Thompsons Apology To The Public

[antcpfc]

Just curious and not defending Simon Thompson but??

What exactly is the false information you believe he is giving out?

His quoted figures about loss making millions for a start
The man’s a f***ing liar

Now this is the problem I have, you have zero evidence what he is saying is untrue.

Simon Thompson on the other hand has a Fiduciary duty to tell the truth being CEO. Anything less will result in criminal sanctions as it can manipulate the share price his comments on behalf of the company.

Every post you make is against the union and putting Thomson’s side.

[redlen]

You are in error

Neither supported Royal Mail or the CWU in my posts

[TopperGas]

Just curious and not defending Simon Thompson but??

What exactly is the false information you believe he is giving out?

His quoted figures about loss making millions for a start
The man’s a f***ing liar

Now this is the problem I have, you have zero evidence what he is saying is untrue.

Simon Thompson on the otherhand has a Fiduciary duty to tell the truth being CEO. Anything less will result in criminal sanctions as it can manipulate the share price his comments on behalf of the company.

As others have posted how have RM gone from making £350m/£450m profits at RM to losing £1m par day/£350m in just a year, something doesn't add up as surely just COVID couldn't have brought in the £700m+ difference in profits/losses?

[redlen]

Those profits/dividends were paid on the previous 12 months financial figures so irrelevant in the argument.

Though agree they were fulLy aware the Covid boom was over so should have left some of that profit as a reserve fund for future years.

But Royal Mail has done nothing wrong, though unethical and irresponsible

[SpacePhoenix]

Add to that we are far from on our own with Railway Workers, Train Drivers, Nurses, Lecturers, Dock Workers, various Council Workers, Barristers, Firefighters, BT Openreach all striking and/or intending to strike.

Nice bit of irony, I believe that ACAS are also on that list

[clashcityrocker]

As others have posted how have RM gone from making £350m/£450m profits at RM to losing £1m par day/£350m in just a year, something doesn't add up

You aren't quoting like for like.
He said we have lost £1 million/day in the first quarter.
Given that most of our profit is traditionally made in this quarter, most of that £35o/450 million profit was made then.

[FilthyBloke]

Just curious and not defending Simon Thompson but??

What exactly is the false information you believe he is giving out?

His quoted figures about loss making millions for a start
The man’s a f***ing liar

Now this is the problem I have, you have zero evidence what he is saying is untrue.

Simon Thompson on the otherhand has a Fiduciary duty to tell the truth being CEO. Anything less will result in criminal sanctions as it can manipulate the share price his comments on behalf of the company.

As others have posted how have RM gone from making £350m/£450m profits at RM to losing £1m par day/£350m in just a year, something doesn't add up as surely just COVID couldn't have brought in the £700m+ difference in profits/losses?

Wasn’t that covid test kit contract worth £500m?
Plus the extra parcels from everyone ordering in lockdown.
I bet if you take away those two factors we are pretty much where we are at now?

[roman]

Yes didn’t Thompson give it all to the shareholders.If he was savvy with money he would have put it in the rainy day piggy bank!!

[CamPostie]

Those profits/dividends were paid on the previous 12 months financial figures so irrelevant in the argument.

Though agree they were fulLy aware the Covid boom was over so should have left some of that profit as a reserve fund for future years.

But Royal Mail has done nothing wrong, though unethical and irresponsible

Simon first brought up the loss making early this year - we also had the managerial redundancies that were a farce.

Yet a dividend was paid in July - that could have been withdrawn.

The new uniform contract wasn’t needed and has provided substandard wear to it’s workforce and then been suspended.

I have no issue with the procurement of new vans - they were long overdue, but to have to suspend that capital expenditure when only 18 months ago £400 million + went out of the business - well that’s irresponsible management.

£50 million also went out the door because we didn’t meet our service standards.

Christmas last year was a s**t show - due to forced revisions and not enough agency / vans.

That revision activity was subsequently described as an expensive failure by the man responsible for instigating it.

The board have overseen a fractious and materially damaging industrial dispute for over 6 months - with the lasting effects likely to be seen for years to come.

But ok, Royal Mail has done nothing wrong.

[Sbutts8182]

What he should be apologising to the public for is putting tracked 24 above everything else, leaving nhs letters, normal packets, birthday cards etc to one side all to chase the golden goose. It’s no wonder mail volumes are down when you treat it like a 3rd class service.

[Subman]

Those profits/dividends were paid on the previous 12 months financial figures so irrelevant in the argument.

Though agree they were fulLy aware the Covid boom was over so should have left some of that profit as a reserve fund for future years.

But Royal Mail has done nothing wrong, though unethical and irresponsible

Royal mail have not done anything illegal, but they have been involved in activities that are more than irresponsible and more than just wrong or unethical.

While we were working through the Covid crisis our employer was focusing on creating, planning and carrying out a strategy to create the present crisis.

Royal Mail with all its financial advisers, financial directors and accounting executives deliberately gave away hundreds of millions of pounds to share holders.
This was a deliberate act. It was not an irresponsible act, a case of mismanagement, or something that can be satisfactorily defined as unethical. It was sabotage or more accurately financial sabotage.

[redlen]

Yet again using the term such as sabotage is nothing more than personal opinion in a political agenda and means squat unless backed up with source material.

[LaggyBand]

The way he looks when he says “post early for Christmas” tells me that we’ll be striking throughout December AND that was always his plan…

[daveyeff]

We could all abandon our union and just do what Thompson wants I suppose. See where that gets us.

[Mr Rush]

Simon Thompson on the otherhand has a Fiduciary duty to tell the truth being CEO. Anything less will result in criminal sanctions as it can manipulate the share price his comments on behalf of the company.

That depends wholly on a willingness to prosecute alleged crimes. The old Financial Services Authority was oft-known as the Fundamentally Supine Authority. The only thing worse than no sherriff in town is a useless one.