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Mike
There is going to be little slack in terms of SISO until March now.
The big problem besides the USO is absenteeism. I remember a front page of the Courier (RM staff newspaper) in the noughties proclaiming the 500M annual sick pay bill. That was in the days of pushbikes and carrying weight on the shoulder. With pay increases and the general environment that must be pushing 1B annually now(1.7B during pandemics -thanks Vince!). But now it is all delivered via expensive vans and trolleys.
Ref. Ditching letters
just thinking aloud...could the letter USO be run (or part run)as a charity delivered by committed and reliable local people who see it as 'their' DUTY to get these vital communications through? maybe replacing RM's current charitable efforts?oli's machine sorts them and they are good to go.
JB I am also happy to stay invested in the post industrial relations aftermath
Redceo
I am a PUDO person with parcels. The previous recent discussion analysed this . I don't think the might and reach of the other carriers was realised until the industrial action. And now scamp may have given us an apocalyptic update on RM deficiencies.
’ doesn’t matter what I think or you for that matter it was the government thinks that matters.
Dowsie has encapsulated it right there. The shareholders and directors they sold this company to are not in fact in control.
Oligarch, I bought into the 'transition from a letters to a parcel business ' narrative, because the(useful )paper letter will soon be extinct. I presumed the government expected this, yet at every turn they thwart the desires of the shareholders
Hounddog10
Cheers, thanks- those numbers sound like the definition of eye watering. I won't be venturing in those waters. But I have a sentimental attachment to rmg(unadvisable I know) and it has been a harrowing experience of late. But I like your 'With IDS at least the overall business is backstopped by GLS ' optimism
Hounddog10 -aloha from Harwich via satellite
The headline act on debt analysis !
I'm new to this shares lark ,rmg were the first I owned. I've just searched BT debt and at the top of the list it says as of march 2023 its debt was £18.5billion . That sounds a real burden to me
Much like the industrial action has invited close scrutiny of the 6 day USO, if ever a catalyst for further scrutiny by the SISO administration were needed it would be 'catching up' on a Sunday in 'your' office. To those employees in this situation I'll say this for the first time:GLA