Employee Ownership

[fishtank]

If privatisation is advanced the Union will defend the interests of our members on employee ownership by responding to the government as follows:-

- Any form of employee ownership should be set up as a collective trust with CWU acting on behalf of employees.
- The Union should seek to increase any employee stake beyond the 10% minimum set out in the Postal Services Act.
- There should be no internal or individual trading of shares.
- Rather than dividends/shares, the trust would provide options for employees to improve long term benefits such as pensions.

Is that what the membership want?

[Bahia Feliz]

Sounds good to me.

[demon]

no we need to see hard cash now not in 20 years when things are good again

[CLINTEASTWOOD1]

Hello
im 35 with a wife and three young children i say stuff putting more money into my penson live for the moment with my luck iwont evan see my penson make me mad i would like to see a nice dividend every year to blow it all on doing nice family things!god know we work hard for it.

[gb93]

Not me
Cheeky gits, Stalinist ideas there, They know better, It's in our best interests

[janitor]

The CWU acting on behalf of employees, theres a novel idea, do you think dave and billy would stand for it.

[DB1100]

Hello
im 35 with a wife and three young children i say stuff putting more money into my penson live for the moment with my luck iwont evan see my penson make me mad i would like to see a nice dividend every year to blow it all on doing nice family things!god know we work hard for it.

I agree,the way things are heading anyone with a pension will not be getting state pension soon,give it another 10 or 15 years and the only people who will get a state pension are the workshy.

[flaminmoses]

im not even in the pension so wheres the benefit for me?

shares n divis is the way to go.

although gotta admit i wouldnt be buying unless they had a serious management cull

[fishtank]

My personal opinion is long term benefits,although noble...is a non-starter with the membership.
Pensions are a mixed bag in this business and not everyone has one but the main thing is members don't want to take a long term punt with a business that might change hands multiple times in their working lives and change conditions with it.
The same could be said of removing the individual's right to manage,trade or dispose of an individual allocation.
Should the union have any control over non-member allocations?
Dubious legally without giving them a say on whether they want to or not..
Not convinced they have this right yet but it's early days.

[dvbuk55]

If privatisation is advanced the Union will defend the interests of our members on employee ownership by responding to the government as follows:-

- Any form of employee ownership should be set up as a collective trust with CWU acting on behalf of employees.
- The Union should seek to increase any employee stake beyond the 10% minimum set out in the Postal Services Act.
- There should be no internal or individual trading of shares.
- Rather than dividends/shares, the trust would provide options for employees to improve long term benefits such as pensions.

Is that what the membership want?

Now that's the way to fight keeping the mail public Who would trust these muppets to look after our best interests in any employee ownership scheme with the way they've looked after our "best interests" in recent years. Makes you wonder, with this statement by the union, exactly what's going on behind closed doors. Wonder if it includes seats on the board.

[Glenno]

[knackeredneedadayoff]

I wouldnt trust the union ,it would end as the deal of the century you dont get a pay rise now dear members you get shares and we know how the last lot went.i would have proper shares given to us .i might no see my state pension so i want me money now so ucw let the workforce decide by vote and put all the different ways it could be done not what you can control as you have been piss poor in the last decade.

[Mr Rush]

The same could be said of removing the individual's right to manage,trade or dispose of an individual allocation.
Should the union have any control over non-member allocations?

I'm guessing they want to prevent the employee stocks from being bought up by private bodies and losing what little influence we have in a privatised Royal Mail. Look at what happened in Russia after the Soviet national industries were privatised - each citizen was given a share, but within a few years they were almost all bought up by a few oligarchs.

[fishtank]

I'm guessing they want to prevent the employee stocks from being bought up by private bodies and losing what little influence we have in a privatised Royal Mail.

I can understand that and the Postal Services Act leans towards an ongoing stake in the business but if Royal Mail and the union are going to sell employee ownership to the membership it will have to mean something in real financial terms.
Maybe that sounds a bit mercenary but it is the reality of the situation.
The solution is to give the members the right to sell at market value but only to the trust,the downside is financing that from the trust's point of view and the huge risk the trust would then be holding if the company goes tits up.

[dvbuk55]

The thing about the CWU looking after the interest of the members, who would be looking after the other third of employees who are NOT members but would surely be entitled to a say. Why not create a form of a shareholders "both member and non-member" committee/forum where all parties interests are protected and where all minutes are open to every shareholder - unlike the dealings at the moment. Has the CWU engaged in talks with RM "tentatively" shall we say on the off chance of privatisation and if so would that information not be of interest to the members/future shareholders.