propaganda

[Lincox]

Agreements are things made between gentlemen. There aint none of them sat on the Royal Mail Board.

[UnhappyGremlin]

You only have to remember one quote ' Once bitten twice shy'. RM must think we have very short memories!

Very true, Stormproof. I would not trust any agreement reached with RM - legally binding or otherwise!

It can't be legally binding.
Any new owner would just tear up any agreement.
They are just attempting to bullshit us into accepting the pay deal and privatisation with false promises.
Because they want to avoid IA, which is probably the biggest threat at the moment to privatisation.
A new owner doesn't even need to honour the contracts we currently have.

[El-Bandito]

Right. How did RM make £400 million profit? Anyone believe they could, just from putting up the postage?? Is it a scam? Is the country being conned? Is Cameron in on it? Propoganda is not just aimed at the workers, maybe the whole population of Britain!!

"How did RM make £400 million profit?"
I think ALL RM workers should be asking WHY only £400M? The answer is it's a smokescreen ,that's the answer.
Fact 1. Between the last 4 "Governments" RM has taken a "pension holiday"
Fact 2, RM has increased !st Class charges from 1995 (25p) to todays price of 60p a 160% rise in less than 20 years.
Fact 3. RM have cut well over 50,000 from the workforce,
Fact 4, RM has invested £100s of millions in modernisation already!!! Usually well before they release their "Annual Profits" to pay less corporate tax and plead poverty to the RM workforce who are looking for a decent working wage.
Fact 5. RM have, for the last 5 years stating that the "Mail Volumes" are constantly declining. This is a LIE, the truth is that the "revenue" has declined not the "volume" Though FACT 2 IS redressing that issue.
Fact 6.The government have stated that it plans to float RM(only) on the Stock Exchange in the Autumn. Even this can/will be postponed this year.

So how did RM only make £400Million profit?
By my Amateurish calculations RM have made over £3 Billion in profit in the last 3 years. Take away redundancy payments, modernisations, P&L investment etc , paying back £1.! Billion "government loans".
The "Government" in their wisdom are selling Our Royal Mail for around £2Billion. I am not saying that on average RM WILL make £1Billion profit for the next 3 years, but the infrastructure is already in place for the sell-off, why sell so cheap? We do not want Christmas bonuses Royal Mail, WE want a decent working pensionable wage, are YOU listening RM?????

[Lincox]

You wonder how a company that had over 30 billion pound in an underfunded pension scheme, can only be worth 2-3 billion pound. 30,000 vans at an average value of £3000 is 90 million alone, let alone the infrastructure of the company and property, and a turn over of 10 billion a year. Perhaps Fishtank can provide some light into such strange valuations of what is a prosperous business.

[WHITEANT]

If managers in team talks give u the garbage about ,how good these deals are and privatisation will be the best way .When at the end they ask is there any questions , ask them what THERE union UNITE think of it !!!! deadly silence !!!!

[UnhappyGremlin]

The profit for the last financial year was about or above £1.1bn.
As posted above, RM have been massaging figures to present the view point they wish us to see.
Once all this modernisation s**t slows down then we'll see a proper profit announced.
Think the intention is to get as much extra expenditure out of the way now, to show to the new share holders (if we're sold) a new larger profit, and seal new deals and/or big bonuses for the RM board.