Member Info for fleccy

"My thoughts on above inflation pay rises are costs go up so the normal worker is no better of, management become better of and pensioners become worse of?"

You say that, but when I was a teenager in the 1970's both sets of my Grandparents lived in council houses, and many households didn't have a Telephone back then; People had a much lower standard of living, so some things have changed for the better. Technology has driven much of the improvement in living standards, with high tech gadgets making life better for everyone. Many of the issues, like house price inflation, is down to supply and demand; At one time a single wage would pay for a mortgage, but dual income households and more recently buy to let, has put house ownership out of reach for many.
The bosses do earn excessive amounts in relation to their employee's, but the more average pay increases , the higher inflation becomes, with the BOE combatting it through higher interest rates, which is bad for mortgage holders and people in debt.
Since most pensions are capped at 5%, or less, most pensioners will be plunged into poverty in a wage-price inflationary spiral, so unions should be careful what they wish for. Clearly wages tracking inflations upward trajectory precisely, with inflation a variable entity dependent on many things, is a bad idea, especially since wages don't go down when inflation drops. BT's pay offer seems fair to me, as these things tend to balance out over time, with people often getting above inflation pay rises in low inflation years, or through promotion's. The unions asking for 10% pay rises isn't going to happen, and should thay later go into negotiations and settle on 7%, or 8%, then the lower paid staff will see no benefit from striking.

"Solidarity Brothers"

Power to the Sheeple.

"to cope with strike action"

"“Unlike a production line, networks will run without manual intervention”, he said.
During the pandemic, network operations centres transitioned to working from home and, by extension, were forced to reduce out-of-hours capacity. “We successfully managed to catch up on that”, Watson added.
That being said, he confirmed internal discussions to ensure “preparedness for potential industrial action”, centred around work prioritisation. “Most of the manual intervention in our network is adding capacity”, he noted. “That can be spread out throughout the year”."

https://www.telcotitans.com/btwatch/bt-has-robust-plan-to-cope-with-strike-action/5028.article

"10% at least can be added to basic salary to allow for allowances -Does this apply in UK."

I have no idea, other than searching Google. I found these, not sure if they answer your question.

https://neu.org.uk/advice/teachers-pay-structure#:~:text=Teachers%20who%20meet%20the%20statutory,%C2%A32%2C310%20to%20%C2%A34%2C558.

https://getintoteaching.education.gov.uk/salaries-and-benefits

Is there something driving the price today?

"Out of interest can you educate me on salary levels with teachers (primary) and police in the UK"

https://www.educationtay.com/teacher-pay-scale-uk/

https://www.policeoracle.com/pay_and_conditions/police_pay_scales.html

I have no idea about the retirement benefits for Police Officers in Ireland, but they're quite generous in the UK. I have recently retired relatives who were in the Police Force, and they seem happy enough.

https://www.gov.uk/government/publications/benefits-of-the-police-pension-scheme-2015/the-benefits-of-your-police-pension-scheme-accessible-version#:~:text=Retirement%20lump%20sum&text=Every%20pound%20of%20pension%20that,pay%20awards%20equal%20CPI%20increases

Continued:

I'm invested in Vodafone because of their international assets, and my belief that the market is undervaluing the Telecom sector in general. I believe the market giants see value locked up within Telecom infrastructure, otherwise why would the likes of Goldman Sachs invest in Altnet CityFibre, or all the other investments into other Altnet rollouts, or KKR bid for Telcom Italia? Probably because they see the hidden value, and future revenue potential, of Telecom infrastructure assets. In summary, I believe that Telcoms is being purposely underated, while big players mop up shares on the quiet.

"Just curious, why you blab on about BT being such a good investment (even though underwater), when you said you never actually worked for them?"

