Government put on hold and reviewing all agreed loans.
Thats why RM wanted to push through the D2D agreement as soon as possible.
Vans, walk sequencing machines and all the other tools needed for the changes will be non starters if the government pull the plug on the 1 billion pound loan.
Leaving us with 6 households and no tools with which to do them with, apart from our own backs.
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Modernisation plans in doubt??
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POSTMAN
- SITE ADMINISTRATOR
- Posts: 32784
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Re: Modernisation plans in doubt??
RM already have the loan,they've had it for ages,or is this a new loan,they have over £500M unspent apparently.
I Wrote-During Covid-Which is still relevant now
It's good to get these types of threads, the ridiculous my manager said bollox, so we can reassure ourselves that while the world is falling apart, Royal Mail managers are still being the low-life C***S they have always been.
My BFF Clash
The daily grind of having to argue your case with an intellectual pigmy of a line manager is physically and emotionally draining.
It's good to get these types of threads, the ridiculous my manager said bollox, so we can reassure ourselves that while the world is falling apart, Royal Mail managers are still being the low-life C***S they have always been.
My BFF Clash
The daily grind of having to argue your case with an intellectual pigmy of a line manager is physically and emotionally draining.
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fishtank
- Posts: 19732
- Joined: 28 Sep 2007, 17:22
- Gender: Male
Re: Modernisation plans in doubt??
POSTMAN wrote:RM already have the loan,they've had it for ages,or is this a new loan,they have over £500M unspent apparently.
They might want it back early though.dingo wrote
Royal Mail`s financial plan for this transformation is to reach £300 million profit by year 3 and they have agreed with the Government not to repay the commercial loan for the life time of the plan
good times, bad times you know I've had my share
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mclovin
- Posts: 1106
- Joined: 11 Feb 2009, 18:39
- Gender: Male
Re: Modernisation plans in doubt??
Thats right the £500 million they havent spent is back in the hands of the government awaiting review.
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Danelectro
- Posts: 1058
- Joined: 13 Apr 2008, 01:02
Re: Modernisation plans in doubt??
mclovin wrote:Thats right the £500 million they havent spent is back in the hands of the government awaiting review.
Jesus! what a farce.
I thought there was supposed to be some announcement regarding implementation of the agreement on Saturday?
There seems to be no sign of the workshops and fair workloads,meanwhile locally and im sure elsewhere Royal Mail are carrying on regardless.
I saw Hayes on TV last night at a Labour party fringe meeting offering Liberal democrats half price membership to join the Labour party,so its good to see hes spending his precious time wisely!
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POSTMAN
- SITE ADMINISTRATOR
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- Gender: Male
Re: Modernisation plans in doubt??
It's a loan aint it,why would they want it back,and why would they want it back early.
Has there been some dealings behind the scenes that no one knows about?
Has there been some dealings behind the scenes that no one knows about?
I Wrote-During Covid-Which is still relevant now
It's good to get these types of threads, the ridiculous my manager said bollox, so we can reassure ourselves that while the world is falling apart, Royal Mail managers are still being the low-life C***S they have always been.
My BFF Clash
The daily grind of having to argue your case with an intellectual pigmy of a line manager is physically and emotionally draining.
It's good to get these types of threads, the ridiculous my manager said bollox, so we can reassure ourselves that while the world is falling apart, Royal Mail managers are still being the low-life C***S they have always been.
My BFF Clash
The daily grind of having to argue your case with an intellectual pigmy of a line manager is physically and emotionally draining.
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pickaname
- Posts: 1467
- Joined: 11 Sep 2007, 20:24
Re: Modernisation plans in doubt??
Why would the new Govt want to load RM £500 million and then privatise it?
It would be throwing the money away.
The new Govt are lining up a privatisation plan whereby RM get sold off for peanuts but the new owner accepts the pension liability and repayment of the existing £800 million.
This would attract investors as they wouldnt need to pay any money upfront. They could tackle the deficit with cuts over time.
It would be throwing the money away.
The new Govt are lining up a privatisation plan whereby RM get sold off for peanuts but the new owner accepts the pension liability and repayment of the existing £800 million.
This would attract investors as they wouldnt need to pay any money upfront. They could tackle the deficit with cuts over time.
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mclovin
- Posts: 1106
- Joined: 11 Feb 2009, 18:39
- Gender: Male
Re: Modernisation plans in doubt??
Because they are reviewing all loans made by the last government, beit loans made or pending, all bets are off at the minute.
When RM and the Government realise they cant move forward without the cash, into the hands of privatisation we go, albeit probably part privatisation rather than full.
When RM and the Government realise they cant move forward without the cash, into the hands of privatisation we go, albeit probably part privatisation rather than full.
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DGP1
- Posts: 15551
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- Location: Terminus
Re: Modernisation plans in doubt??
No company will take on RM while the pension deficit is so large, so unless the Government take on pension then we'll not be sold off (although, our pension pot is worth a lot of money that the Government could use right now )
)I'm preparing myself for the zombie invasion, rule number 1 - Cardio
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POSTMAN
- SITE ADMINISTRATOR
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- Joined: 07 Aug 2006, 03:19
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Re: Modernisation plans in doubt??
Where has this come from?We already have the money,are you saying they are going to take back what we haven't spent so far?That can't be right.mclovin wrote:Because they are reviewing all loans made by the last government, beit loans made or pending, all bets are off at the minute.
When RM and the Government realise they cant move forward without the cash, into the hands of privatisation we go, albeit probably part privatisation rather than full.
I Wrote-During Covid-Which is still relevant now
It's good to get these types of threads, the ridiculous my manager said bollox, so we can reassure ourselves that while the world is falling apart, Royal Mail managers are still being the low-life C***S they have always been.
