Member Info for OliGarch

Boeing driver, if you sold your shares in December at around the 500p mark them I wouldn't worry that you missed out on the 13p autumn dividend payment as you are still quids in.....ker-ching....

So the new Secretary of State for Business, Energy and Industrial Strategy is Rees-Mogg. It will be interesting to see how he will view the VESA situation?

AngerSharkz, I am of the opinion that VESA/Kretinsky have had Williams and Thompson in their back pocket for some time now.

I find the whole situation rather intriguing, like watching a car crash in slow motion. What is now clear is that Royal Mail is going to be struggling for the rest of the financial year (and possibly longer) regardless of the outcome.
Looks as though Truss has appointed Kwarteng as Chancellor so the buck will be handed over to the incoming BEIS minister.

The National Security & Investment Act 2021 section relating to the 17 categories of which communications is one, states;
"As a regulated sector, the mandatory notification requirements in the Communications part of the regulations are informed by existing legislation, primarily the Communications Act 2003, in order to provide clarity and consistency across the regulatory frameworks".
The Communications Act 2003, part 1 section 2A
https://www.legislation.gov.uk/ukpga/2003/21/section/2A
Includes;
(a)telecommunications,
(b)the management of the radio spectrum, and
(c)postal services.

Mike, how so? Peaky reckons that Herpes/Evri will be getting the business while RM workers will be looking forward to the sixteen hours tax credits gig.
Incidentally, I had a chat with our Evri delivery driver and his son today. He gets paid £1.30 per drop but works for a company that is sub contracted to Evri. Someone is making a fortune for being the middle man here? Is this you Peaky?

Oh Peaky, you are so behind the times. Are you sure that you aren't a 1970s workshy militant....lol
"Hermes, the courier firm marred by allegations that its drivers mishandle parcels, has changed its name to Evri, it has been revealed. According to the delivery brand, the decision comes after “two years of dramatic growth” which put the business through a “major transformation programme”.
8 May 2022

Energy price cap..... Fire fighting by the current Government to compensate for the failure of previous administrations that were unable or reluctant to make proper security arrangements for UK utility infrastructure.
Still, if you sell your infrastructure and resources to other nations them eventually you will pay the price.

Ispy, I can't definitely confirm that Evri have taken some of the Parcelforce/GLS work however at the time of the announcement he did say that his workload had increased by around 40% which he wasn't complaining about at the time as he was getting £1 a delivery.

He also said that there's been a lot of missing parcels at his Evri depot since June and not uncommon for there to be five or six parcels missing from rounds when they scan the items onto their vans. This has affected all delivery drivers in his depot and it seems that the parcels haven't made it from their hub to the depot for delivery. When they query this the depot managers don't have a response.

Ispy, my daughter's boyfriend has been an Evri delivery driver for over there years and he is less than happy with the situation.
He has interviews with Parcelforce and also a local builder this week.

Arsenal, my thinking was that if Evri start struggling for owner/drivers and are in danger of not meeting their customer commitments then they will start dumping mail onto Royal Mail although I'm not sure how much RM would gain.
RM workers are in a better position thanks to the negotiating power of collective bargaining so long may this continue.

I realise that this is an article about FedEx however it could equally apply here as well?
Evri have plans to slash their delivery payments to drivers from £1 to 60p. Add to that the cost of owning and running a van and it makes things very difficult.
https://www.dailymail.co.uk/news/article-11175639/FedEx-Ground-delivery-network-brink-COLLAPSE-54bn-conglomerate-refusing-act.html

Last week, Grant McPherson (Chief Operating Officer) issued the QofS results for 2022 Q1.
"We delivered 96.1 per cent of Second Class mail within three working days against a target of 98.5 per cent and 85.1 per cent of First Class mail the next working day against a target of 93 per cent.
During Q1, we have seen steady progress in both our First Class and Second Class mail performance when compared to the previous quarter.
Nonetheless, these figures are clearly disappointing".

Will there be more fines from OFCON as a result?

Due to the contrary nature of this stock, I anticipate the SP to rise on this latest news....lol

Redceo, with regards to the share buyback scheme. RMG purchased 43,806,525 shares at a cost of £201m averaging at 459p per share so presumably this only benefits the shareholders when the SP is above this price?
In the current situation it just looks like £201m down the tubes?

Redceo, very true. I suppose that is why they are able to get away with it?
It wouldn't surprise me if the BoD now started to seriously consider some sort of mass equity release on the RM UK estate in order to raise some more cash to convert into massive bonuses.
Asset stripping....why wouldn't you?

It does appear that the current CEOs and CFO have their fingers in the till and don't particularly care if anyone else notices. The culture of rewarding failure to those in charge is shocking yet the shareholders seem to accept this?

As we explained in our 2022 Annual Report, earlier this year we delayed setting targets and granting 2022 LTIP awards due to the continuing uncertainty around the long-term business environment resulting from the geopolitical uncertainty in Europe and the status of pandemic restrictions in our markets.
Our intention at the time was for these awards to be granted by August. Due to the continuing business uncertainty, these awards were granted on 1 September 2022.
However, the geopolitical and economic uncertainty that caused us to initially delay setting targets has further increased since the start of the year with high rates of inflation and weakening retail trends impacting the parcels market. In addition, for Royal Mail there is the unknown impact of industrial action due to the ongoing dispute with the CWU. These exceptional times means that there remains too much uncertainty to make reasonable three-year revenue and profit forecasts to use as the basis for LTIP targets.
Therefore, for 2022 LTIP awards the Committee has agreed that we will not set three-year Royal Mail operating profit and parcel revenue targets, and instead will replace these elements of our performance framework with relative total shareholder return

The CWU @CWUnews
24 hours after postal workers took strike action, Royal Mail Group handed out over 800,000 extra shares to their chief financial officer and two CEOs
But they have no money. What a disgrace
Mick Jeavons 239,361
Martin Seidenberg 288,888
Simon Thompson 299,202

It certainly looks as though the BoD are doing their best to upset the workforce. Almost as though they are fueling the strike action?

sean989, many thanks for your well constructed post.
The Q1 RNS states "Outlook for FY 2022-23: weaker parcels market and lower than anticipated efficiency savings in-year. Provided progress can be made on above actions (changes to Ts&C's), now likely to be around breakeven at adjusted operating profit level, excluding any impact from industrial action.
So, now there has been a couple of days of strike action and the postal workers Ts&C's are unchanged plus we are already 40% through the financial year, then that would lead us to believe that RM UK will definitely be loss making for 2022/23. The half yearly results should be an interesting read?