Stefan Bernstein explains how the EU/Greenland critical raw materials partnership benefits GreenRoc. Watch the full video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Dowsie3 I hope not as we have nothing to do with gas or electricity well maybe hot air from some lol. Seriously it can be reviewed at anytime by either party particularly in the light of a major change in volumes, IA or financial issues. I honestly cant see it remaining in its current format.
Although downplayed letters are still important to RMG. In the 2021/22 year they made £3,714m. Parcels £4,800m. The problem is that they are in terminal decline. Currently dropping at 7%. In my view that rate will start to accelerate quite steadily. Other “analogue” processes such as cheques, cash, bank branch visits, physical newspapers were around that level five or so years ago. Now they are more like a 15% decline. Indeed, recent figures for newspapers show an almost 20% decline for some. A 7% decline costs RMG £250m in revenue. Of course that snowballs relative to the starting point - £250m decline this year, £500m next year, £750m the year after. I would guess by 2030 letter revenue would be more or less immaterial.
Although the future is obviously parcels and that looks bright it has some challenges. In its annual report RMG quotes a figure that 43% of the retail market in the UK is now digital e-commerce. What might be the maximum - probably no more than 80%. So RMG could possibly double parcel volume over time if holding market share but they will need to be hyper efficient and start now. Also I suspect a decent part of the market will go to click and collect and into lockers rather than door to door. Again in its annual report RMG quotes a figure that 44% of people in Denmark prefer a parcel store/locker while 87% in UK prefer door to door. RMG thinks this is hopeful but I am not so sure. Apparently there is a Czech guy (not K) who is going to put lockers into supermarkets. Supermarkets get some rental income plus potential for more footfall. Delivering parcels to lockers is apparently (and unsurprisingly) over 10 times more efficient than door to door.
Ofgem have already looked at the business needs and have said the USO is safe for another 5 years all be it a different framework. I think it was march this year the decision was made
AngerS agree with your comments and would add one other major factor. The USO for the business needs to be financially viable. The business numbers volumes and revenue and profit will have been shared with OFCOM.
I have said consistently that the current USO is not fit for purpose and it will be changed. What that will look like is up for consideration. Will it mean any employees will be out a job when that happens no of course not. What it will mean will be a change of mix of work, potentially different delivery spans etc.
The business and CWU need to agree how to grow in the correct areas and to maximise the resource. Of course the current staff may be happy with the protection that the USO will offer but the business and the CWU have to be about growth and modernistaion to secure the business and jobs.
I watched the CWU live session last night and I try to be fair in opinions on these but I thought it was absolutely shocking. Their main focus now appears to be personal attacks on CEO and BOD and how they now recognise there is a mapped out plan for the business and they are going to exspose ST.
They mentioned they will have more meetings and next week will consider what escalation steps to take. It honestly appeared to me they have given up on talks and pinning everything on trying to remove ST.
I am not saying ST is doing all the right or wrong things but for CWU IMO to revert to get rid of the bosses is weak IMO.
Will more strikes work, or work to rule, overtime ban, strike on black friday, strike through December NO IMO. It just weakens the business further and means future changes are likely to be even more severe.
Hopefully ACAS can help if that happens and /or talks resume. The Business, Employees, Customers and possibly some shareholders including employees who hold. will all lose out in some form if no solutions found.
I used to be a postman (as my moniker implies and did have a few Porsches; but that’s another story) and management started saying letters were reducing from around 2010 I think. We were all puzzled my these statements as there were still tons of letters coming through. Packets started increasing around 2015 with almost all items with barcodes (meaning little farty ones from China) needing scanning at the point of delivery. I was lucky enough to retire just before Xmas 2018 as I really didn’t fancy another festive period delivering (well, attempting as the recipients were almost never in, which became very frustrating) post. As regards to the current dispute in the past management always gave in and settled but in this case I’m not sure.
1. Have the board been colluding with Kretinsky? Why would they need to do that? To what purpose? No doubt Kretinsky (who owns over 20% of the company) does make suggestions to the board. And why not? He, along with other big investors (institutions) might well be able to remove the present board if they were not happy with the direction they were taking. Certainly nothing covert, underhanded or illegal about any of this.
2. Why should Kretinsky present a threat to national security? He is not pro-communist or a Putin fan. Far from it.
3. Why would he be bad for the U.K postal service? If he is prepared to use his own money to trim and streamline the company to make it fit for purpose, why should he be disqualified from doing so?
4. How would he be deemed detrimental to Royal Mail? In what way if he makes it more efficient and decreases costs and overheads?
Lots of rubbish been talked about Kretinsky. Of course he is in it to make a big killing. But he certainly won't be allowed to slaughter a 500 year old business that is still at the very heart of the UK's infrastructure.
5. And how can he be accused of profiteering? He can point to the fact that he was buying these shares when they were nearly £5.00 a share. Under the present circumstances that hardly sounds like profiteering does it?
I stand by what all the other posties have said regarding our 2% pay rise -- an absolute disgrace!!
But I also stand by what I stated right at the start of this dispute: the posties cannot win this dispute...not this time they can't.
Kretinsky will get the nod. And he might well be the only viable way forward for RMG...regrettably.
looking froward fro Dvidend now as there there is no way to sell RMG only buy if you can
Sorry Oli, should have read the full thing but so much being posted here.
beatrootjuice, it was supposed to be an ironic take on another posters simplistic point of view regarding the USO and how everything is going to pan out when Kretinsky is running the business....lol.
