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.
Another ridiculous wage increase!!
https://www.unitetheunion.org/news-events/news/2024/may/unite-seals-hefty-pay-rise-for-north-east-national-express-drivers
1970’s here we come. Starting July 5th.
This is a f------g nightmare
The shorters are all over this and will take this to new lows. Its inevitable unless something changes.
Just sold the balance of my stock for a 5pct profit - the wage negotiation has put the tin hat on it here as far as I am concerned and with Labour getting in the unions will have even more power - no corporate news on the horizon anytime soon for MCG so the share price will be subject to the vagaries of macro/micro economics and of course the shorts which are now increasing - the only sliver of light I can see is a takeover, but the predator will want this company at a rock bottom price, and the way it is now looking they will get it - I am out - good luck all who remain
dyor etc
I do not get the negativity. Interest rates about to be cut,and fare increases in a lower inflation environment can see this rerate.When people complain about the bus drivers getting increases in pay,it makes me laugh,as they are so poorly paid,why not pay them fairly? Fare increases where possible ,increases will still leave this a very competitive product.
I suspect your decision was based on lots of different things but hopefully not to much on the increase negotiated by Unite with Go North East, they are part of go ahead and operate NatEx services in the north east . The increase will feed in time to increased running costs for NatEX I suppose but as far as I can see the negotiation was not directly with NatEx, which I think paints a slightly different picture.
Company news will drive this share price upwards.. There is a lack of confidence in company management.
Maybe wage increases will be offset by fare increases but there is always a lag and the loss is taken by the company. Notice its backdated till last June
So that will be GoAhead taking the loss no NatEx then? Nat Ex Don't employ the drivers.
This is taken from MCG latest results - "However, the fall in Adjusted Operating Profit was principally as a result of the January 2023 16.2% pay settlement in UK Bus which was effective from January (the primary driver of a £23m increase in driver costs, with price rises only effective from July)" - anyone who believes pay settlements will not work through to the bottom line with MCG is fooling themselves - this will not get any better under a Labour Gov believe me I have seen it all before - they will promise a good deal for the private sector but in the end they will revert to type imo - tax and spend with plenty more powers for the workers - if you don't believe me listen to what Angela Raynor is saying
gla dyor etc
Guess we can expect another profit warning before hy results.
Back to the 50s
Agree JG68. No confirmation of buyer. Pay rise, interest rate high. No improvement in margins. Shorts are pushing this down.
This is a dog of a company. Not worth anything!
Carrington
there is a huge difference between bus contracts and the company run coach services
Coach services can increase prices with far more ease than say the West Midlands buses ...and it is the Bus wage increase that they are mainly referring to in the Results quote you have posted ...
Coach services are generally cheap when compared to train so there is room for price increases
I think Labour will have to be very careful with regards Unions and wages , as that has a very strong influence on inflation,interest rates, the economy etc .... you can see what an increase in the minimum wage has ...soon after the wage means nothing as it causes prices to go up anyway
Reeves is going to find out that she has to kneel before those who want to lend the UK money, just like Hunt has to..
All this notion that Labour will make huge sweeping changes early on ..are..to me .. a non starter
" listen to what Angela Raynor is saying "
Carrington
The telegraph dont seem impressed ....
https://www.telegraph.co.uk/business/2024/05/21/angela-rayner-ruined-labour-last-remaining-good-policy/
Hindy’s three white soldiers couldn’t survive shorter’s attack☹️☹️☹️
Poker - re Labour - I will believe it when I see it - London mayor Sadiq Khan caved in to the Tube unions with an extra £30m to avert a week-long pay strike only a few weeks back - that is how Labour works matey - I never saw one Labour MP come out and say the Tories were correct for not caving in on the rail strikes - the Labour stock answer is we will negotiate, like Mr Khan did - that is why the rail strike is still going on, waiting for Labour to get into power so the tables are turned in their favour
gl dyor etc
Carrington
I wont get into the politics ...but the Tube deal seemed to give pay rises to the lowest paid ...which is a symptom of the cost of living in London , ...but.... we could also look at the whole idea of low wages that are then supported by housing benefits, council tax benefits and other tax payer benefits added to the low wages ...
...so... if on one hand a better wage means lower added benefits ..I dont know.... maybe the tube users will pay rather than the taxpayer at large
I dont know, ...a deep hole of financing and politics !!
ATB
Hmmm => I see a bit of theatrics ahead
Responding to the announcement that a general election will be held in July, Unite general secretary Sharon Graham said:
“There is no doubt that this election will be a pivotal moment.
“Workers and communities are crying out for real change; Labour can be that change and will have the power to deliver what is needed in government. They can now show they are on the side of workers; they need to grasp this nettle.
“Promises made must be delivered.”
“Promises made must be delivered.”
hummmm ... seem to remember hearing all that when the Tory´s came in with all those Brexit promises
The Unions will help get Labour votes if they get what they want in return ..... I am not so sure Starmer can quite "promise" that yet .....Starmer is going to have to play more towards the centre left ground than real left wing
"Hindy’s three white soldiers couldn’t survive shorter’s attack☹️☹️☹️"
3 black crows devoured the soldiers dead bodies
lest we forget
"In 1931, in the wildernesses of the Malabar hills overlooking the financial capital of Mumbai, Parsi Zoroastrians erected a Dakhma – Tower of Silence. Fleets of white-rumped and long-billed vultures once swooped and returned to the blue skies after having quickly devoured the corpses left there."
I will take my chances and buy more if this goes to the 40's. I do not think this Labour party is going to fulfil the dreams of the quasi communists in the unions, even if I am equally confident that they are going to be as useless as the current government has been for....well, since Maggie really, IMO.
And if they do turn out to be materially worse than the current bunch, well, we will have bigger things to worry about than our stock portfolios anyway.
Hope you took some profits beforehand, JG.
This is a hold for me right now, although looks like a technical sell, from a chart perspective, IMO.
No, I am not short, or looking to buy in cheaper etc, in case anyone was planning on saying so.
But a virtual raspberry (or a less polite gesture) in advance to anyone who accuses me of it now :)