From week 37 No Money

[Cheetah]

No money my A..S ......

If your finances are tight at home would you???

Buy your two children a new car? ( park and loop replaced a £500 per 5 years cycle ((which would be perfectly adequate if fitted with secure lockable paniers)) with a van when if leased would cost at least £200 WEEKLY per 2 posties, to tax, lease, insure, fuel and maintain i.e £2 per week per postie cyclist compared to £100 per week to P&L postie)

Would you tell your wife and kids to throw all of their perfectly good wardrobe out and send them off to the shops to buy a new wardrobe? (issue of new uniform)

Pay Dom's and their Linos a riddiculous bonus for many to just do a postmans job when you could pay a MUCH reduced posties wage for doing that same job??

I don't think so or is it just the case RM managers are so poor with the finances, or are purposely grooming the buisness to look like a lame duck so as have we have seen on many previous sell off's their muchas get a cash cow on the cheap at public expense

[mailman71]

why does anybody believe this crap when or if royal mail run out of money the goverment will step in..

[DGP1]

why does anybody believe this crap when or if royal mail run out of money the goverment will step in..

We could always say we're a bank and then the government will throw billions and billions of pounds at us

[not me]

My A/Dom is saying from week 37 RM have no money and won't be able to pay wages. He also says he's paying no Xmas pressure overtime this year!

thats a stroke of luck
I'm not doing any

[Martin Walsh]

Whilst the position is not as dire as that , we are all in a bad place not of our making.

A combination of Royal Mail's mismanagement , successive governments have taken money and introduced unfair regulation. on top of this we do have faking revenue and loss of some traffic streams.

cheetah the real con is that they used a loan off the government to purchase CDVs , automation etc and now part of the new business plan wants The government to write off this loan as Royal Mail cannot afford the repayments and cannot afford the repayments for the pension deficit past next March.

The Government cannot sell of Royal Mail off until it takes on the pension deficit as no one will buy into it. However it cannot take on the pension deficit until the European Union grants Royal Mail state aid and guess what there is no certainty that this will happen. in fact the current state of the business is so bad especially the fact that Royal Mail has no money to pay either the commercial loan or the pension deficit past next march something the pension trustees know which they will have to act on. The real danger is that the European Union does not grant state aid but decides to grant resuce aid which then allows Europe to break up the company upstream and downstream and close the pension scheme completely.

We are in untravelled waters and I believe neither Royal Mail or the CWU are being up front on this issue.

[wayoutman]

so the company BORROWS a couple of bil that they cant afford to repay

somebodys head should be rolling over this P&L fiasco.

[feduppostie]

so Dingo what are we going to do about it?

[clashcityrocker]

Is there a simple way to lobby the European Union to ensure they don't grant Royal mail any state aid?
Although give the present government's attitude towards Europe, it seems unlikely any aid will be granted.
We are f****d in untravelled waters.

Even if they do get permission to take on the pension deficit, what difference will it really make?
The same people will just f**k up again.

[Cut Off King]

Is there a simple way to lobby the European Union to ensure they don't grant Royal mail any state aid?
Although give the present government's attitude towards Europe, it seems unlikely any aid will be granted.
We are f****d in untravelled waters.

Even if they do get permission to take on the pension deficit, what difference will it really make?
The same people will just f**k up again.

OHH YEA OF LITTLE FAITH.....The CWU will rescue us

[The FraudSquad]

The Government cannot sell of Royal Mail off until it takes on the pension deficit as no one will buy into it. However it cannot take on the pension deficit until the European Union grants Royal Mail state aid and guess what there is no certainty that this will happen. in fact the current state of the business is so bad especially the fact that Royal Mail has no money to pay either the commercial loan or the pension deficit past next march something the pension trustees know which they will have to act on. The real danger is that the European Union does not grant state aid but decides to grant resuce aid which then allows Europe to break up the company upstream and downstream and close the pension scheme completely.

.

Its not too hard to see Eu blocking the pension bail out would suit hm goverment down to the ground..publicly say we want to save the pension fund, while privately encouraging the EU to block state aid

[fishtank]

The Government want the pension "bail out" to go ahead.
To be more precise they want the £25billion in assets.
It's like a massive bank loan only they won't be around to make the repayments....that will be for future Governments to worry about...and of course us.

[Stormproof]

have they run out already? never got my payslip today