Member Info for Time2Kill

DW gave a brief update from the picket line earlier, talks continued yesterday and the CWU is waiting for Simon to confirm they will continue tomorrow and into next week.

I cover anything from 20K to 30K on a long day, which is a similar mileage. That also includes pushing a full trolley at the start of the walk!

I cover anything from 20K to 30K on a long day, which is a similar mileage. That also includes pushing a full trolley at the start of the walk!

Or the uplift could be because there's hope of an agreement with the CWU, I sense this more important than DP's update?

One full York of parcels is the norm for a Saturday in most DO's, unless you work in a DO of just a handful of posties?

Further talks now planned for Wednesday, hopefully that means there's potentially some light at the end of the tunnel.

The CWU are now threatening to dispute Xmas post if the disputes not settled, RM's response is to send parcels 2 or 3 days earlier, I'd make that 2 or 3 weeks early if the dispute isn't settled by the end of November.

Problem is what would Labour have in store for any individual who had built up any savings or property equity, which I guess the majority of this forum's users have, unless they are truly hopeless when i come to investing.

When and where did ST suggest the review will take until December?

Don't you mean "hope they'll be bent...." I'll be a bit surprised if the Government just give the green light hand over RM to an East European, who's apparently made his fortune from piping Russian oil across Europe.

As far as the cards on the table, keep on hoping for that as the Government will seemingly only give a "yes or no" answer and neither Thompson doesn't seem to want to put any cards on the table as regards to what pay rise etc he's ultimately prepared to offer.

It sounds like whatever decision they make the reason for making such a decision will be kept a secret from all the parties involved? I wonder if Truss really wants to hand RM over to foreign owners, particularly one with loose links to Putin?

https://voxeurop.eu/en/how-the-war-in-ukraine-is-affecting-the-business-of-czech-fossil-fuel-magnate-daniel-kretinsky/

Have you been into a DO this week has mine is totally chaotic with trays after tray of undelivered mail on rounds which are covered and rounds uncovered just left, I've personally never seen my DO in a worse state, even when we had a number of staff off due to COVID.
As far as OT pay being less than the normal rate that is only marginally less for most posties.

Given you clearly have inside knowledge can you explain:
what will happen if posties continue to strike v what will happen if they don't strike and the CWU just accepts all the proposed changes?

The view from posties on RM chat is there's a good chance this weekend's strikes could be called off, if the talks are positive rather than Simon Thompson with no improved offers. There's no way RM can afford to loose all the Amazon etc deliveries generated by Black Friday.

I think the words were "RM are not in talks" which doesn't mean they weren't in the past or will be again if Rees-Mogg gives VESA the green light? Plus I assume if they are in talks and it leads to a deal Thompson can just say he was under no olbigation to tell the CWU the truth as if he had done he might have prejudiced any talks?

Anyway who actually believes some kind of talks haven't taken place, if they haven't then why has Rees-Mogg got involved, as surely VESA could have just told him that they never intended increasing their holding above the present 25% holding?

https://www.google.com/search?q=postnl+share+price&rlz=1CAOWOB_enGB1002&sxsrf=ALiCzsYdq_q67b7IoBxAqLprf_jsa6ifGg:1663759230599&source=lnms&sa=X&ved=2ahUKEwjB0LmP4qX6AhXMQcAKHWZTBSEQ_AUoAHoECAEQAg&biw=1366&bih=617&dpr=1

PostNL shareprice seems to be on a similar decline to RMG's!!

Will Rees-Mogg with Truss' approval really sanction the selling of ROYAL Mail to a Czech with faint links to Putin when all our rumoured policies, NI cut, stamp duty cut, etc, seem to be just attempts to boost Tory support?

Debt doubled in a year to £985m, where's all that been spent??? Meanwhile RM claim they can't afford just £100M or so extra to give their staff a decent pay rise!

Shares in Royal Mail crashed 8 per cent on Friday following a profit warning from FedEx, the global delivery firm. JP Morgan, the investment bank, has also warned that Royal Mail’s dividend may come under threat.

Royal Mail says it has 40 per cent of the UK parcel delivery market but S&P reckons it is losing share to DPD, Amazon and Evri, the delivery firm previously known as Hermes.

It believes the company will start taking mitigating action to offset falling cashflow. “Such action could include reducing discretionary capital expenditure, reducing or suspending dividends, as it did in 2020-21 at the onset of the pandemic, and undertaking sale and leaseback transactions,” S&P said.

Royal Mail declined to comment on S&P’s decision to put it on negative watch list

https://www.thetimes.co.uk/article/royal-mail-in-a-tight-spot-as-it-fights-to-avoid-debt-downgrade-87jsqz0wc

Monday September 19 2022, 12.01am, The Times

Royal Mail is struggling to deliver profits in the UK as the online shopping boom fades and its workforce threatens more strike action
Royal Mail is struggling to deliver profits in the UK as the online shopping boom fades and its workforce threatens more strike action

Royal Mail may have to cancel its dividend and sell off property if it is going to weather the storm of a falling parcels delivery market and worsening industrial relations this winter.

That is the warning from Standard & Poor’s, the credit rating agency, which has put the privatised postal group on negative watch with the possibility of a downgrade of its debt to a “speculative” for bond investors. Poorer ratings mean more expensive borrowing.

The warning came as S&P calculated that Royal Mail’s funds-from-operations-to-debt ratio — a key metric for calculating whether a company can service its borrowing from income alone — has fallen below 45 per cent, a red flag for the ratings agency.

Having posted record profits during the pandemic through the boom in online shopping and home deliveries, Royal Mail in the UK is losing £1 million a day. That market has gone from returning to normality to worsening as consumer confidence withers in the face of a cost of living crunch and an impending recession. Online shopping fell 9.5 per cent year on year, official figures for August show.

Royal Mail, which can trace its roots to 1516 when the first postal service was set up during the reign of Henry VIII, has two main businesses: its British-based letters and parcels operations that carry the Royal Mail brand; and its GLS international division.

ADVERTISEMENT

The group is being propped up by its successful and profitable European and US courier operations, which it has said it may demerge. The group is carrying £985 million of net debt, which has doubled year on year.

The company has warned that its financial position will worsen if it cannot reach an agreement with striking postal workers in a dispute over pay. The pay deal is also tied to changes in parcel sorting automation which the company argues need to happen to return the business to profitability.

S&P says if Royal Mail falls below that 45 per cent threshold it will look again at its BBB rating. “The negative outlook reflects that we could downgrade Royal Mail in the next 12 to 24 months,” the agency said. It is forecasting sharply falling operating income from a 6 per cent to 8 per cent fall in parcel volumes this financial year, with letters in chronic decline at up to 10 per cent a year.Royal Mail in a tight spot as it fights to avoid debt downgrade