Now is not the time

[robking]

I pay the union £3.41 per week to represent me, if they can't do it properly I'm entitled to say in the words of Lord Sugar 'You're Fired' it's getting very close to that stage now, if tonight's update is more BS I'm leaving the union on Monday morning. It doesn't matter if they tried their best, their best wasn't good enough.
Company going into administration? nope! take no notice of canteen gossip the share price is £2.26 if they were in such dire straights they are legally required to notify the stock exchange and the share price would be more like 5p.
Debt of equity swap? company debt is a relatively low percentage of assets, so no need, debt investors would far rather have their money back, with interest of course than swap it for risky equity.

Not if it's a massively diluted debt to equity swap they wouldn't.

But there isn't very much debt, £350million it sounds a lot but the company is capitalised at £2.5Billion, it's like you being £50,000 in debt but you own a house worth £250.000, would your bank worry?
Royal Mail's debt is no doubt fixed at the very low interest rates that were around until the middle of last year and the base rate is still historically low at 4.25%

You misunderstand. It's the 2.5 billion that would be swapped. Shareholders would be wiped out. In return Royal Mail will get cash to shore up cash flow and get going again. Whoever does the swap will keep the King's Ransom.

But down at the London stock exchange they don't seem to know anything about it, the shares are now slightly up this afternoon whilst the rest of the market is down.

[Postee2]

I pay the union £3.41 per week to represent me, if they can't do it properly I'm entitled to say in the words of Lord Sugar 'You're Fired' it's getting very close to that stage now, if tonight's update is more BS I'm leaving the union on Monday morning. It doesn't matter if they tried their best, their best wasn't good enough.
Company going into administration? nope! take no notice of canteen gossip the share price is £2.26 if they were in such dire straights they are legally required to notify the stock exchange and the share price would be more like 5p.
Debt of equity swap? company debt is a relatively low percentage of assets, so no need, debt investors would far rather have their money back, with interest of course than swap it for risky equity.

Not if it's a massively diluted debt to equity swap they wouldn't.

But there isn't very much debt, £350million it sounds a lot but the company is capitalised at £2.5Billion, it's like you being £50,000 in debt but you own a house worth £250.000, would your bank worry?
Royal Mail's debt is no doubt fixed at the very low interest rates that were around until the middle of last year and the base rate is still historically low at 4.25%

You misunderstand. It's the 2.5 billion that would be swapped. Shareholders would be wiped out. In return Royal Mail will get cash to shore up cash flow and get going again. Whoever does the swap will keep the King's Ransom.

But down at the London stock exchange they don't seem to know anything about it, the shares are now slightly up this afternoon whilst the rest of the market is down.

I agree actually and you make a very good point.
I'm simply speculating, given all the rumours. Chinese whispers is causing us all to lose our heads in truth.

[Acca Dacca]

Im of the belief that there are people in the background playing games with us

They want us worried and angry

Some on here are doing their bidding - even if they dont know it

[49erman]

I think people have reacted the way they have towards the union because they are tired (of the length of the process), worried (money), scared (losing their jobs) and they can’t see a future…….. they just want a resolution and quickly.

[hans solo]

If it went to administration would that not gls and the czech s
Shares it might well f**k his ambitions as well

[Acca Dacca]

I think people have reacted the way they have towards the union because they are tired (of the length of the process), worried (money), scared (losing their jobs) and they can’t see a future…….. they just want a resolution and quickly.

I think the CWU are complicit in spreading fear to help facilitate the inevitable ''imperfect deal'' to quote Martin Walsh. It suits the union to have us thinking a shoddy deal is the best we can get and we should just be lucky RM didnt go bankrupt and we all ended up out of a job. They have put themselves in this position where the membership expect better because of all the strike days, money lost and executive action ALREADY put in place. How do you get the membership to accept less? Fear of the worst and relief that it didnt happen. Even if it wasnt a likely probability.

It seems RM havent burst a gut to get an agreement because the CWU were daft enough to put out the message 'win the ballot win the dispute' and then set deadlines - the longer it has went on without ''winning the dispute'', the more deadlines that have passed without resolution, the more animosity the members are showing towards the union. Royal Mail are calling the unions bluff. They are telling them fine go on strike but the finances will get worse which means a worse outcome for the workforce. You only have to look on facebook and twitter to see the reactions towards the CWU from the workers currently. This suits RM right down to the ground.

[Jinder]

I don’t give a toss about the financial position of the business, the ones responsible having been filling their faces for years. They have mismanaged this 500 year institution into the ground and they now have the audacity to blame their employees for the mess they find themselves in. If we don’t get a fair pay rise which is backdated to last April then we should strike continuously until RM is consigned to the history books

[Postmanham]

Just tell us what the deal RM is putting on the table and whether they are willing to accept it and then put it to the members and see if they are willing to accept. Stop all the faffing about with endless talks that are obviously going nowhere

[guardianangel]

Not interested in Royal Mails problems ,call the strikes !!!!

[chrisj]

I have a feeling that Martin is not all at one with the top hierarchy and the more militant wings of the PEC and members...

Giving an update is commendable but we are not just here to listen like sheep; we try to make sense of things and read between the lines because the updates are usually cryptic; nothing specific rarely comes out.

It will s time to lay everything on the table to the members; after all, this is a crunch week!

Martin talks about a decent pay rise - what is a decent pay rise after as almost a year of talks and lost wages. At the same time, he is saying each additional 1% in back dated pay will cost Royal Mail £400. But he said there is no money and there is a chance of going into administration etc.

And you expect members to sit and wait and not get super frustrated?

What exactly is going on and what have they been talking about since the third ballot?

There should be an update tonight - we shall see!

[needadvice]

RM have a business plan of demoralising the work force and destroying livelihoods. Great business accumen

[Nickvilla20]

RM have a business plan of demoralising the work force and destroying livelihoods. Great business accumen

Royal Mails business plan won’t be able to provide the service its customers pay for.

Even the gold standard tracked parcels are left in yorks for days now.

[Postee2]

Well even though I authored this thread, even I'm now sick to the back teeth of this. Where the hell is this update we've been promised. My mental health along with many others is all over the place. Jesus I'm trying my best to stay level headed but not sure how much more I can take

[k979aaa]

Well even though I authored this thread, even I'm now sick to the back teeth of this. Where the hell is this update we've been promised. My mental health along with many others is all over the place. Jesus I'm trying my best to stay level headed but not sure how much more I can take

Thing is it is all linked ie the walks the lapsing you do all do without complaining and the standing up against that is what will finnish this whole scam of a company it is a house of cards and now the cards are collapsing and this whole ponzi scheme is dead, Where do you think the leaders of Royal Mail will go this is the end. But we can still bloody some noses and kick ass thing is this is what privatization is asset stripping at it's most worst! And yet still droves of people still back the tories will vote on the back of past memories and delusioned to the point of madness!

[Wullie10]

Without them, we are truly and completely shafted.

Deliveries are already getting shafted

My hours haven't changed. The round can be 3 times as big and my hours still haven't changed. That's their problem not mine. What RM Rely on is postman to keep doing what theve done for the last 30 years. Run round like idiots , taking short cuts , starting early and working for nothing. Postmen have shafted themselves.