The Truth as I see it !!

[The truth!]

Royal Mail have a real cash flow problem , meetings with Royal Mail senior managers have confirmed that compared to last year the negative cash flow is over 500 million adrift.

The 2010 agreement was based on Royal Mail`s business plan which is way off track as revison have not been completed and there is a question of whether the business can actually fund the agreement going forward.

Royal Mail are even thinking of lending more money to pay for their loan which is madness.

Whether you choose to believe this or dimiss this its up to you but if things continue as they are by August next year Royal Mail will have no cash flow for anything including wages !!! Now if things get worse then this point can be reached by April.

There are a lot more serious issues then doing a few more door to door or whether the agreement is good or not , this business is in a crisis and whilst we do not want or need priviatisation we do need a politcal solution.

[gb93]

Welcome back it's good to hear the truth when we need too

[fishtank]

we do need a politcal solution.

Why not?...it's politics of one kind or another that got us into this mess....any suggestions?

[DGP1]

How can RM run out of money? Made a big profit last year and is still delivering as much as they used to (in my office anyway) the only reasons I can see are that RM DIDN'T make a profit last year and it was falsified to give the senior men big bonuses or the DSA companies aren't paying their bills and are going to bring RM down.

[Cut Off King]

Hmmmm, I hear the "Back the CWU for action, we need you to make some more sacrafices" tone of voice

(Or as I believe ) "Prepair to bend over and take it " tone of voice

[baldrick]

So that should mean noone will want to buy RM then?

[fishtank]

Hmmmm, I hear the "Back the CWU for action, we need you to make some more sacrafices" tone of voice

(Or as I believe ) "Prepair to bend over and take it " tone of voice

Well....the truth is out there...you know what that means.

[postietaz]

cash flow problem didnt adam take it and line us up for prvte

[The truth!]

joke away ! Not intrested in a debate but picking up on one point Royal Mail made a operating profit as a result of the subsidy from the Government on post office counters which is coming to the end and as a result of the selling of property assets in mail centres and delivery offices which are one offs !! For a business with over 7.5 billion turn over the profits are not as high percentage wise as the parcels business GLS which Royal Mail purchased.

I come on this site again not to have a debate as you wont convince me and i am not going to convince you but to tell you information which you will not know. Whethet you believe it , mock it is up to you. Only time will tell whether the information I have given you is factual and whether your mocking was the right choice.

[postietaz]

same terms as the bankers please vince we deliver quids in dont deliver quids in can we replace adam for vince :cfo :cfo :cfo :mfo :mfo :mfo :mfo

[The truth!]

Hmmmm, I hear the "Back the CWU for action, we need you to make some more sacrafices" tone of voice

(Or as I believe ) "Prepair to bend over and take it " tone of voice

Your never hear that from me !! If you have already given up in your office then thats down to you. I have and will always remain someone who believes that you only get the best agreements in Royal Mail by fighting for it and leading the members in the right way locally in order to ensure that we get the right deal.

But a question as much as people moan at the CWU who is the person you will ask for help if suddenly Royal mail has a crisis and because the stationary office has found out and demanded payment for the million envelopes upfront that Royal mail cant afford the wages of its staff ???

[labbloke]

Always thought RM was still a Government owned, and as such doesnt really comply with normal business rules, ie we are owned by thye taxpayer, and as such would only go bankrupt if the country did, or and act of Parliament privatised us. Seems that the scare stories are starting early.

[Cut Off King]

Hmmmm, I hear the "Back the CWU for action, we need you to make some more sacrafices" tone of voice

(Or as I believe ) "Prepair to bend over and take it " tone of voice

Your never hear that from me !! If you have already given up in your office then thats down to you. I have and will always remain someone who believes that you only get the best agreements in Royal Mail by fighting for it and leading the members in the right way locally in order to ensure that we get the right deal.

But a question as much as people moan at the CWU who is the person you will ask for help if suddenly Royal mail has a crisis and because the stationary office has found out and demanded payment for the million envelopes upfront that Royal mail cant afford the wages of its staff ???

Yes I have all but given up, I have stood on the picket line, hour after hour ( not like some that turn up at 10 am and are gone at 10.15.) I have sacraficed wages & overtime to support others. I have worked to my time, cut off, defended other staff, given up my time, challanged managers, done research , wrote letters the list goes on......

But what I find is hardest to take is when RM does its worst against us and we stand united and put them in a corner,the CWU leadership lets RM off the hook and gives away yet another HARD FOUGHT FOR RIGHT ( remember - MANY people lost more than wages to gain out rights & allowances )

In recent times the CWU leaders seem only too willing to give up things that will not affect them personally.

And we pay the price

I am no militant, I do NOT want to strike at all. All I want is to do my job at a reasonable speed, not to make time...

But neither do I want to give up

However when the CWU is helping the other side, then what can you do ?

Local reps are great, they care.....But the further up the chain you go.......well ,politics happen

So forgive me if I don't show blind allegiance

[BELIAL]

Royal Mail have a real cash flow problem , meetings with Royal Mail senior managers have confirmed that compared to last year the negative cash flow is over 500 million adrift.

The 2010 agreement was based on Royal Mail`s business plan which is way off track as revison have not been completed and there is a question of whether the business can actually fund the agreement going forward.

Royal Mail are even thinking of lending more money to pay for their loan which is madness.

Whether you choose to believe this or dimiss this its up to you but if things continue as they are by August next year Royal Mail will have no cash flow for anything including wages !!! Now if things get worse then this point can be reached by April.

There are a lot more serious issues then doing a few more door to door or whether the agreement is good or not , this business is in a crisis and whilst we do not want or need priviatisation we do need a politcal solution.

What exactly are you hoping to achieve by posting this?

First off you would need to be a bit soft to accept any figures from RM management without having an independent accountancy firm scrutinize the books, the track record for number juggling is long . Wouldn't surprise me one bit if Jamie Oliver prepared their accounts.

For arguments sake lets say that financial statement is a 'true and accurate reflection of the companies trading position' (something one set of independent auditors could not say about a certain companies recent "regulatory accounts") It must be quite difficult to make a profit when you have agreed to deliver 30% of your mail traffic at a loss. Even more difficult when you consider that postage is offered at half the price that some of our "more efficient" European competitors can manage.
No amount of modernisation after all the modernisation and efficiency changes and 60,000 job losses will alter what is a politically engineered crisis.

I hope you're not saying that we should all work for nothing.

On a personal note ,the agreement being good or not is quite serious for me cos it affects my working life every day, and yes ,I did take a pay cut by losing D2D money.

I agree our only solution is political, but then wages ,terms,redundancy,pension cuts, they are all political questions

[MinisterofCucumber]

The Truth! (would be nice) has returned to reveal the latest crisis.

Hooper's original report concluded that RM management were incapable of running a privatised company themselves and so needed to find a proper business partner that could improve industrial relations by changing the 'them and us' culture and bringing along private sector experience and capital. As soon as Vince Cable announces that RM management will be allowed to run the privatised company on their own, a crisis appears that makes privatisation inevitable.

How many shares will managerial grades get?

Do the other vultures, who have just had their dinner snatched away from them, buy the idea that RM management are now competent enough to run a private company?