Moya's house

[Dee Plish]

http://www.dailymail.co.uk/news/article ... ds-newsxml" onclick="window.open(this.href);return false;

The boss of the Royal Mail has made a potential profit of nearly £400,000 in just 12 months on a luxury flat she bought with the help of taxpayers’ cash, it emerged last night.
Moya Greene was controversially given £250,000 to help buy a home in London as part of a pay package to lure her from Canada.
She put the money towards the 2012 purchase of a £1.6million maisonette located in one of the most expensive areas of the capital.

The flat had been sumptuously refurbished by its former owner, a noted interior decorator, and was sold complete with art works and furnishings.
But the area is so popular that Miss Greene’s three-bedroom home has rocketed in value to almost £2million in just a year, property experts say, giving her a potential profit of nearly £400,000.

The £250,000 payment only emerged in the notes to Royal Mail accounts published last week and is to be repaid by Miss Greene, a divorced mother-of-one.
Royal Mail claims the £250,000 payment ‘was not a gift’, describing it as a ‘single payment towards the purchase of a home’, approved when Miss Greene bought her flat with a mortgage from Barclays Bank.
But there is growing political pressure for her also to return any profit she ends up making out of the deal.

Business Secretary Vince Cable has already criticised the Royal Mail for giving the £250,000 in the first place.
Mario Dunn, of the pressure group Save Our Royal Mail, said Miss Greene’s deal was ‘the kind of practice we associate with bankers’.
He said: ‘Hard-pressed Royal Mail customers will not be pleased to learn they are paying for houses in London.
‘Unfortunately if Vince Cable goes ahead with privatisation there will be nothing that can stop this happening again in the future.
‘And consumers don’t want to have to pay more for their stamps to go toward higher pay, rewards and bonuses for senior executives.’
Miss Greene’s spokesman at the Royal Mail refused to say how much of the profits she has made would be refunded and insisted that 59-year-old Miss Greene’s pay package – which last year totalled £1.5m – was ‘below the market average’.
Miss Greene was previously boss of Canada Post, where she aroused huge opposition with her cutbacks including changing rules on staff sick leave benefits – earning herself the nickname ‘The Greene-ch’ who stole Christmas.

When she was brought to London in 2010 to prepare the Royal Mail for privatisation, she was given £127,000 a year in ‘relocation payments’, which included annual flights home to see her grown-up daughter.
She initially rented a £5,000 a month terrace house in West London.
But last year she decided to buy and settled on a sumptuous garden flat.
Advertisements for the leasehold flat, set over the upper ground and lower ground floors of a handsome Victorian terrace, boasted about the ‘immaculate living space’ and ‘superb private garden’.
The interior design meanwhile was described as being ‘luxurious and timeless’ including ‘state of the art modern lighting, audio visual and security facilities’.
Labour’s shadow business secretary, Chuka Umunna said: ‘The £250,000 housing perk the Royal Mail board gave its CEO – nearly ten times the average salary – will be totally unfathomable to its customers.

‘The decision to award this housing assistance in the first place is surprising and calls into question the judgment of the Royal Mail’s board.’
A Royal Mail spokesman claimed Miss Greene was underpaid compared to other chief executives – even though her total package last year was £1.4million, with another ‘long term bonus’ of £500,000 due shortly.
She also said the £250,000 housing payment ‘recognises that London is significantly more expensive than Canada’.
The spokesman added that Miss Greene had ‘voluntarily offered’ to return the payment and said that a share of the profits she made on her flat would also be given back to the Royal Mail. But she refused to say what this sum was.
And the spokesman would not expand on the note in the accounts which said: ‘The Remuneration Committee will also determine the process for the reimbursement of the company of any unrealised gain to date associated with this payment.’
Last month the Daily Mail revealed that fellow Canadian Mark Carney, the new governor of the Bank of England, was using his £250,000 a year housing allowance to rent a £15,000 a month six-bedroom townhouse worth £3million.

[borders]

when you read about these figures involved, its incomprehensible to a postie. £15,000 to rent a property for a month that's what we all have to live on , after tax , for a year !!

[UnhappyGremlin]

No wonder she's 'happy' to give back the money she was given to relocate.
She's already turned a profit on that.

[beria]

Disgrace or obscene carrying on !

[aiden01]

Disgrace or obscene carrying on !

bit of both methinks.

[cloherty1976]

There are a lot of people with a lot more money who certainly would not give it back..

[aiden01]

There are a lot of people with a lot more money who certainly would not give it back..

But she got hers by defrauding the taxpayers i.e us.

[cloherty1976]

How did she defraud us we give it to her?

[aiden01]

How did she defraud us we give it to her?

no we did not how do you work that out royal mail gave it to her not the taxpayers.

[cloherty1976]

I thought the tax payer owns Royal Mail at the moment

[aiden01]

I thought the tax payer owns Royal Mail at the moment

yes you are right but do you pay your taxes for some overpaid will not say what I think to get a quarter of a million pound off her house.

[Lounge Lizard]

A "three-bedroom home" for "Miss Greene, a divorced mother-of-one".

[Brain Fury]

I thought the tax payer owns Royal Mail at the moment

yes you are right but do you pay your taxes for some overpaid will not say what I think to get a quarter of a million pound off her house.

How much of your taxes do you think RM gets?

[hans solo]

nae wonder shes divorced

[protect us]

Absolutely disgusting - with the ruthless planning and cuts that forced me to leave - the unworkable workloads the ones left behind cant achieve and the rising costs and lack of money to survive on - this really does show just how ridiculous and unequal things are , to make matters worse the union do naff all with the payments they took from me and many others - ripped off in two ways - plus insulted whilst you race around working hard to grow the business etc and above all deliver a service to the public , the ruthless people at the top destroy livlihoods and get rewarded for it ... thanks for nothing , remember who put you where you are today - it was the hard working posties that gave you all they had to give !