You've got no idea or are believing what they say about letters. There's no way you'd deliver 6 days letters in two and who's going to do the pkts?
The USO protects the UK element of Royal Mail as a viable profitable business and going-concern.
Even the most unionised employees that post here know the share price will eventually reach and find a level where even they become investors themselves.
All that is occurring is another share price cycle, similar to 2018 and 2020.
How low the price goes and how long it takes to recover before it reaches NAV level's and beyond is anyone's guess though.
The reality and in light of recent news is that it will probably get worse before the tide eventually turns and the demand for shares outweighs the current supply. Although if DK does get the go-ahead to increase that process could and will happen quicker, simply because of the FOMO that is always attached to any potential takeover offer.
Not to repeat myself, but even the most militant employees that post here are all potential investors at a certain price, just as they were in 2018 and 2020 and tells you all you need to know about the long-term future of the company.
In the short-term predicting either a potential bottom or future top and / or any takeover bid price is pretty futile.
So, back of a fag packet calculation... Simon busts the union and gets a big bonus.... Kretinsky offers 330p per share and buys out RMG... Existing shareholders are relieved that their losses have been offset... Kretinsky secures reduced USO down to two days a week... 50,000 delivery posties sacked... Everyone's a winner baby.... That's the truth...
Ispy, I'm sure that Kretinsky will have OFCON in his back pocket on the USO....nothing that a large wedge of cash in brown envelopes hidden behind radiators can't solve.....lol.
Ispy forget about the uso DK will have a plan I’m being sarcastic
@ Oli G.
The USO? Whatever is that?
Is that the thing that the postal regulator, OFCOM, recently shored up for another 5 years? Albeit with a new regulatory framework for reporting. Starting 2023/2024 FY.
Ispy, I'm glad that I'm not the only one who understands the importance of the USO. Unfortunately Maximus seems to think that it's fairly irrelevant with comments such as
"I find it quite remarkable that you have several times retreated behind the same….house of commons argument."
@ Oli G.
Would telso be trying to intimate that there will be a postal service, regardless of any events spoken about here?
Something i did mention much earlier, and have done several times before.
Give all letters/packets to Whistl???? LMFAO.
You, I and every other blue-collar worker will still be in a job when this eventually blows over.
Much to the dismay of many here.
@ Maximas1.
A few letters?
You keep on believing the RMG rhetoric about the massive decline in letters. Of course, there is a decline, but not as horrific as the powers that be would have you believe.
And i will keep striking. I quite like 3 days per week. That makes me a part-timer. Something that RMG have been banging the drum about for years now. But it's never actually worked.
Why don't you lay the blame of failure at the feet of who is actually responsible?
Or are you too stupid to realise where the fault really lies?
Can't wait for the 1 quid party. I'm fully funded and ready to invest. I do hope that dividends will still be paid. (crying with laughter emoji).
According to Google, the closing price at 17:07 was up to 213.38p, so up by 4.2% on the LSE closing price?
Worthless spy
When all you have to deliver is a few letters hopefully you will see the error of your ways…perhaps you won’t be working at r/m….keep striking my boy..
Wishing you well in your next vocation sincerely maximas
teslo, "what also differentiates RMG from other PLC's is that it cannot go bust, the Government will be obligated to intervene by the USO if there are going concern issues".
Why would the UK Government be obligated to intervene?
@ Maximas1.
You do understand that all RMG staff have a start and finish time?
Meal breaks? Van checks? D2D's? Collection on delivery? Photo capture? Redelivery next day if the first attempt is unsuccessful (currently being trialled in two northern D.O's). All these things and more need to be factored into our working day.
That's the plan.
When RMG managers start too actually use this as a basis for their daily "plans", you may get an idea of how much flexibility there is, in our working day.
Why do you think managers do not insist on staff taking breaks?
Why do you think that staff are "allowed" to come in early? If they had an accident prior to their start time, would they be covered? NO!!!!!
You really are a clueless individual. You should probably stop now.
But good luck with your averaging down.
Unable to cut and paste the reminder for some reason, just that was the bulk of the article.
May be of some interest? Cut and paste from MarketWatch (part 1)
FedEx Corp. on Thursday announced between $2.2 billion and $2.7 billion in cost savings for the fiscal year ahead, and said it would raise shipping rates for air and ground services by an average of 6.9% starting in January.
The plans followed preannounced quarterly results last week that stunned Wall Street and raised deeper anxieties about the company and the U.S. economy.
Those planned cuts, which added specific figures to cost-reduction plans announced last week, will largely come from FedEx’s internationally focused Express business. Management said $1.5 billion to $1.7 billion in savings would be drawn from that unit, with plans to lower flight frequencies and park jets.
Also read: Why FedEx’s profit warning is such bad news for the U.S. economy
Less would come from FedEx’s Ground unit, whose trucks haul packages to businesses and residences in the U.S. and Canada. The company said $350 million to $500 million in savings would come from that unit, including from closing some operations and halting Sunday operations.
FedEx said another $350 million to $500 million would come from putting off other projects, and closing some FedEx Office and corporate locations.
lets see over the next week or two..
good evening to you max also..