Coronavirus Relief Bill
 

4 billion allocated for cargo airlines - I’m unsure if that is in the form of a grants or loans (or a mixture of the two). Any speculation as to whether or not UPS will take any money? I originally thought they would as a signatory on the ask letter, but I’m not so sure as details on the emerge in the strings attached. Would UPS limit executive pay, give up equity, or stop paying dividends to get a cash bump that they don’t necessarily need (as of now)? I certainly don’t have a lot of the details so just curious as to what people smarter than me think.

$4 billion in grants and another $4 billion in loans avail

Why should the cargo industry receive money when they are still thriving? I thought the point was to keep businesses afloat who would fail otherwise.

Better to have money specifically allocated and not need/use it, than need it and not have any allocated?

Cargo is doing well today...but who knows what will happen in 2 months.

Depth and length of the inevitable recession is my biggest concern...the longer this drags on, the longer and more painful the backside will be as the economic damage will be greater, more jobs lost, and more consumer spending slashed meaning fewer goods to move.

Very true! We are OK now, but things will probably not be as good in the long run.

We're doing well, is Atlas? Others?

If the no furloughs provision applies to all 495,000 UPSers, I could see management turning down any government help.

If there was a ‘furlough=no-bonus’ provision our jobs would’ve been safe.