I suppose it's because I saw the advantage of being an incumbant provider. I was in the Royal Signals, and started out at Mercury Communications in the 1980's, upon leaving the Forces. I watched the struggles hitting the Cable Companies, and had a front row seat when Mercury's parent company (C&W) took over three of them in 1997. For a brief time they started to merge Mercury with the Cable companies, with some cross training between the Engineers, but C&W decided to sell the Cable companies, around 2000, to NTL. I was a Field Engineer at Cable & Wireless, and worked Customer and Network sites; Working on everything from changing a telephone on a desk, Cisco Router/Switches, Microwave Radio, DSLAMS in BT Colocation areas, smartboxes before Carrier pre-select, to Backbone DWDM systems, and in the last 10 years I worked in Submarine Cable and Network Operations, where I was working when Vodafone took over Cable & Wireless Worldwide. I think I have a pretty good idea of the struggles other companies have had in trying to compete against BT, and directly seen the results.
When BT took over EE, I was working at Vodafone, and I remember thinking that BT owning a mobile company sealed their dominant position, and always wondered why they demerged Cellnet around 2000. BT/Openreach's advantage comes from their geographic coverage, and although OFCOM have done a lot to level the playing field, it doesn't take away the value held within BT's Cable infrastruture assets, or the Engineering revenue capacity of the Openreach workforce.
BT's advantage comes from their capacity to massively reduce costs, compete across the whole of the UK, rollout FTTP across all areas cheaper than rivals, and their Geographic scale allowing them to rollout 5G more densly and cheaper than the competition. I think the competition will do ok, but I believe the market narrative has led to an undervaluation of BT, and Telecoms in general. In my opinion, the pension deficit isn't the issue many articles would have us believe, I think it will diminish and move to surplus in the coming years anyway. BT's move to Passive Optical Networking, PSTN switch off, Exchange closure program, and Cloud convergence, is the components adding to the massive cost savings I mentioned above. Of course all this is my opinion, but they're the reasons I'm happy with my BT investment, and why I've topped up during Covid to bring down my average cost per share significantly.

"As others have said (which you havent answered by the way) "quoting the highest rates doesnt make you right" and its a very valid point, that you havent answered. Why is that? and why do you think all doctors live "in nice houses in nice areas", when others tell you differently?"

In one post I said auxilliaries are the ones most in need of a good pay rise, since they are the lowest paid and tend to get the dirty jobs. Qualified Nurses have good opportunities to climb the career ladder and earn more money than I have in my career, as per the examples in the links.
I don't know any Doctors personally, but I've lived near a few over the years, and they all had bigger houses than me, and better cars, and looked like they were doing ok. Junior Doctors have good career prospects and can look forward to a good wage as they progress in their careers. Are you suggesting I'm wrong in thinking Doctors are well paid?

"Fleccy,
you appear to be under the mistaken impression that you are 1 of the 2 incredibly dumb people that DT mentioned ."

Well he did start a paragraph talking about me, immediately following the mention of two dummies in the first paragraph, maybe he should have made it more clear who he was referring to; And the only reason I came on this forum was due to DT expressing an opinion about a conversation I'd had on the BT forum, implying that I didn't know what I was talking about; Actually if anyone reads the posts, I explained that my wife's friend has a Son who's a teacher, who's married to an Accident & Emergency nurse. Not only did I refer to people I have direct knowledge of, but I also backed up everything I said with links to pay scales, etc. In this country, nobody's forced to work in a particular industry, or profession, etc, we have choices; If someone chooses to become a Nurse, Fireman, Doctor, Rocket Scientist, etc,and they have the ability to achieve their career goals, then that is their choice. I expressed the opinion that Nurses and teachers are paid well enough, which is my honest opinion, if people disagree with my view then that's their choice.

"Fleccy
What part of your underwater and im in profit (still) dont you understand?"

If you class sitting on a paper loss as "underwater", then I can't argue with the terminology, but there's nothing to say my stocks wont float to the surface, grow wings and take off in the future. There are a few ways of looking at Paper (unrealised) losses, and paper (unrealised) gains. I'd argue that in the case of a non dividend paying (Growth) investment, then unrealised losses, and unrealised gains are far more relevant, since you're relying on all your profit coming from a capital gain when you sell; Your cash is tied up with no return until you sell, and no way of growing your holding without fresh capital. If you invest in a dividend stock, assuming the dividend continues when the price drops, you can buy more stock through dividend reinvestment, increasing your holding, and the size of your next dividend.
We could go around in circles discussing paper losses/gains, Dividend reinvestment, income, etc, and you'd argue black is white with me since we're at that stage. You should check out this youtube video responding to Dividend Haters.

https://www.youtube.com/watch?v=FpkAwHkKrd0

"Its really very simple, maybe thats the problem? as you clearly see yourself as some form of interlect with superior intelligence to the rest of us, yet fail to see the blindingly obvious right under your own nose because you are too blinkered and cannot EVER see yourself as wrong."

I don't see myself as being anything more than average intelligence, what I'm stating is common sense in my opinion. As far as carrying risk, I view my investments as safe as you view your Ryanair investment, so I'm happy to keep topping up while the prices are low, and watching my holding's grow with each dividend.

