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Are You High? Vol. Ii

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Any one claim they didn't know CSPF was going broke must be high. UPS told the world in 1997, CSPF was going broke and they wanted their employees out. They endured a disastrous two week strike to make that point. AT the end of 2007, UPS paid 6.1 billion to leave the failing CSPF. If that didn't set off alarm bells, you must be high. A half a dozen, Teamster funds have gone insolvent, or had their benefits cut under MPRA. If you still think the reason CSPF went broke is. Mismanagement by the federal government, and evil wall street bankers, you must be high. You must be high if you think congress is going to bailout CSPF, that includes congressional democrats. Call Chuck and Nancy, have them put some lip stick on that pig, "Grassley, Alexander", attach it to "bailout IV".
 
Bubba Gump said:
Any one claim they didn't know CSPF was going broke must be high. UPS told the world in 1997, CSPF was going broke and they wanted their employees out. They endured a disastrous two week strike to make that point. AT the end of 2007, UPS paid 6.1 billion to leave the failing CSPF. If that didn't set off alarm bells, you must be high. A half a dozen, Teamster funds have gone insolvent, or had their benefits cut under MPRA. If you still think the reason CSPF went broke is. Mismanagement by the federal government, and evil wall street bankers, you must be high. You must be high if you think congress is going to bailout CSPF, that includes congressional democrats. Call Chuck and Nancy, have them put some lip stick on that pig, "Grassley, Alexander", attach it to "bailout IV".
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UPS wanted out of Central States because they felt like they were paying to keep freight orphans afloat. I personally had it figured out before the 2004 changes that were made.By the way the dollar amount UPS paid to get out of CSPF was less than half of their unfunded liabilities. One thing is going to happen is UPS will get back in, because if CFPF becomes insolvent.UPS will have to pay the share of their retirees pensions that was previously being paid by CSPF. I'm not high but it might make sense of some of the right wing B.S. on this site.
 
816cliff said:
UPS wanted out of Central States because they felt like they were paying to keep freight orphans afloat. I personally had it figured out before the 2004 changes that were made.By the way the dollar amount UPS paid to get out of CSPF was less than half of their unfunded liabilities. One thing is going to happen is UPS will get back in, because if CFPF becomes insolvent.UPS will have to pay the share of their retirees pensions that was previously being paid by CSPF. I'm not high but it might make sense of some of the right wing B.S. on this site.
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UPS is never getting back into Central States. That’s a fact. Central state is going bankrupt weather UPS came back into it or not. Why would UPS want to pay for another 20 years on a pension that is bankrupt? That would be the dumbest possible thing they ever did.
 
SAC75 said:
UPS is never getting back into Central States. That’s a fact. Central state is going bankrupt weather UPS came back into it or not. Why would UPS want to pay for another 20 years on a pension that is bankrupt? That would be the dumbest possible thing they ever did.
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Would You like to make a sporting proposition on that?
 
816cliff said:
Would You like to make a sporting proposition on that?
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816cliff said:
UPS wanted out of Central States because they felt like they were paying to keep freight orphans afloat. I personally had it figured out before the 2004 changes that were made.By the way the dollar amount UPS paid to get out of CSPF was less than half of their unfunded liabilities. One thing is going to happen is UPS will get back in, because if CFPF becomes insolvent.UPS will have to pay the share of their retirees pensions that was previously being paid by CSPF. I'm not high but it might make sense of some of the right wing B.S. on this site.
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816cliff said:
UPS wanted out of Central States because they felt like they were paying to keep freight orphans afloat. I personally had it figured out before the 2004 changes that were made.By the way the dollar amount UPS paid to get out of CSPF was less than half of their unfunded liabilities. One thing is going to happen is UPS will get back in, because if CFPF becomes insolvent.UPS will have to pay the share of their retirees pensions that was previously being paid by CSPF. I'm not high but it might make sense of some of the right wing B.S. on this site.
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That is an outrageous claim you are making "less than half of their unfunded liabilities". That would mean the U.S.TREASURY DEPT. made an over 100% error in the calculated amount of UPS's withdraw liability. You would have thought JOE, OBAMA, and ERIC would have prosecuted those corrupt TREASURY officials. Then again JOE, OBAMA and ERIC were busy prosecuting, corrupt WALL ST. bankers at that time. HA! HA! good joke! UPS did get off cheap with the 6.1 billion withdraw penalty, the cost of funding a new single employer pension fund, paying the cost of early retirements from CSPF and guaranteeing loss of pension from CSPF future insolvency. The alternative would have been paying the massive pension funding increases mandated by the PENSION PROTECTION ACT of 2006. Double the pension payment to CSPF, for a 64.25% reduction of benefits in 2025. After that pennies on the dollar when PGBC goes bankrupt. Better call NANCY and CHUCK, pass GRASSLEY, ALEXANDER.
 
