong contract in that it provides for the pensions and retirement packages of before Central States' Perfect Storm. UPS has bragged to it's part timers that the health insurance coverage will improve.

The raises for part timers will be $4 over 5 years per hour plus COLAs. I hope the COLAs reflect reality - which I don't think they have. The co-pays on the insurance return to $10 and I hear the drug coverage will get better (it needs too!).

There are disadvantages... but Central States will receive $6.1 Billion in cash and UPSer's retirements are protected.

Hey Big Money! Buy me a pop? Take me golfing sometime pensioner?

Ought to be a really good day for stockholders tomorrow. I am assuming this information is new and didn't make it out before close today when we lost $0.43 a share.