UPS has set aside a considerable sum of money for share purchase buybacks. I'd like to think that with shares trading at an all-time high management would determine the timing is not right to buy what may be somewhat overvalued shares in any iffy economic environment to sat y the least. When the Fed decide to curtail its bond buying activity, nearly all economists foresee a correction of somewhere in the neighborhood of 10-20%. This won't effect all stocks across the board but those in the S&P 500 will certainly be impacted by the mutual fund and ETF considerations. At the first sign of a pullback, active traders and institutions will try to preserve their gains and resort to cash positions. If shares were to drop down to the mid-$80's or so then buying shares might be a more reasonable approach. If they never do, my preference would be to deploy the cash towards pension payments, I guess what I'm saying is I'd rather see UPS decide to pay down debt obligations, make contributions to the pension plans, convert more vehicles to natural gas and perhaps identify and purchase more strategic acquisitions than to simply buy shares at an inappropriate time. Thoughts?