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What’s has your trouble at the Post Office got to do with RM?
Sean, that is the best post on this board for months.
It’s been called in as the government see it as a security threat to the UK, what’s all the excitement for. He could just as easily be dumping his stock shortly.
I’m going to go against the grain and say I don’t expect much of a deal with the CWU that benefits either the business or shareholders, whatever happens it will be mega expensive. Williams honeymoon period will be over shortly as far as the union are concerned.
Still a long term follower and not a holder.
Having read the papers in the last few weeks I’m at a loss to understand what is really going on here, is Rico Black honestly trying to steer this company through the Coronavirus from the safety of his Swiss mansion, we have all seen CEO’s of many top listed company taking a paycut to take one for the team so to speak but it seems he won’t even leave his front room, at the very least he should be on the ground surely.
I have read all the posts on this forum (and others) about some changes he has tried to bring in this week, how can you expect to make any changes what so ever when you are not at the coal face yourself.
The mind boggles with this share, what the hell is going on? How long are the institutions going to put up with this before they either sell out or get rid of this board, not much longer I will guess. Not worth anymore than £1 with this shower in charge.
Stable long term business it is not.
I have joined in at 28.5p and added it to my LISA.
Having sat on the sidelines watching what is going on here it was clear this was a business in terrible trouble even before this deadly virus started to circulate like wildfire. It’s hard to disagree with anything the union are saying, it’s clear now with the current situation that this is a business that never should have been privatised and has been badly run. They must be bleeding cash at a horrendous rate and I think when the current crisis is over not only in this country but worldwide people will be questioning what is important to society.
I had this on my watch list but I would say it’s looking at a government intervention in the coming months and that never ends well for shareholders, a sad situation all round.
I have just seen some correspondence just released from the CWU regarding at meeting today at 1300 regarding a Health and Safety, seems a very sensible move but the person who sent it to me who works for RM said the network is going to be screwed.
Sounds like chaos Isleworth, make sure you take care.
Surely our postman and women will be stood down afew days a week next week to save the risk to them. Can’t see there being much demand when this really gets serious. I see from a press release Special Delivery has gone?
How long before they have to issue the dreaded profit warning?
Their family
When the world is in a situation like it is, almost war like mentality sets in. People are only interested in the essential rather than the luxury’s and non essentials. A lot of firms are going to goto the wall in the next few month so many will be worrying about there jobs as well, most won’t even be lucky enough to get sick pay if they are ill.
As I said yesterday Monday is still along way off, cash is where to be until the picture is a lot clearer.
Monday is along time away.
Trump doesn’t sound a well man.
I see the head of the CWU is also unwell and has called on RM for a truce while this national emergency is going on.
Why would anybody want to hold anything over the weekend, it’s not all going to disappear over the weekend is it.
Thanks for the post Isleworth, this is what I was trying to get to the bottom of with my research and found it unbelievable that RM don’t have a policy on this as it’s clearly set out in employment law.
I was debating if I should invest here but glad I have stayed well away, RM will be hurt massively by this Virus, it’s ok saying people will be ordering more online which is true but if the warehouse’s sending the stuff are not stock and staffed then it’s not going to turn up at anyone’s door is it. The network will be crippled in the next few weeks with staff self isolating imo. Sorry for all you holders, good luck.
Sitting from the sidelines and observing I couldn’t agree more. It all looks very bitter and I assume the government wanted it off their books as they could never tame the union. Is it true that Rico has not even sat down in a room with the union and has just left it to his juniors to pass on messages? Some leadership that, surely he should be getting in that room and agreeing something in the middle.
I will sit on the fence some more and seeing how it pans out, it’s all well and good having assets etc and thinking they will support the share price but if this gets nasty quickly like it is currently looking you could end up having to dispose of those assets at fire sale prices to cover losses.
I’m afraid to say the market doesn’t look to have it wrong and I would expect the price to drop quickly to around 120 if the industrial environment goes south much more.
Thanks Isleworth
Seems abit of a mess, much like a lot of other things within the company it appears. Why would they need to deal with the union though, they either have to legal pay it or not pay it in law. There’s been several cases in the past 2 or 3 years before the courts which have ruled that it legally has to be paid so it will be interesting to see how it turns out.
You mentioned £1m a week it could cost, why so high? Surely overtime in a business should be at a minimum if management are managing properly. Is there really that much overtime taking place?
Thanks for the informative reply.
I have been doing some more research across various boards this weekend and was wondering if anyone knows if the company has put out any guidance regarding how much it is going to cost them to fully comply with the U.K. overtime holiday law. I’m not sure if how much overtime is worked within RM (it sounds like a lot though reading some sources). Various people state they have been getting out of court settlements for several hundred pounds and others are saying there is an upcoming court case against RM. Does anyone know the figures it’s likely to cost the company?
Thanks