My BFF Clash
The daily grind of having to argue your case with an intellectual pigmy of a line manager is physically and emotionally draining.
It's good to get these types of threads, the ridiculous my manager said bollox, so we can reassure ourselves that while the world is falling apart, Royal Mail managers are still being the low-life C***S they have always been.
My BFF Clash
The daily grind of having to argue your case with an intellectual pigmy of a line manager is physically and emotionally draining.
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mclovin
- Posts: 1106
- Joined: 11 Feb 2009, 18:39
- Gender: Male
Re: Modernisation plans in doubt??
Ok so no more Government cash, and no privatisation.
Where does that leave RM?? Up shitcreek in a barbed wire canoe.
Without the correct tools we cant "modernise". Looks like the current way of working will hold the field.
What a shame!!!
Where does that leave RM?? Up shitcreek in a barbed wire canoe.
Without the correct tools we cant "modernise". Looks like the current way of working will hold the field.
What a shame!!!
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mclovin
- Posts: 1106
- Joined: 11 Feb 2009, 18:39
- Gender: Male
Re: Modernisation plans in doubt??
Because it the Tories and they're skint, they'll do what they want.POSTMAN wrote:Where has this come from?We already have the money,are you saying they are going to take back what we haven't spent so far?That can't be right.mclovin wrote:Because they are reviewing all loans made by the last government, beit loans made or pending, all bets are off at the minute.
When RM and the Government realise they cant move forward without the cash, into the hands of privatisation we go, albeit probably part privatisation rather than full.
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Steviea34
- Posts: 474
- Joined: 10 Apr 2009, 10:44
- Gender: Male
Re: Modernisation plans in doubt??
I wouldn't mind the interest payments on that, looks like our BOARD are in for a bit of a bonusPOSTMAN wrote:RM already have the loan,they've had it for ages,or is this a new loan,they have over £500M unspent apparently.
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Martin Walsh
- Posts: 4276
- Joined: 19 Sep 2007, 20:12
- Location: neverland
Re: Modernisation plans in doubt??
Way of the mark , the walk sequencing machines are paid for, the ILSMs are paid for , the flat sorting machines are paid for as are the IMPS. Royal Mail have used the money and have sercured it under a commercial basis which has laws attached. The Government agreed that it would not have to be repaid until the 3 year plan has been concluded.
The delivery methods plans is a big up front committment and has been paid for and whilst they will recoup some of the monies in the future by removing support vechiles and jobs this will still be a massive investment the biggest in deliveries ever.
Now whilst selling of the post office will be very attractive to both the tories and liberals , there is a big elephant in the room and that is the pension defcit. The new defcit will have to be sorted which is 10 billion and makes the company debts bigger than its assets. As you know there is legal requirement to repay the pension defcit.
The only way they can sell of Royal Mail is if they solve the pension defcit and there are two ways open to them , the tory lib government either takes on the pension defcit adding to the countrys on paper defcit or they find a longer period for either Royal Mail or any new owner to repay the defcit. If they choose the later option and say spread the defcit over 40 years it will still mean that Royal Mail or a new owner would have to pay 50 pence in every pound made back into the pension defcit to plug the hole.
The National Deployment Group are meeting today which includes Roger Poole , ACAS , Dave Ward and the other offices along with Dale Haddon and Peter Walls. The idea is to give everyone an up to date workplan detailing what has happened since the agreement was endorsed and what other work is taking place. For instance the union has just agreed the most comphensive local revison workshop for local reps and Delivery office Managers ever. No revison can be agreed or intrroduced until this workshop has taken place and the 6 step process and full involvement has taken place. Every unit in the UK will be montiored by the national deployment group and a similar structure for Divisonal Reps and Regional secretaries.
There has been a lot of work done already but it now needs to be communcated to the members. Hopefully this will happen this week as conference is next week.
The delivery methods plans is a big up front committment and has been paid for and whilst they will recoup some of the monies in the future by removing support vechiles and jobs this will still be a massive investment the biggest in deliveries ever.
Now whilst selling of the post office will be very attractive to both the tories and liberals , there is a big elephant in the room and that is the pension defcit. The new defcit will have to be sorted which is 10 billion and makes the company debts bigger than its assets. As you know there is legal requirement to repay the pension defcit.
The only way they can sell of Royal Mail is if they solve the pension defcit and there are two ways open to them , the tory lib government either takes on the pension defcit adding to the countrys on paper defcit or they find a longer period for either Royal Mail or any new owner to repay the defcit. If they choose the later option and say spread the defcit over 40 years it will still mean that Royal Mail or a new owner would have to pay 50 pence in every pound made back into the pension defcit to plug the hole.
The National Deployment Group are meeting today which includes Roger Poole , ACAS , Dave Ward and the other offices along with Dale Haddon and Peter Walls. The idea is to give everyone an up to date workplan detailing what has happened since the agreement was endorsed and what other work is taking place. For instance the union has just agreed the most comphensive local revison workshop for local reps and Delivery office Managers ever. No revison can be agreed or intrroduced until this workshop has taken place and the 6 step process and full involvement has taken place. Every unit in the UK will be montiored by the national deployment group and a similar structure for Divisonal Reps and Regional secretaries.
There has been a lot of work done already but it now needs to be communcated to the members. Hopefully this will happen this week as conference is next week.
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macphee1
- Posts: 105
- Joined: 18 Oct 2009, 13:08
- Gender: Male
Re: Modernisation plans in doubt??
mclovin wrote:Because they are reviewing all loans made by the last government, beit loans made or pending, all bets are off at the minute.
When RM and the Government realise they cant move forward without the cash, into the hands of privatisation we go, albeit probably part privatisation rather than full.
Do you have a link,or source for this information.