May 22, 2012: UPS made just under a billion dollars in the first quarter of 2012. Brown reported profits of $970 million for the first three months of the year, up 6 percent from last year.
Who delivered most of these profits? Working Teamsters, that's who. UPS's domestic revenue was up 6.1 percent. UPS's International operations grew at a slow pace, just 2.3 percent, disappointing analysts.
UPS made $4.2 billion in profits after taxes in 2011. Profits may top $5 billion this year.
"I hope they make $10 billion," Ken Hall, the International Union's chief negotiator at UPS, told delegates at the Teamster Convention. "Because the more they make, the more we take when it comes to negotiations."
Theoretically, that should be true. But UPS was making record profits in 2008 when the International Union gave away record concessions, then failed to enforce the contract since then.