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I am pleased to say that Barclays have now officially confirmed that the request for an EGM has been sent to Hibu PLC in respect of this meeting being called by HSG. Please email hibushareholders@gmail.com if you are interested in joining us.
Wonder how long it will take new bods to sort out the field sales pay The old role of ME was paid basic of 41k and now that does not exist anymore why are they still being paid that obscene amount bearing in mind they are doing the same job as their MC counterparts
Join a growing list of over 700 shareholders who are working as one to force a u turn on investor wipeout or claim equitable compensation for their loss. Membership is growing daily but if your are not on the shareholder registry we can only hope you read message boards like this and drop the group an email.
Any value here?I have/had 140k shares [ ouch]
Manager who left in big payoff said so. They were both big shareholders and watched this intently. Person in question is very vocal in this forum. Figure it out by looking at all posts
OK - how do you know?
http://in.mobile.reuters.com/article/idINWLB0058420131017?irpc=932
"There aint any reason to be rude." Yes there is.
Did I tell you the one about the senior manager who stood up and multiple meetings advising staff to buy shares? "you can't lose"! That person is on here spouting against hsg. why don't you ask me how I know?
I'm not a shareholder so not involved with the HSG - so how do you know it's a joke unless you are involved in the group?
There aint any reason to be rude. Maybe you have issues and need to fix it. It's only a waste of space if you write on this forum and say nothing about hibu so that says a lot about you. Accept your loses mate cuz the HSG is a joke.
Appears to be pats on the backs all round ... but no mention of the shareholders as far as I can see?
I agree that people are now earning money that weren't however disagree that hours aren't scandalous. Heard that ceo did survey and average person is working 76 hours! That is just slave labour plus having £60 off for every mistake. Goes from bad to worse. At least hibu have at least £50k to fight court action
I also am an ex employee with many years service and the error deductions have been in place for a few years now The salesfore do work long hours however there are many who play the system and get very good money for doing very little .Infact in April of this year they changed the way bonus was paid, so there was no deduction taken of the basic salary so those who were missing target of which there were and still are many actually got paid bonus to do so!!!!!! all this as our shareprice was being driven into the ground The good salespeople should get out while they still can...............and at least get their lives back I did and am just sorry didnt do it sooner
I aint trying to be cruel here but this HSG is run by a group of idiots. They are fightin a lost cause with their silly acusations. It seems the media are on this too and the reports just make this group look pathetic. We were warned and even I will admit that. So these people in HSG are just trying to fool people into believing they were tricked. I'm glad I didn't join as it would have been a total waste of money.
Performance Related Exits have always been around (I'm an ex long standing Sales Employee). The terms of our employment contracts were regularly changed and we were basically told to sign the new "ongoing" contracts as there was no choice other than to leave. With a lot of the accounts, the problem is that you are following whoever sold to that client in the pervious year - if that person used underhanded tactics to get sales then you're scuppered before you even get started... being handed badly sold accounts to renew is like being dealt a crap hand of cards at poker - there's very little chance of recovery unless you have a massive stroke of luck so you could end up losing your job based on the behaviour of your predecessor. As for "error fines" just another way of reducing the commission paid out. Yell/Hibu were always concocting new ways of not having to pay commission... even if someone achieved 120% of their target if less than 30% of that was from new media the sales exec would get nothing. Then there was the fact that we were all forced to drive BMW's!!! The cost to staff was horrendous, and were only part funded by the company, we had to pay the difference of around £200+ for a basic model per month on top of the tax plus fuel repayments didn't cover what we were using for business. I left a year ago to take a 9-5 with an £8K a year drop in salary and with a company car allowance and come out with £470 more a month. The Hibu sales job is made to sound like the best sales job in the world but for take home of £1200 a month for working 70 hours a week pretty much makes it the worst. To anyone being managed out, I say use it as an opportunity to set yourself free.
Have heard that sales people who make minor errors in the complex sales process are being penalized financially.The total is over £50,000 in UK for September deducted from sales staff! Are they so cash-strapped that these exploited individuals are now being robbed? Don't know how true this is? Also that in North East 5 people left because of performance management! In other words staff cuts but too worried about public perception they're using mercenary means to get people to leave. Forced attrition of worst individuals!
http://www.hibu-shareholders-group.com/egm-request.html ... The action groups proposals seem rather "demanding" perhaps excessively so and vexatious? ... The action group seems to be trying to appoint directors to the board ... What level of remuneration would they be seeking to secure for themselves?
hibu turns down meeting with activist shareholders 09-Oct-13 hibu shareholders claim to have been snubbed by the company's board of directors when they tried to meet over concerns about the former Yell Group's restructuring, reported the Reading Post. Barry Dearing, the solicitor for the hibu Shareholders Group ("HSG"), said he was told to write to the firm’s lawyers when he tried to open up lines of communication with the directors of the debt-ridden business. The group is concerned about hibu's restructuring which aims to cut GBP 2.3bn of debt, resulting in no payment to shareholders and no value of shares, said the report. Dearing told the Reading Post he was rebuffed when he approached company secretary Christian Wells with matters he sought to take up with senior director Richard Hooper. Rather than receiving a response from the director, hibu’s legal advisors said the company was not in a position to meet with him. The company maintains it has kept shareholders fully informed in all formal communications, added the article. Dearing said that the HSG will now request an “extraordinary general meeting” of shareholders. The group holds about 30% of hibu's share capital, according the Reading Post. Last year, Dearing campaigned on behalf of shareholders of loan company Cattles, and secured a GBP 16m payout for shareholders of that company. Source: The Reading Post Size: > 300m (GBP) Grade: Confirmed Stake Value: N/A Intelligence ID: 1671734
Just email hibushareholders@gmail.com. If you have shares in a nominee account just sent a screenshot of your holdings and a PDF with photographic I'd eg driving license.
I have sent email requesting to join group but seems to fall on deaf ears! Still no reply. Is it still up and running?
noadvice4u - it's perfectly reasonable for group membership to be open to shareholders only, else the door would be WIDE open to those with an agenda to thwart its efforts maliciously (they could still slip through the 'net', of course, but this stipulation reduces the chances of it happening and limits potential damage in the event it does / has). As to non-shareholders showing support and sympathy, I'd rather they do so using public forums / sites as this is bound to result in our noble cause gaining far greater exposure than would be the case were they to use the hSG site. Sympathy and moral support isn't really going to help at this stage (much as it is appreciated - don't get me wrong), unless the latter is of the financial variety. This being the case, I'm sure group members would be amenable to an alternative arrangement! Finally, I'm sorry for the silliness of my last post but it was late, I was a bit sozzled and you had been a potty mouth - tut-tut.
I don't know what you guys are on. Your clearly not accepting everyone who wants to join and you being rather exclusive. I read you blog and you sprout endlessly about director transparent. Well, put your money where your mouth is and make your group transparent and open to all who want to join shareholders and even non shareholders who want to express support and show sympathy. As for Chris who is doing the vetting, automate the process through your website and stop acting like the bleeding Stasi. Damn shame such a good cause playing it wrongly.
The action group has a public facing website now ... http://www.hibu-shareholders-group.com/ ... Its a pity the shares are still suspended ... someone might otherwise be willing to offer 0.6p a share plus on seeing that?