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are they not the face of RMG, dont know of any other place where i take my parcels... are we nit picking now?
An investor that doesn't know the difference between Royal Mail and The Post Office. Says it all.
Separate companies!!!
I must say I use r/m Daily,very good on tracked,first and second…but your right and spot on with the dead wood….which I suspect will be next for the chopping block…the wheels are now in motion…will be very interesting to revisit these threads in two years time…
What’s has your trouble at the Post Office got to do with RM?
you aint wrong, today ive experienced everything that is wrong with RMG from their customer service, PO empty, attitude from staff behind counter, nothing like dealing with EVRI or YODEL, they either want business or they dont.
IMO it would be a good idea for a name change as well removing the 'Royal' entitlement, seems to go to some peoples heads. Sorry for all those hard working posties who are polite and graft but there is a lot of dead wood in this business and it needs clearing out fast!
Rmg been s!!t for some time now ???
...cometh the hour...cometh the Ice-Man.
emergency meeting with CWU.
Looks like Rmg could pricewise become the new High Street Poundstretcher
You may well find the market like the fact r/m are now,finally putting the union to sleep,moving on,they may well now like the fact that change will happen,sooner and quicker,which means more money coming in…the employees either get on board or they get moved on sharpish.
@Anger Yes, that would equate to a profit warning, considering the combined profit for the company during 2021 and 2022 was £1.3 Billion.
Paying out £700 million in dividend and share buybacks and not expecting the CWU and its members to demand their share of the pot is just a repeat of what has occurred previously.
It's turned into a real **** show once again, especially when you add-in that they increased the price of first class stamps by over 10 % in April.
Eventually, it will be resolved, it's just a case of how long and how low the price will go in the meantime.
As a gig-economy employer, RMG as a group could easily generate circa £1 billion a year profit, simply on the labour cost saving alone.
In its current state unless they have a bumper Christmas as a group, profitability wise, they will be very fortunate to match the year ending 29.3.2020 figures of £150 million.
The agreements with the CWU 100 % needs revising but so does the companies future policy of distributing profit to shareholders. Returning £700 million to shareholders, whilst carrying £985 million in net debt really does not look like the greatest decision considering where things currently stand.
I will continue to buy month in month out until the tide turns.
Good Luck.
Anger you think RM will be losing 250 million by November at least you may well be right. That means in the last 3 months we would be losing 1.7 million a day or roughly 160 million in 3 months.I if you are correct I don’t think anyone should be buying this share at this price it will fall further
id expect this to drop £1.60 area
AS re property they have started doing this already. I met with an old colleague last week and the business has just sold of the admin building she manages for I think she said £3.5m and they are moving fairly close by into leased property. Most of the operational buildings are used and only really become available if work is concentrated. As others have said a lot of the delivery offices particularly are not fit for the changing face of the business. Of course many of the town offices are in pretty decent locations with some still being shared by PO Counters.
the Ice-Man cometh.
The dividend policy and buybacks based on a temporary Covid bonanza were not the prescient actions of a board with a duty of care to the long term planning and health of the company.
Jigger " a lot of what you discribed in the first paragraph comes from the base date, i. E. The walk log"
I agree.
On the round I used to do I went through the PAF one day and gave them a list of incorrect / missing / demolished DPs. It was ignored. During the revision the manager reprinted the data for me, I corrected it, a couple of DPs were changed, some were missed and some were changed that didn't need to be.
When we got the new managers in one of them printed off the database - a completely different one to the one the revision manager gave me. This had over 100 errors or missing addresses on it. I corrected it, gave him back the paperwork and six months down the line...nothing.
I had people saying to me that they couldn't find their address on some websites when ordering goods. Turns out these companies are using the walk log database rather than the PAF database. It's ludicrous.
We've had a revision and I'm on a different walk now. A nice, easy (from a database perspective) town walk . Loads of roads numbered 1 to 192 or whatever. No one can bodge that up, he says hopefully.
The CWU statement tells the full-story.
One element of RMG is endeavouring to modernize the company bring it into the modern era and essentially make it a gig-economy employer. This would effectively have the net effect of making it a highly competitive and profitable company especially in the longer term frame.
Meanwhile the Union, will continue to oppose all the proposed changes, especially those involving technology and ones that would enable the employer to track to the workers during the course of their daily activities.
The employees, especially the CWU members do not want to tracked, because it will be finally revealed and confirmed why and why so much money is being wasted labour costs.
