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Anger show me where you said what would happen if we went into administration or is it a figment of your imagination. Just like when you said the share price could reach 7 pounds you clown
Best head back soon Maxi. Bad weather over the Med this coming week.
Now this really does some up the posties and union...
Should we
A...get round the table and talk
B...as we are now going to be on the back end oh a hiding talk a ot administration...oh how things have changed in such a short time...
Oli ward
Your making me drowsy
Take a bow..
Dinner by the pool..see you soon
Or perhaps take this on :-
while the order is in force, the company's affairs, business and property are to be managed by a person appointed by the court.
Oli, what a useful Chap to have around. Any chance you would summarise for us :-)
Sounds like union/reps/posties/now pinning all thete hopes on administration lol
Thanks Oligarch obviously Anger didn’t know the answer but what’s new there LOL
Dowsie, "what would happen if the company went into administration?"
I know that Maximus doesn't really agree with it but here goes.....
Postal Services Act 2011
Part 4
Special administration regime
Postal administration orders
https://www.legislation.gov.uk/ukpga/2011/5/part/4
Sent a letter 2nd class recently. Took a week to arrive at its destination. Saw a postie in our road last Monday! No wonder the company is currently loss making...
In all seriousness I do feel very sorry for the average postie ..alot I talk to look at you confused when you ask them about the consequences of what there doing...nothing has been explained in any detail what/will/could happen to them shortly...they seem to be in a bubble,union says strike so we strike...no one seems to of mentioned to them things could turn out alot worse for them...for this the disaster lies at the union and its reps doors...the posties will soon start asking more questions once the changes are forced on them..could of this been avoided..yes...should of it been avoided yes...Will any one in the union send out an email to there members outlining what's to come if they carry on...err...no...
Lemmings iam affraid ...
Just looked 9.5 pounds an hour with the 40% on 13.3 an hour which is about a pound an hour more then a postman I . I must admit I thought it was nearer a10 pound an hour
The Q1 update RNS
" Both shareholders and employees are an important part of that future. Our employees at Royal Mail in the UK are important stakeholders. 1 in 175 employed people in the UK work for Royal Mail. Our overall package pays up to 40% more than our competitors. We want to do all we can to protect Royal Mail's position as the leading employer in the industry, and to offer long term job security. "
@DOWSIE I took the figure form the Q1
The positive is that this will have to be resolved in the next 10 weeks or less, because legally the company can start firing anyone who partakes in industrial action beyond that date. Simply because the company has offered and proposed
Please don't give the union a heads up...iam sure they no what there doing...
Iam also sure the posties no they have one of the best terms and conditions contacts in the sector..
Perhaps other employers work force will apply to fill the dead wood which will be chopped(see what I did there)
One company I dealt with did exactly the same with regards sickness..changed the terms..them put each employee on disciplinary watch..then as they entered the procedure were dismissed at the end of it..nothing the union could do...you either got on board or went through the disciplinary procedure on all counts of not doing your job to a pre determined standard...I can see this change happening as we speak..keep striking boys:-)
Teslo 40% more your having a laugh find out what the minimum wage is then put 40% onto that see how much an hour that is and your saying that’s what postman get I wish .
Oli
As @HeresHopin said what about all the shareholders that have been " mugged " off by the dispute.
The share price has dropped around 30 % since the CWU announced their intentions in August to pursue the company via industrial action. It's also likely that it will continue to drop more in the short-term.
Wiping £1.1 billion of the current market cap, and it's dropped £4.2 billion since the peak of June 2021.
The positive is that this will have to be resolved in the next 10 weeks or less, because legally the company can start firing anyone who partakes in industrial action beyond that date. Simply because the company has offered and proposed to settle this via ACAS.
There are justifiable arguments for all sides, plus it's well documented the pay package for current RMG employees pay package already exceeds that of its competitors by 40 % along with the fact it has much better terms and conditions, especially in regards to pension, sick pay, over-time, hours worked and multiple other areas.
Personally and judging by the picket lines, it's not the shareholders that are taking the proverbial p@@@, It's more the ego's of Terry, Dave, Simon and Keith who seems MIA along with Terry.
Maybe Dave and Simon should just have a straightener and settle it the old-fashioned way.
Oli I would genuinely like to know someone said a couple of days ago it could go into administration.And I thought if it did the government would take it back but what do I know
Dowsie, was that a rhetorical question or would you genuinely like to know?
So, it's accepted that the BoD have spent the money. £416m profit. All given to the shareholders and board members in bonuses.
If we had shrugged our shoulders and said "fair play, you mugged us off" then what would happen next year? You guessed it, same again.....
Anger when I ask What would happen if the company went into administration you drew some pictures so basically you don’t know . And if you do know please tell me
An educated guess imo..would be r/m are not interested one bit in offering any more money,until they accept change…nothing is set in stone and they may offer a little more…but the company now have the union right where they want them…I suspect they will want to make them squirm…until the workers realise there time hasbeen (I like that one)been and now gone.keep striking boys:-)
The employees could also say the same about the company, in terms of loss in revenue.
But the company can just move assets around, create a Phoenix and rise from the ashes.
One last point at what point does this become a lose - lose for the employees, especially in terms of pay.
They would probably settle for another 2-3 % increase in their salary.
They must already be close to losing the same amount they're striking for, simply by striking and continuing to strike.
Another 3 % in pay, will be equal to circa 1 weeks wages, yet how many full-day strikes have already taken place.
I agree with the majority of what you say @Maximas and I also believe public support is turning.
Short-term pain for Long-term gain.
Telso
The company will no by there own internal figures the cost of the …not fit for purpose workers …if you want to put it that way…changing the terms and conditions,attacking the sick pay…weeding out the lazy…they will no that 10 years down the line the drag on the company will be even worse…I have said this many times,this is not about here and now…but years ahead…the union have played straight into the company’s hands,this is because
A…every time in the past they have won.
B…they expect r/m to fold again.
C…now they realise Pandora’s box has been opened,and they cannot shut it,to try and save face the only tool they have is more strikes.
D…more strikes now means the tools in Pandora’s box that were not available now are.
E…now r/m can finally get to where they want to be,it will take a while,perhaps years,but it will now get there….
Those that use the sick system will be outed…those that physically cannot do the job will be outed.
The company will no that the above,if they are struggling now will be useless in the long term plan…r/m are grasping the nettle and there is now nothing the union will be able to do.
The public are turning…a game changer…what can the union do..
Absolutely nothing…please keep striking boys..push that share price lower…
Buy when all around are selling….sell when all those around are buying:-)