Member Info for mike1974

JB- You seem to be missing the point I'm trying to make, yes obviously RM management want the business to succeed, but what I'm saying is they're possibly (hopefully?) playing the long game here with regards to getting the USO reduced by talking down the current and predicted future state of the business.
They can hardly make a case for the USO being overly burdensome whilst at the same time announcing record profits and a bright future.

Either way they're certainly doing the shorters work for them when it comes to manipulating the SP downward.

Maybe ''cooking the books'' is a slightly too strong and emotive phrase to use.... but senior management certainly have a track record of painting an overly negative and pessimistic picture of the state of the business and it's future financial situation in order to further their own agenda....as I said, usually in order to use it as a stick to beat the workforce with.

I fully agree that any postie can see how busy it is, especially with pkt volumes and RM don't appear capable of turning this increased workload and turnover into increased profit.

However, remember, RM senior management have a long history of cooking the books and making finances appear WORSE than what they are... usually done as a stick to beat the workforce with.

I can't help thinking they're currently doing the same again, both to beat the workforce AND to beat the USO... with the time approaching for it be reviewed they can hardly claim it's too onerous and commercially restrictive in it's current form if they're making record profits.

But a typical week for RMG... In fact a typical day sees this one go up and down more times than the proverbial...

Doubt it, I'm still convinced that RMG always seems to act contrary to the wider market.

It can be very frustrating being a postie as you generally get to know everyone's business in the community... I know of people on tax credits living mortgage free in £400k houses and driving brand new Range Rovers all given to them by mummy and daddy.
It applies across the spectrum from the single mums who can't keep their legs shut to the ''poor pensioners'' living in luxury to the people with non-viable hobby businesses such as a facebook face-painter a cupcake maker.... all receiving tax credits.

They've not stopped it, they've allowed posties who had pre-elected to sell (prior to the crash) to cancel their obligation to sell.

Rather than this simply being a case of the new CEO ''kitchen sinking'' and looking to take all the credit for subsequently turning things around I'd like to think there's a bit more to it and it's possibly the start of a campaign by the new CEO to get the USO revised.

When it comes up for review RM can hardly appeal for a reduction in the USO on the grounds of it being onerous and burdensome if they're continuing to make record profits.

Possibly a case of short term pain for long term gain?

My manager is practically begging me (and most other posties in my office) to do overtime, work days off etc most weeks. Delivery offices are already being ran on less than a skeleton staff. How do you suggest these further savings and efficiencies are to be achieved?

This SP has always been prone to overreacting to bad news, it even has a habit of dropping when perfectly acceptable results are announced.

I think this doom laden statement is the start of a campaign by RM aimed at getting the USO revised and reduced.

RM bosses have a history of announcing overly gloomy figures when it comes to revenues, profits, productivity and supposed declining mail volumes. (Any postie can tell you all about the great 'colleague share' con) this doom mongering is usually used as a stick to beat the workforce with.

RM need to demonstrate how cumbersome the USO is in it's current form by claiming profits and revenues are down because of it, reducing the USO is the only way that major efficiency savings can be achieved, the workforce is already cut to the bone with offices understaffed and constantly reliant on workers willingness to do overtime in order to get the job done

What is this two year 12% pay deal you speak of? I think you need to do a spot of fact checking before posting.

I've said before that RMG often seems to defy the overall market for no obvious reason.

It frequently seems to be the way that the market falls, RMG rises... The market rises and RMG falls!

Well a quick update and summary from the coalface of what is supposed to be a ''light'' summer period for whoever may be interested...

Mail volumes - One of the heaviest summer periods I can remember (in 17 years) certainly the heaviest for the last 5 years for recent comparison, so the impact of GDPR appears to be zilch despite what the naysayers might like to want us to believe.

Packet volumes - Higher than ever, all throughout the summer period, at least 2 days a week, every week where we've had ''Christmas Pressure'' levels of pkts i.e. a full York per walk.

I suppose the concerning aspect from an investor point of view is that RM really should be turning this undoubtedly increased workload and turnover into increased profit.

No, there was a previous ballot for strike action several years ago (can't remember just when) that RM also got ruled unlawful on some technicality.

I was referring to the lawyers being successful at getting two completely different strike ballots ruled unlawful.

Given how successful RM's lawyers are at outwitting the union hopefully they can prove their worth in this case too.

Ofcom really does have it in for RM yet they seem virtually toothless when it comes to any of the other companies that fall under their remit.

Any posties on here going for this?
Seems a pretty good (and tax efficient) deal as long as you're prepared to hold on to the shares long term.

Fusion98 - This is a Supreme Court ruling that will have a major bearing on all future decisions in cases brought by ''self employed'' gig economy workers, whether they're plumbers, Deliveroo drivers or Hermes/DPD/Yodel couriers.

BIG implications for RMG's competitors in the parcels market, who almost entirely rely on a ''self employed'' workforce of delivery drivers.... https://www.bbc.co.uk/news/business-44465639