Royal Mail accounts to be revealed.......

[dvbuk55]

I have written to RM and have asked for the annual report and accounts under the freedom of information act 2000. They will now under law, have 20 days to respond.

I will keep you posted (no pun intended).

It is a very good idea however until such time as they are "finalised and proffered to companies house" I think you may find that they are not obliged to disclose the figures - they may even state that the information is "commercially damaging" if revealed earlier than obligated.

I would imagine many financial institutions and publications have asked for the same.

[dogfood]

I am expecting the response you have suggested, but thought I would give it a shot anyhow, not knowing too much about the legal obligations RM might have to adhere to if the request is submitted through the FOI act.

AL and AC might do something out of character and give a positive reaction. OK things are really getting on top of me if I believe that....

[dogfood]

I note that RM have said they will be publishing the annual report and accounts for last year on the 15th.

I am now claiming this has come about because of my request to see them under the Freedom of Information Act

[smokerjim]

I note that RM have said they will be publishing the annual report and accounts for last year on the 15th.

I am now claiming this has come about because of my request to see them under the Freedom of Information Act

Could this be why RM have agreed to meaningful negotiations? No hope of hiding the books for any longer, so go for broke ( & from RMs pov, maybe try & stiff the union before the truth comes out / nothing to lose after flogging the accountants half to death to cook the books ).

[DirtyHarry]

......... As some of the best works of fiction since the 'Harry Rotter' books.

[poppapump]

Today's Word - oppro.....thingy

How come no one is asking why the figures aren't ready to publish? They have audited the figures for the final quarters bonus which amounted to 33p - maybe they are afraid of the direct comparison of their bonuses and salaries to ours!

33p to £300'000 no much comparison eh??? :lfo :cfo how do u sleep at night?on a huge bed of money no doubt!!!

[dvbuk55]

I note that RM have said they will be publishing the annual report and accounts for last year on the 15th.

I am now claiming this has come about because of my request to see them under the Freedom of Information Act

I am not worthy!

[TrueBlueTerrier]

I note that RM have said they will be publishing the annual report and accounts for last year on the 15th.

I am now claiming this has come about because of my request to see them under the Freedom of Information Act

[bigsharkboy]

I note that RM have said they will be publishing the annual report and accounts for last year on the 15th.

I am now claiming this has come about because of my request to see them under the Freedom of Information Act

lets kick out dave ward and billy haynes and give the top cwu jobs to dogfood

[fedup postie]

Royal Mail posts first loss in six years
By Ben Hall, Political Correspondent

Published: August 15 2007 16:27 | Last updated: August 15 2007 20:55

Royal Mail slipped into the red for the first time in six years on its first and second- class and bulk business mail, incurring an operating loss of £12m last year after a profit of £197m in 2005-06.

Full story here http://www.ft.com/cms/s/0fd0eab2-4b40-1 ... fd2ac.html

[dvbuk55]

Has there been a serious analysis of the accounts yet or have they been taken at face value.

[rhino49]

They would have made an operating profit if they had paid their board and managers what they were worth in bonuses - I will expect them to face the same restrictions they are trying to place on us for the coming financial year.

[smokerjim]

I would presume it is only face value, cos it seems pretty bloody convenient that after making a profit for the last six years, the first time there is a national pay strike & bingo, instant loss that previous financial year

Maybe there would be a bit more money in the pot, if we didn't employ six of the top ten highest paid civil servants in the country, they didn't award themselves huge ( and difficult to justify ) bonuses ( and how can they justify those bonuses after making a loss? ) and pay at a vast sum on televisions that no one watches, due to looped broadcasts of the most self aggrandising propaganda since the Russians were on the outskirts of Berlin! :lfo :cfo :lfo :cfo :lfo :cfo

[F0zziebear]

From my experience:

When Adam & Al joined they ensured the bad news was all put in the accounts up front.

It is almost impossible to completely unpick RM's accounts. They have all sorts of cross-product subsidies that are technically illegal and anti-competitive, and I'd be surprised if they were using 'creative' accountancy. This is not exactly illegal but there are ways of presenting a story that they want. Trust me I have personally seen this.

I reckon the following might be happening: If RM can put up prices they might be able to afford a better pay rise in exchange for redundancies. This would unite the unions and management against the regulator.

What do people think of that story? This way everyone comes out of this smelling of roses and blaming other people except themselves

Fozz

[deadbox]

About 6 weeks ago one of my customers advised me as to what he would do about RM profits.......

I E-Mailed the following message to Dave Ward....

"The following course of action was recomended to me by one of my customers who has been involved in PR for multi million £ companys
He supports the Posties fight to maintain the Royal Mail as a public SERVICE
He said that you NEED to hire a profesional PR company to get you on all the TV / RADIO stations.... ( And News Papers )
You should CHALLANGING ALLAN & ADAM to a FACE to FACE DEBATE ( repeatedly......)
You should MAKE great play about the profits NOT BEING PUBLISHED ! ( May 17 2006 / May 18 2005 / ??? ?? 2007 )

When the PROFIT figures are published by RM, the CWU should HIRE a highly rated accountancy firm to go through the R.M. Accounts and expose where RM have massaged / hidden money ( e.g. money put in to special project that don't lead anywhere / investing in technology that won't be use for several years, just to spend money and lower this years revenue.....But low & behold....Next year....we suddenly make a massive profit....AND ALL THANKS TO ALLAN PUSHING THROUGH HIS CHANGES.....good old Al....then he leaves with a parting gift of £££££££ )

Only by hiring a Firm with a high profile / reputation within the financial sector can the CWU repudiate RM claims of not making any profit

WE ALL KNOW BY THE AMOUNT OF EXTRA CRAP THAT WE ARE TAKING NOWADAYS THAT WE ARE MAKING SHEDLOADS OF ££££'s

Thanks for listening......"

I just hope that some of this sinks in at CWU headquarters, WE NEED TO GO THROUGH THESE ACCOUNTS WITH A FINE TOOTH COMB !