Performance18 May 2024 05:14
Back in the sunshine days of royal mail when I started it was a monopoly,so it was a license to print money. We were also government owned and on top of all that it was like a holiday camp. Very different now, and I'm not complaining we had the good times, and since the monopoly has disappeared and privatisation it's become very cutthroat business. Nearly retired now and also a shareholder privately as well as my free shares from privertisaton. At the moment at my place of work they are on a massive internal cost cutting exercise for the results this month, nothing unusual in this as it's a yearly effort from royal mail to make the bottom line look as good as possible. The downside is no more recruitment only agency staff, unveted which can't be helpful. And also back to there old tricks of not delivering letters for weeks on end. Obviously they have not made the mistake of documenting and emailing this time around. That's where Simon Thompson and Keith Williams were made to look like a right pair of incompetents at the house of commons select hearing. Must admit it was better than watching a good film. Then obviously after that disaster and industrial action someone high up had to pay for it . So it was CEO Simon Thompson,s time to be double crossed , stabbed in the back and flung under the bus. In fairness to him he was very inexperienced, never been a CEO and recruited internally on the cheap. Ie puppet fall guy for the board who really control in the background. As for the prevailing situation, yes totally agree parcels are where the money is, royal mail could smash the competition if the handcuffs were taken off. But as we know royal mail was sold on the understanding of the uso obligation law. That's in the past now and obviously something has to change to make it work better and become more financially viable. That's for the politicians and regulatory authority to sort out. Can't see that happening before I retire next year as we're leading up to an election. As we all know politicians are little weasel,s and won't want anymore mud sticking to them before the election is done and dusted, as royal mail is a sensitive tin of worms waiting to explode. As for Mr kretinsky I'm guessing with his bank advisors and couple of Dodgy labour advisors lobbying for him, eventually with assurances from him it will get over the line. At £3.60 it's a bargain,asset wise alone it's like buying a house for two firds of the asking price. I'm thinking it may still be worth the £4 a share long term. As for the results next week I'm hearing that we are likely to be looking at a small loss to maybe braking even if we're lucky. Back to Mr kretinsky, if all this goes to plan I believe the dust will settle for 18 months to two years. Then all agreements will be off followed by a swift break up of there various companies, followed by asset selling and keeping all the money making companies abroad. That's what hedge funds do for a living. Buy cheap, asset strip walk
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