"John, it would be hard to imagine two such incredibly dumb people could exist in the world"

It isn't my fault you didn't follow my advice and sell at €18, you could have nearly doubled your money back in February, you'll be lucky to see €18 again in the next 5 years, the way things are going.
DT what's dumb is dismissing other peoples views, because you dislike what they're telling you, is your name Lloyd, or Harry? When I suggested €18, I told you in detail why I held the view that €18 was a better target than €20, but you just kept your blinkers on and now Ryanair's sitting around €12, with €18 a country mile away. The chances are my stocks will go into paper gain, well before Ryanair see's €18 again; What makes it even more unbelievable, is you dismissed my view while Ryanair was well overvalued on fundamentals, and held even though it was a screaming sell before the Ukraine war.
Before you hit back with, "you should have sold your stocks", as I've stated previously I'm being payed to hold them, and reinvest while the prices are low.

"i blame the education system"
For what, your hear no, see no condition? You can lead a horse to water, but you can't make it drink, looks as though I was trying to lead an a55 and not a horse, my mistake.

"Seems to think he knows it all, on quite a few boards"

Your words not mine, a know it all wouldn't be open about sitting on paper losses. I post honestly about my investment choices, post my honest opinions. As it stands I'm doing ok, I expect my paper losses will become gains in the next year or two, and I'll reap the rewards of dividend reinvestment once I move into the black; Not that I have any plans to sell in the foreseeable future, except as part of Bed Isa'ing the stocks in the standard sharedealing accounts.
What's rattled your cage today?

"The average accident emergency nurse salary in the United Kingdom is £48,555 per year or £24.90 per hour. Entry level positions start at £34,628 per year while most experienced workers make up to £73,125 per year."

https://uk.talent.com/salary?job=accident+emergency+nurse#:~:text=Find%20out%20what%20the%20average%20Accident%20Emergency%20Nurse%20salary%20is&text=The%20average%20accident%20emergency%20nurse%20salary%20in%20the%20United%20Kingdom,to%20%C2%A372%2C248%20per%20year.

"My son is a doctor and he rents also"

No doubt he'll be owning/living in an extremely nice property, in an exclusive area, as his career progresses.

"Fleccy I don’t believe your example is consistent with either profession. My daughter is a teacher and she certainly can’t afford property. My wife is an ex nurse and she tells me many are struggling to make ends meet in her experience."

According to this article, the starting pay for a nurse is £25,655, with the average nurse earning £33,000 and £35,000.

https://www.nurses.co.uk/blog/a-quick-overview-of-nurses--salaries-in-the-uk-in-2022/

The bands are:
Band 5: £25,655 to £31,534
Band 6: £32,306 to £39,027
Band 7: £40,057 to £45,839
Band 8a: £47,126 to 53,219
Band 8b: £54,764 to £63,861
Band 8c: £65,664 to £75,874
Band 8d: £78,192 to £90,387
Band 9: £93,735 to £108,075

So a band 9 Nurse can earn up to £108,000, not bad at all, and agency Nurses can be higher than average Nurses pay.

"Band 8c/9 – Consultant Level Nurse or Director of Nursing
The final band is Band 8c/9 which is to work as a Consultant Nurse; to do so, you’ll need to be an expert within your field. This can only be evidenced through experience and study. Like Consultants in any other industry, Consultant Nurses will be tasked with helping to shape high-level decision-making.
Reaching this level will require a career-long pursuit of specialist skills and qualifications to supplement the vocational experience. Band 8c/9 nursing salaries start from £91,004 and go up to £104,927."

https://www.id-medical.com/nhs-nursing-banding-system/

Teachers can earn anywhere from £18,419 for an unqualified teacher, up to £125,098 for a leadership/head teacher

https://www.educationtay.com/teacher-pay-scale-uk/

Clearly some who show great ability, or ambition, will climb to the higher paid roles, as true as any career progression. The pay scales, within teaching and Nursing, are easily comparable with, and in most cases exceed, Engineering pay within the Telecommunications industry. When I met my Wife to be, she worked as an assistant in a superannuation department for the NHS, and regularly recieved flack from irate nurses complaining about the pension contributions removed from their wages, when they earned far more than her; She earned approximately £2,800, and the student nurses who frequently complained were earning around £3,000, with Nursing sisters on approximately £7,000, this was around 1981.
The icing on the cake is that Nurses can also do agency work as well as their full time NHS role. My wife's friend's daughter in law does agency work in the cosmetic surgery industry, as well as working as as fulfilling her role as an Accident and emergency Nurse at Band 8c apparently.

https://www.yourworldhealthcare.com/uk/news/can-nurses-work-in-the-nhs-and-do-agency-shifts#:~:text=The%20short%20answer%20is%20%2D%20Yes,as%20a%20temporary%20agency%20worker.

Is it any wonder that my wife's friends son drives a Tesla?

As part of my contract of employment, I was forbidden from working in other jobs, even during holidays.

"Fleccy if you think teachers and nurses are doing ok, you are completely deluded"

My wife's friends son is a teacher, and his wife is a nurse; They own a house, and he changes his car every couple of years, his current car is a Tesla. They're doing very well.

