Martin Walsh has provided an update 24/3.

[postslippete]

Why is that other sectors that go on strike end up getting decent pay rises whilst Royal Mail is likely to go bust unless posties accept........


I'm aware the CWU are between a rock and a hard place but everything about Royal Mail doesn't add up. Losing one million pound a day ever since Simon Thompson took his nice bonus after squandering all our profits to shareholders, giving pay rises to managers and calling them COMs, announcing 10,000 compulsory redundancies and then recruiting and overpaying over 11,000 agency staff, bonuses to managers for working during the strikes and I even overheard a COM mention something about a bonus based on the successful implementation of the revisions in our office and working to a budget.

Royal Mail is being badly mismanaged from top to bottom so I take whatever Royal Mail say with a pinch of salt. They were annoyed that the government didn't take a day off the USO and have forced revisions in to make duties that big that will inevitably lead to failures in the USO, as if it wasn't failing already.

[FilthyBloke]

It's OK the odd poster saying "I'll fight this to the bitter end" but the truth is most union members can't afford to lose their livelihoods and I one of them. Although if RM is really now tittering on the edge of Admin then the share price is being surprisingly resilient with little movement today, so either brokers/shareholders are ignorant to the true financial picture or the union are talking nonsense.

For those who still have shares…. I wonder if it’s worth selling now? It’s quite low but what happened if the company does going into administration or liquidation?

[Tman]

It's OK the odd poster saying "I'll fight this to the bitter end" but the truth is most union members can't afford to lose their livelihoods and I one of them.

Odd posters indeed. I wouldn't worry too much about the few keyboard blowhards on here, harsh reality would be rather different as has been shown so many times before.

[Foxel]

The harsh reality is there are a lot of unfillable roles crying out for workers.

Getting another job wouldn't, shouldn't, be difficult. Getting a decent job, well that's a different matter. While this job has gone to the dogs, you haven't got much to lose filling your bowl elsewhere.

[rambo1]

Why is that other sectors that go on strike end up getting decent pay rises whilst Royal Mail is likely to go bust unless posties accept........


I'm aware the CWU are between a rock and a hard place but everything about Royal Mail doesn't add up. Losing one million pound a day ever since Simon Thompson took his nice bonus after squandering all our profits to shareholders, giving pay rises to managers and calling them COMs, announcing 10,000 compulsory redundancies and then recruiting and overpaying over 11,000 agency staff, bonuses to managers for working during the strikes and I even overheard a COM mention something about a bonus based on the successful implementation of the revisions in our office and working to a budget.

Royal Mail is being badly mismanaged from top to bottom so I take whatever Royal Mail say with a pinch of salt. They were annoyed that the government didn't take a day off the USO and have forced revisions in to make duties that big that will inevitably lead to failures in the USO, as if it wasn't failing already.

Thinking you probably answered your own question there.

[sixfoottwo]

For those who still have shares…. I wonder if it’s worth selling now? It’s quite low but what happened if the company does going into administration or liquidation?

Interesting question, I've still got all mine, will they be worthless?

[SWIM]

https://fb.watch/jtHC0IjSe-/

[rambo1]

It's OK the odd poster saying "I'll fight this to the bitter end" but the truth is most union members can't afford to lose their livelihoods and I one of them. Although if RM is really now tittering on the edge of Admin then the share price is being surprisingly resilient with little movement today, so either brokers/shareholders are ignorant to the true financial picture or the union are talking nonsense.

For those who still have shares…. I wonder if it’s worth selling now? It’s quite low but what happened if the company does going into administration or liquidation?

You'll loose the lot. If the price starts crashing Monday morning, I'd sell.

[CRIBMAD]

Wtf are they doing now?

serving notice next week for strikes ! just put up on cwu facebook

[FilthyBloke]

It's OK the odd poster saying "I'll fight this to the bitter end" but the truth is most union members can't afford to lose their livelihoods and I one of them. Although if RM is really now tittering on the edge of Admin then the share price is being surprisingly resilient with little movement today, so either brokers/shareholders are ignorant to the true financial picture or the union are talking nonsense.

For those who still have shares…. I wonder if it’s worth selling now? It’s quite low but what happened if the company does going into administration or liquidation?

You'll loose the lot. If the price starts crashing Monday morning, I'd sell.

Some big shareholders are going to lose a lot of money if that’s the case…. Unless it was a plan all along…
Pay the shareholders hundreds of millions last year on the secret premise that this year the company will go bust….
Hmm.

[sixfoottwo]

It's OK the odd poster saying "I'll fight this to the bitter end" but the truth is most union members can't afford to lose their livelihoods and I one of them. Although if RM is really now tittering on the edge of Admin then the share price is being surprisingly resilient with little movement today, so either brokers/shareholders are ignorant to the true financial picture or the union are talking nonsense.

For those who still have shares…. I wonder if it’s worth selling now? It’s quite low but what happened if the company does going into administration or liquidation?

You'll loose the lot. If the price starts crashing Monday morning, I'd sell.

Some big shareholders are going to lose a lot of money if that’s the case…. Unless it was a plan all along…
Pay the shareholders hundreds of millions last year on the secret premise that this year the company will go bust….
Hmm.

Blimey, going to look at getting rid of them now got the full allocation still.

[datasaint]

If Royal Mail is such a big liability and losing so much money can IDS sell it off and walk away from it?

Is that why the share price isn't dropping because it's reflecting the price of GLS?

[chrisj]

It's OK the odd poster saying "I'll fight this to the bitter end" but the truth is most union members can't afford to lose their livelihoods and I one of them. Although if RM is really now tittering on the edge of Admin then the share price is being surprisingly resilient with little movement today, so either brokers/shareholders are ignorant to the true financial picture or the union are talking nonsense.

For those who still have shares…. I wonder if it’s worth selling now? It’s quite low but what happened if the company does going into administration or liquidation?

You'll loose the lot. If the price starts crashing Monday morning, I'd sell.

Some big shareholders are going to lose a lot of money if that’s the case…. Unless it was a plan all along…
Pay the shareholders hundreds of millions last year on the secret premise that this year the company will go bust….
Hmm.

That does not make sense! Dividends payment will never be enough to compensate loss of capital gains or total loss of shareholding.

Shareholders are not the same as Hedge Funds!

[CamPostie]

The company won’t go under as you say the government can’t lets its postal service to go bust.

Politically it would be a disaster for the government too.

You would probably end up with a government bailout who would then end up selling it on at a loss like it did with Lloyd’s bank.

No the government appointed administrator's only role would be to fulfill the USO. That means parcels etc are of no importance.

The company would be a shell of it's former self, and there's no telling how viable the USO would even be without money coming in from parcels so you could be looking at a 3 day a week USO, meaning half the work force wouldn't be required.

This is not true - the administrator would have an obligation to make the business a viable opportunity for anyone who wished to step in and take up it’s liabilities and it’s clear that would have to include parcels.

Given there’s one particular prominent shareholder that has shown clear interest in the business - and has been given the green light by the government to up it’s stake to takeover levels, I’d be surprised if there wasn’t at least one interested party in taking over Royal Mail if it was to go into administration.

I would also argue that given the USO is a legally binding contractual obligation that any administrator acting on behalf of the company would need to maintain staffing levels in the immediate to short term.

[redlen]

You mean minimum staffing levels?

Royal Mail has been understaffed for years yet suddenly let staff go with VR coming up to a new financial year?

Does not compute

Am of the opinion come April 1st Royal Mail will go nuclear

As they say, you have seen nothing yet