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Dispute update

10 Feb 2020, 18:38

Sugar wrote:
wandle wrote:
wacko74 wrote:I'm more convinced than ever that Rico is doing his best to talk the business down in order to put pressure on the CWU and OFCOM to accept the changes he wants to make... I suspect he will be delighted at the latest share price.

If that were true, why would he buy 500,000 shares now, when he could buy when the price goes lower??


IIRC he has to as its all part of his contract and having a set monetary value of shares at all times.


Hi Sugar, I think you have misinterpreted the nature of Back's contract, it is only the shares he is awarded as part of his bonus that he needs to retain, until he meets the designated criteria. This has nothing to do with personal acquisitions.

I have added a link to RB's contract for clarity

https://www.londonstockexchange.com/exc ... 11954.html

regards

Dispute update

11 Feb 2020, 13:29

mickeymacca wrote:
Sugar wrote:
wandle wrote:
wacko74 wrote:I'm more convinced than ever that Rico is doing his best to talk the business down in order to put pressure on the CWU and OFCOM to accept the changes he wants to make... I suspect he will be delighted at the latest share price.

If that were true, why would he buy 500,000 shares now, when he could buy when the price goes lower??


IIRC he has to as its all part of his contract and having a set monetary value of shares at all times.


Hi Sugar, I think you have misinterpreted the nature of Back's contract, it is only the shares he is awarded as part of his bonus that he needs to retain, until he meets the designated criteria. This has nothing to do with personal acquisitions.

I have added a link to RB's contract for clarity

https://www.londonstockexchange.com/exc ... 11954.html

regards


Thanks for clearing that up.

It would seem then that there are question marks over why he and other senior managers have been snapping up such large amounts of shares as the price plummets. It certainly doesn't look good.

Dispute update

11 Feb 2020, 17:02

No probs Sugar, to be fair you were picking you from your memory, so apologies for a being a pedant (I actually thought IIRC was a financial regulation you were referencing, I understand now it means If I remember correctly!)

From a shareholders point of view I personally would be reassured if the CEO is snapping up more and more shares, however I think it may indicate he is confident of a positive outcome from whatever plans he has, which is likely going to be to the detriment of us on the ground. I read on a shares forum speculation that Rico could be priming RM for a split between the letters and the parcels to become separate business entities, basically ditch the less profitable part and focus on where the main revenue is coming from. As I said though that is speculation from someone who is probably less informed than me,and that doesn't count for much!

regards

Dispute update

11 Feb 2020, 18:26

"In line with Royal Mail Group's other executive directors, Rico will be expected to retain any share-based awards until he has a shareholding equivalent to 200 per cent of salary"

Does this mean once he holds shares to the equivalent of 200% his salary (£790k) he can sell the lot?

Also, this twats yearly salary is £790k a year! That would take a full time postie 31 years to accrue! Not to mention the private healthcare for him and his family. I spose all that walking he does out in the Great British weather does take its toll :nana

Dispute update

11 Feb 2020, 19:32

mickeymacca wrote:main revenue is coming from. As I said though that is speculation from someone who is probably less informed than me,and that doesn't count for much!

regards


It's certainly speculative. But it does make sense.

Get larger and next day parcels (ie the most profitable) done on LATS by folk on mainly part-time and newer, crapper contracts.

Letters and small packets (less profitable) done by mainly full timers and longer serving part-timers who are on expensive contracts (relatively speaking)

After a while pretend to be very worried by the discrepancy in profitability between the two parts of the business and suggest that a split might benefit both halves (perhaps 'easing the load' on letters by removing more parcels from them.

Bit later, having split the business, sadly conclude that letters is just too unprofitable and fold that business leaving a 'lean and competitive' parcels business with staff on insecure and part time contracts who are cheap and who need to work any overtime that might be offered, convenient to them or not.

Dispute update

11 Feb 2020, 20:37

DGH wrote: Bit later, having split the business, sadly conclude that letters is just too unprofitable and fold that business leaving a 'lean and competitive' parcels business with staff on insecure and part time contracts who are cheap and who need to work any overtime that might be offered, convenient to them or not.

Would OFCOM actually allow them to do that if there were no company who could take over the USO?

Dispute update

11 Feb 2020, 21:58

SpacePhoenix wrote:
DGH wrote: Bit later, having split the business, sadly conclude that letters is just too unprofitable and fold that business leaving a 'lean and competitive' parcels business with staff on insecure and part time contracts who are cheap and who need to work any overtime that might be offered, convenient to them or not.