I would hazard a guess that at least 50 % of employees, especially those in entry level positions are booking ghost hours everyday. The company will be fully aware of this, but because of the Union they're getting away with it, mainly because GLS has been and is subsidising the cluster**** that UK Royal Mail.
All they're doing is delaying the inevitable, and making it easier for someone like DK to get the company on the cheap.
A profit warning come November and this will be in bargain territory again, and it's crazy to think the company has allowed this to repeat itself after the lift it was given due to COVID-19.
Good Luck All.
Casper, why would posties be selling up through frustration. Many are buying more at the cheaper price and tax free, plus freebies makes them less than 1-50 a share.
Our revision last year was also done by a senior manager thar took EVR 3 months later. Absolute shambles , with complete streets on wrong walks.
Most posties in my office look forward to a proper revision because they already work to there finishing time. If they add more they will just bring it back
Today, the Royal Mail PLC (LON: RMG) share price fell 3.2%, bringing its total losses over the past week to 17.2%. The decline was precipitated by a strategy change initiated by the parcels company to revamp its industrial relations with the Communication Workers Union (CWU).
The parcels company noted that negotiations with the CWU had hit an impasse and has proposed that the discussions be referred to Acas (the Advisory, Conciliation and Arbitration Service) to see if a solution can be reached.
Also read: The Best Undervalued Stocks To Watch In 2022.
Royal Mail further announced that it would review or serve notice on several historical agreements and policies that the CWU has used to frustrate the company’s desire to transform its operations. The move will also help Royal Mail modernise how it works with the union.
Investors and the union workers were surprised by the steps Royal Mail took to resolve the ongoing friction between the company and the workers union. The parcels company noted that a complex web of agreements signed with the CWU over many decades had made it impossible for the company to modernise its operations.
Royal Mail noted that efforts to revamp its operations over the years had been met with resistance from the CWU, which has the power to veto some of the company’s operational decisions that could make it more competitive in the cut-throat delivery business.
By modernising its agreements with the CWU, Royal Mail will speed up its daily decision-making processes, quickly trial and introduce new technology, and reduce the complexity and cost of its operations. The move will also see Royal Mail revise the attendance policy of its employees who have been persistently missing work.
Royal Mail noted that it had invested tens of millions of pounds in new technology to improve the customer experience but could not use the information to improve performance and safety due to restrictive CWU agreements.
The company hopes to retain its position as the best employer in the parcel delivery industry by modernising its working relationship with the CWU.
*This is not investment advice.
The royal mail share price chart.
Royal Mail shares hit a two-year low this morning after the company confirmed that it still hadn’t reached an agreement with the Communication Workers Union (CWU) and would be terminating its agreement to protect jobs.
The company told the union that it would also be scrapping a nine-year deal to protect jobs and conditions, pushing the CWU to back down on strike action.
“After five months of talks and three days of damaging strike action, CWU continues to delay and block the changes we need to compete and protect jobs long-term. Royal Mail is losing £1million a day, and we need to break the impasse and move ahead with our transformation,” a Royal Mail spokesperson said in a statement today.
“We have today informed CWU that we want to modernise our ways of working, including serving notice and reviewing a number agreements that have been used to resist change, frustrate the adoption of technology, and effectively veto our transformation.”
It is understood that the company served notice of its intention to terminate the agreement this morning to union chief in person.
The private firm said it has proposed further talks should be taken to the publicly funded ACAS (Advisory, Conciliation and Arbitration Service).
Released not to long ago..so some may have already read this,but for those who haven’t…
Shares plunged a further three per cent this morning following the news, the stock hit its lowest point since late 2020 to 207p.
Meanwhile, the union accused Royal Mail of an “all out attack,” calling on members to take part in upcoming strike action – scheduled for 30 September and 1 October.
Come on Mr K. Get your wallet out, and sort out the CWU, Its a case of the tail wagging the dog . It has to change.
Dowsie3 yep sounds familiar and good old aplus gets a mention . Absolutely right that the data input and information sources need to be accuarate. In an ideal world it would make walks fair but also needs local input and knowledge. An ongoing challenge as always but becuase its difficult just need to keep looking at continous improvement.
RGPostie, whilst I will agree with you the software in antiquated and not fit for purpose, a lot of what you discribed in the first paragraph comes from the base date, i. E. The walk log, if the opg hasn't gone through the walk with the a+ person and sorted out access and so forth it won't filter through to the many tracking apps they use. If the final mile optimisation app is not 100% then everything else with suffer