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UPS says its profit will fall after it reaches a Teamsters deal (edition.cnn.com)

submitted 1 year ago by [email protected] to c/[email protected]

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UPS’s tentative labor deal with the Teamsters hasn’t even taken effect yet. But it has already taken a bite out of its earnings and revenue, as both fell in the second quarter ahead of the deal being reached.

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[–] [email protected] 31 points 1 year ago* (last edited 1 year ago) (3 children)

The headline makes it sound like it was because of the Teamsters deal. Typical liberal ploy. The article summarily points out two factors for lower revenue. 1) Customers that went with competitors to mitigate risk in case of a strike and 2) lower volume of sales due to shift in consumer spending habits toward "travel, movies, eating out and live events"

And if you thought there was any reason to be nervous about anything, no. It's truly business as usual.

Despite the lower revenue and earnings guidance, the company said it expects to stick with its plan to pay $5.4 billion in dividends and repurchases of $3 billion in shares.

🙄

[–] [email protected] 16 points 1 year ago (2 children)

What makes it a liberal ploy exactly? Like I agree with everything you said, but I'm not sure what context the word "liberal" in your sentence means or is referring to.

[–] [email protected] 19 points 1 year ago (1 children)

Liberal in this context refers to economic liberalism. Ostensibly for free market competition, (but in practice just a political deference to capitalists in opposition to labor or other social goods) it is the ideological backbone of capitalism.

In the US, while “liberal” is colloquially used to describe the Democratic Party for its relative social progressivism, both major political parties follow economic liberalism to justify their policies which favor the rich.

A liberal will side with capital over labor. Therefore, in this context, a liberal will use language that frames the shift in surplus value from corporate profits to labor as a total loss to the economy rather than just to the company.

[–] [email protected] 7 points 1 year ago

Makes sense, and you are right about where my brain went to. I was thinking this just sounds like capitalist bull shit, lol.

[–] [email protected] 9 points 1 year ago

Literally the 2nd to last sentence of the article. Talk about burying the damn lede.

[–] [email protected] 4 points 1 year ago

I mean, even without revenue decreasing, profits are going to "decrease" because money that will go to increased pay and benefits to workers would otherwise go to greater profits. So even leaving out the fearmongering about lost revenue, the title and significant parts of the article (about profits and margins) is taking the liberal path of calling it a bad thing due to sympathy with capitalists instead of workers.

So yeah: how about a fuck you UPS, and a fuck you CNN. Nothing new, but always bears repeating.