Did UPS 'Pants' the Teamsters?

July 29, 2008: In the quote of the week, a CNBC host told viewers that UPS “pantsed” and “pummeled” the Teamsters in the new contract.

Here is what Jim Cramer, the host of Mad Money on CNBC, had to say:

“The company got a new labor agreement with the Teamsters, effective August 1, that will let UPS pay new drivers less than it does veterans. This is a classic example of a union hosing people who aren’t members yet, and one that could save UPS $640 million over the next five years.

“I cannot overemphasize the importance of this contract to UPS. Personally, of course, I love unions. But professionally, I love companies that have crushed unions. And UPS, you know what they just did? They pantsed the Teamsters! Jimmy Hoffa must be rolling over in his Giants Stadium grave!’”

Click here to watch the video of Cramer on Mad Money. Fast forward to the six-minute mark to hear Cramer go off on the givebacks negotiated by Jim Hoffa and Ken Hall.

Click here to read the full story at www.MakeUPSDeliver.org

Get Advice Join TDU Donate

Recent News

Costco Teamsters: Vote No!

Costco Teamsters were mailed ballots on May 20th to vote on a substandard contract offer. Teamster members and the National Negotiating Committee agree: members need to get informed, talk with other Teamsters, and Vote No on this slap in the face. 

Yellow Trims Losses: Best Quarter in Six Years

Yellow Corporation released its first quarter financials on May 10. The company shows strong improvement but is still not profitable. Yellow’s overall operating ratio of 99.3 percent is 3 percent better than a year ago, but well below other LTL carriers, including ABF and TForce.

 

View More News Posts