You should post on the Lloyds forum, rather than this one. You'll be far happier there, among others on the same wavelength; It's morphed into a political debating forum, with Lloyds rarely being the topic. Your last post seems a bit out there, so I think you'd be really happy in that Cuckoo's nest.

"Once again he’s called the wrong option with the RMT. Now it appears the Teachers, NHS, British Airways, BT even Barristers are going to be taking industrial action at a similar time."

The RMT strike isn't going so well, with working from home reducing the impact.
Teachers are on to a good thing, with the amount of paid holidays they get. I can't imagine they'll want unpaid holidays too, maybe they'll strike during the summer holidays.
When it comes to the NHS, the Government should do what BT's doing and give a flat rate rise, since Doctors & qualified nurses aren't badly paid anyway. It's the auxiliaries who do all the dirty jobs like cleaning up, and wiping ar5es, they deserve a better pay rise.
British Airways is a Spanish company, nothing to do with the UK Government.
BT's pay offer seems fair to me. If it was me I'd take what's on offer and vote against striking.
Barristers earn a fortune, they should wind their necks in and be thankful they're in a well paid profession, in my opinion.

Dividend reinvestment has fallen out of fashion, due to the decade long US bull market propelling US "Growth" stocks to dizzy heights, with the FTSE underperforming the US massively; Clearly this means, either the FTSE has to go up at some point, or the US needs to drop; In my opinion they'll probably never meet, but the percentage performance differences should narrow considerably. The historic move to Growth is clear to see, as evidenced by the performance of the Nasdaq, but recent evidence suggests the growth trend may be coming to an end, again evidenced by the Nasdaq. If the era of cheap money really is coming to an end, then it stands to reason that a risk off trend will take over, with investors preferring income over growth. Crypto's recent declines is further evidence of a trend reversal, and the rhetoric suggests that Crypto is following the Nasdaq down; In my opinion, Crypto isn't following the Nasdaq, they are both reacting to the same headline events, and fluctuating in tandem with risk off/risk on sentiment. The Crypto world is currently being supported by big vested interest money, with Sam Bankman-Fried bailing out Crypto firms BlockFi, and Voyager, holding off further carnage, but for how long? The Nasdaq/US stocks are currently finding some support, because a narrative is being pushed that the magic money fueled bull train isn't damaged beyond repair, it's just waiting at the station, ready to depart in the not so distant future; Is this true, or a false narrative pushed by vested interests pumping, so they can dump?

https://www.forbes.com/sites/johntobey/2022/06/24/exceptionally-good-conditions-for-stock-bull-market-launch-in-july/

https://www.cnbc.com/2022/06/22/sam-bankman-fried-rescues-crypto-lenders-blockfi-voyager.html

https://www.google.com/finance/quote/UKX:INDEXFTSE?comparison=INDEXDJX%3A.DJI%2CINDEXNASDAQ%3A.IXIC%2CINDEXSP%3A.INX&window=MAX

DT there is loads of content explaining the advantages of Dividend Reinvestment, but you probably already know that as you also hold dividend paying stocks yourself.

https://www.youtube.com/watch?v=irkYdLzKSyc

https://www.youtube.com/watch?v=-cc4HNi_ags

https://www.youtube.com/watch?v=s4g33b4fAbY

"I bet you'd sell if they put a spurt on and you actually made a gain, unlikely though with your three picks as currently demonstrated."

It would have to be big gains for me to sell any of my stocks, but I'm in no hurry as I'm getting paid to hold.

I always intended BT to be a long term hold, as things stand I'm looking at holding until at least 2030. There's a lot to like about BT:
£2.5 Billion a year cost savings by the end of 2025.
Big reduction in operating costs from PSTN switch off and move to cloud/Passive Optical Networks.
Pension trustees looking at insurance buyout of pension scheme in the next 10 years.
Debt reduction in line with drop in lease liabilities, on the back of the exchange closure program, plus a cut of the profit from Telereal Trillium repurposing the buildings and selling them.

Vodafone's a bit trickier, but they're a behemoth with lots of assets and good cashflow. I view Vodafone as the having the biggest risk of a dividend cut, but they're not currently signalling a future cut.

Lloyds is just dirt cheap; In fact Lloyds current share price defies logic, which is why I'm buying more as dividends become available.

"So do i. You'd never buy here because of whatever your hang up with this company is, but you are happy to continually tell others what to do."

You're correct, I wouldn't invest in any travel and leisure stocks, as the sector is volatile and subject to geopolitical macro events. The US Airline industry is currently in turmoil, Europe's going the same way. I'm amazed sentiment toward Airlines has held up as well as it has.