816cliff said:
Would You like to make a sporting proposition on that?
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Don’t need too. You are retarded to think you would win the bet. Ups only has to pay in on people that retired after 2008. Everyone else is screwed. And they pay up to 2 billion and they are done. There is a cap.
 
SAC75 said:
UPS is never getting back into Central States. That’s a fact. Central state is going bankrupt weather UPS came back into it or not. Why would UPS want to pay for another 20 years on a pension that is bankrupt? That would be the dumbest possible thing they ever did.
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How would You like to make a wager on that?
 
SAC75 said:
Again you’re retarded to think otherwise. Sorry you think I’m going to make a bet. Never going to happen.
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You people just keep on drinking that Kool-Aid and smoking whatever it is You smoke. See You on the big rock candy mountain.
 
816cliff said:
UPS wanted out of Central States because they felt like they were paying to keep freight orphans afloat. I personally had it figured out before the 2004 changes that were made.By the way the dollar amount UPS paid to get out of CSPF was less than half of their unfunded liabilities. One thing is going to happen is UPS will get back in, because if CFPF becomes insolvent.UPS will have to pay the share of their retirees pensions that was previously being paid by CSPF. I'm not high but it might make sense of some of the right wing B.S. on this site.
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From Akron to Duluth, the same myth is spouted off at retirees meetings. "by the way the dollar amount UPS paid to get out CSPF was less than half of their unfunded liabilities". They didn't mind their pensions accruals using 8% interest, but they sure are pissed off UPS's withdraw liability wasn't calculated using a 3.28% interest rate.
 
Strange how CSPF went from having 30 billion to 55 billion in liabilities in 12 years. They must have changed the discount rate they used in their calculations!
 
816cliff said:
You are absolutely correct. You have no idea what I'm talking about, and nothing of what You're talking about either!
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Go cry to someone who cares. UPS is never going back into central states period. If you’re dumb enough to believe they are then you’re too stupid to talk to.
 
Bubba Gump said:
That is an outrageous claim you are making "less than half of their unfunded liabilities". That would mean the U.S.TREASURY DEPT. made an over 100% error in the calculated amount of UPS's withdraw liability. You would have thought JOE, OBAMA, and ERIC would have prosecuted those corrupt TREASURY officials. Then again JOE, OBAMA and ERIC were busy prosecuting, corrupt WALL ST. bankers at that time. HA! HA! good joke! UPS did get off cheap with the 6.1 billion withdraw penalty, the cost of funding a new single employer pension fund, paying the cost of early retirements from CSPF and guaranteeing loss of pension from CSPF future insolvency. The alternative would have been paying the massive pension funding increases mandated by the PENSION PROTECTION ACT of 2006. Double the pension payment to CSPF, for a 64.25% reduction of benefits in 2025. After that pennies on the dollar when PGBC goes bankrupt. Better call NANCY and CHUCK, pass GRASSLEY, ALEXANDER.
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The amount that UPS paid to withdraw from CSPF was negotiated with the fund and of course the IBT. They both laid down for UPS and stuck it to the membership. Why, I don't know but I do have an opinion!
 
816cliff said:
The amount that UPS paid to withdraw from CSPF was negotiated with the fund and of course the IBT. They both laid down for UPS and stuck it to the membership. Why, I don't know but I do have an opinion!
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I think it's special, you think you are entitled to any portion of a UPS Teamsters, wages or benefits. As a new retiree you can rest assured I won't be getting any benefit from CSPF. For the next 7 years the IBT/UPS pension fund will pay for CSPF's share of my pension. When I turn 65, CSPF starts paying it's share of my pension. You have to chuckle, by then there won't be a dime left in CSPF, OOP's. The PBGC will be bankrupt, unable to pay it's share. UPS will then have to pay for my CSPF pension a third time. 1st time weekly contributions, 2nd time withdraw penalty, 3rd time when CSPF, PBGC goes bankrupt. That is one expensive pension, no money left over for 816cliff, sorry.
 
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