Teamster News

UPS' Second-Quarter Net Income Rises to $1.23 Billion

Transport Topics

UPS Inc. posted second-quarter net income of $1.23 billion, or $1.35 per share, helped by stronger results in the international sector. The results represented a 9.9% increase over last year’s second quarter, when net income was $1.11 million, or $1.21, excluding a $665 million charge for pension-related costs. Revenue dipped 1.2% to $14.1 billion, affected by fuel surcharge and currency factors.

Central States to Propose Cuts August 31?

July 28, 2015: The Central States Pension Fund (CSPF) Trustees have sent a letter to the US Department of Treasury stating that they want to propose their “rescue plan” pension cuts on or about August 31.

Judge says 2014 Chicago pension overhaul unconstitutional

Daily Chronicle

A Cook County judge on Friday threw out a 2014 law aimed at reducing multibillion-dollar shortfalls in two Chicago pension funds, a decision city officials have said could leave the retirement accounts insolvent in a little more than a decade or lead to massive tax increases.

UPS Makes Collision-Mitigation Technology Standard on Class 8 Tractors It Orders

Transport Topics

UPS Inc. announced it is making collision-mitigation technology from Bendix Commercial Vehicle Systems standard equipment on every Class 8 tractor the company orders. Atlanta-based UPS plans to take delivery of more than 2,600 new tractors this year. The technology includes lane-departure warnings, electronic stability control and air disc brakes. The systems also can alert drivers to objects in front of the tractor and to moving objects around the vehicle.

Teamsters, without a contract for last year-and-a-half, go on strike Thursday

Belleville News-Democrat

Some local construction sites may not be receiving concrete Thursday after about 80 metro-east laborers went on strike Thursday morning.

The Teamsters Union Local 50 in Swansea announced the work stoppage after members had been delivering ready-mix concrete while working without a contract for the past year and a half. Union president Scott Alexander said the laborers were no closer to a settlement over their wages, pension and health care benefits.

Lockheed to Buy Teamster-Employer Sikorsky

The New York Times

Lockheed Martin said on Monday that it would buy Sikorsky Aircraft, the maker of the Black Hawk helicopters favored by the United States military, from United Technologies Corporation for $9 billion in cash.