no colleague share value, but making profit

[pants123]

im no expert here, but it was only a few months ago, that Moya Greene and her henchmen said there was no value to colleague shares as the business was not making money...

there was also going to be an independent valuation to be carried out to determine colleague share value.. what has happened to that..

NOW ALL OF A SUDDEN ROYAL MAIL HAVE MADE BIG PROFITS, INTERIM PROFIT OF £144 MILLION..

WHAT THE HELL IS GOING ON HERE...

[badger66]

Well pointed out pants hoodwinked yet again by Royal Fail !!!

[ebbzie]

It must be managers bonus season coming up

[hatetheboss]

The independent review is still ongoing, that's what Dave Ward said in Newcastle.

[Judgee]

Wasn't it convenient that the shares were worth something for almost 3 years and then by pure chance we hit a 3 month period when they could be cashed in where they were deemed worthless and low and behold as soon as they were scrapped we start making big fat profits again?! I like to see some kind of criminal investigation here. Surely this is some kind of fraud?

[clashcityrocker]

The government taking on the pension deficit.
The hike in the price of stamps.
The sale of real estate.

The shares were never "worth" anything.
They were bits of paper.

Before the shares were worth something weren't we losing a million pounds a day?
The paper value of a company can be easily manipulated up or down.

[Thehair]

Colleague share, can't ever remember receiving a share certificate. Must have been some ficticious scam!

[Cut Off King]

The government taking on the pension deficit.
The hike in the price of stamps.
The sale of real estate.

The shares were never "worth" anything.
They were bits of paper.

Before the shares were worth something weren't we losing a million pounds a day?
The paper value of a company can be easily manipulated up or down.

That is all true,
but If I can see that and You can see that,
and the CWU could see that,

Why didn't they act and call a national ballot over the issue. Instead they ended up in bed with RM,

As Jim Royale would say, " Joint statement, My Arse !"

[spoodoo]

People were pissed off seeing people leaving the company and getting near £1400 of share money , then telling us the mugs tht are left in this mess ,that there now worth nothing,!

[royalmailsajoke]

Moya must have worked out that the percentage of the workforce who weren't eligible for any payment (new starters) was high enough to rule out industrial action. Giving us all £100 just to make sure.

[comeracing]

delivery staff conned again,rm customer experiance workers £500 xmas bonus,doms £3000 bonus,delivery staff £100 PRO RATA,ONE LINE SADLY SAYS IT ALL.

[Brandy]

delivery staff conned again,rm customer experiance workers £500 xmas bonus,doms £3000 bonus,delivery staff £100 PRO RATA,ONE LINE SADLY SAYS IT ALL.

As usual we posties get the rough deal, but if it wasnt for us Royal Mail wouldnt exist, so isnt it about time we got more reward and recognition for the hard no I will refrase that harder job we do.

[Martin Walsh]

At the risk of getting a load of abuse, colleague share was based on the value of the business at the buy back time of in 2011 and 2012. The value at the time of the agreement was £1.51. The final instalment was change to the £1000 linked to lump sums.

Of course from the time that the Business Transformation Agreement was introduced the savings have been downdialled on 3 seperate occassions and the business case readjusted. On top of this Royal Mail wanted to remove the pension deficit and to do this they needed to request european state aid. Royal Mail could hardly pay out colleague share money at the same time they had the begging bowl out to the European Commission. This is why Moya Greene revalued the company and took into account all the outstanding debt. This is why some received money one month and now the next due to the revaluation.

Now the simple fact of the matter is that the money which colleague share paid out over it`s term has largely been the result of the CWU changing the terms of the agreement. Ie ensuring that pay and mod allowed for a payment and the lump sums linked to revision. The reality is that colleague share was always a con and the revlauation of the company by Royal Mail was also a con.

[spoodoo]

Dingo ,different subject I know ,, I had a counselling meeting last week where I had to sign a form and be lectured having had my first misdelivery complaint . This lady phoned in regarding one letter posted right next door in error , is this normal procedure? Been in rm a good few years now.

[youwot!!!!!]

what a croc spoodoo,every one can make a mistake now and then.
my general rule for dealing with managerial crap is to NEVER SIGN ANYTHING-EVER.
they can't force you to sign but by signing it means you agree with it.