Would OFCOM actually allow them to do that if there were no company who could take over the USO?


Almost certainly not. But what if the USO were changed in the interim to allow delivery every 2, or even 3 days for letters and flats? Then the 'New RM' with it's s**t terms and conditions could pick up the 'New USO', employing staff on the same shot T&Cs.

Obviously, this is all speculative. But it's not in my view wholly unlikely as an 'end game' for RM.

Dispute update

13 Feb 2020, 09:24

DGH wrote:
SpacePhoenix wrote:
DGH wrote: Bit later, having split the business, sadly conclude that letters is just too unprofitable and fold that business leaving a 'lean and competitive' parcels business with staff on insecure and part time contracts who are cheap and who need to work any overtime that might be offered, convenient to them or not.

Would OFCOM actually allow them to do that if there were no company who could take over the USO?


Almost certainly not. But what if the USO were changed in the interim to allow delivery every 2, or even 3 days for letters and flats? Then the 'New RM' with it's s**t terms and conditions could pick up the 'New USO', employing staff on the same shot T&Cs.

Obviously, this is all speculative. But it's not in my view wholly unlikely as an 'end game' for RM.

If they did allow very 2 or 3 days for letters and flats then that would just about be every MC become parcels only. You could have a select few or maybe even just 1 central one which could deal with all the letters and flats (would sequencing even be needed in that scenario?)

Dispute update

13 Feb 2020, 11:37

I might be slightly going off topic (I do apologise) but there is something that Terry mentioned in the early days which nobody has picked up on or had a view so maybe it has no relevance or it is now done so you can't turn back the clock (so to speak) but what do people think of the unite union which is part of the TUC? I was always under the impression that if a union was a member of the TUC it always was in solidarity with other unions especially with industrial unrest :hmmmm but unite which is who we all know is the managers union was giving sound bite to the effect of we will stand by the CWU and also ballot our members ;liar then they got their whatever % pay and £1000 bonus and f@#k you CWU we got what we want now our members are going g to screw your membership or have I got the wrong end of the stick? I don't think I have? And wouldn't this dispute have been a lot shorter and resolved a lot quicker if the managers union (unite) actually had a backbone and stuck by the CWU and whats to be said/done when the next TUC conference is upon them in September (I think that's when it on) :cuppa because as we all know it was clearly a bribe because if they had stuck with us surly executive action could not be implemented :speak to the hand so I'm putting a percentage of blame on that spineless union (UNITE) and we should always remember what that union has done :no no

Dispute update

13 Feb 2020, 11:57

mickeymacca wrote:No probs Sugar, to be fair you were picking you from your memory, so apologies for a being a pedant (I actually thought IIRC was a financial regulation you were referencing, I understand now it means If I remember correctly!)

From a shareholders point of view I personally would be reassured if the CEO is snapping up more and more shares, however I think it may indicate he is confident of a positive outcome from whatever plans he has, which is likely going to be to the detriment of us on the ground. I read on a shares forum speculation that Rico could be priming RM for a split between the letters and the parcels to become separate business entities, basically ditch the less profitable part and focus on where the main revenue is coming from. As I said though that is speculation from someone who is probably less informed than me,and that doesn't count for much!

regards


No offence taken mate.

Have thought for sometime that the end game is separation of parcels and letters and for over a decade they've been moving us closer and closer to the Dutch model of working with an initial 5 day a week service for letters/flats and going down to a possible 3 day a week service if/when letter volumes decline further. Whether they do that with letters still part of the group or they hive us off back to the government under the guise that it's going to hamstring the company as a whole if they don't.

The union warned us in office meetings all those years ago that they wanted a Dutch style model but very few took any notice and it was just business as usual for getting finished early. And now we find ourselves staring that very thing straight in the face with possible worst T&C's and huge walks with later starts and finishes.

Dispute update

18 Feb 2020, 17:17

Both sides meeting again for talks on Thursday. Sounds like they won't even make it into the afternoon after listening to Tel.

Dispute update

18 Feb 2020, 17:25

RTP wrote:Both sides meeting again for talks on Thursday. Sounds like they won't even make it into the afternoon after listening to Tel.


You have to play up your part if you're going to eventually ask the membership to swallow a bitter pill.

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