368 staff chose not to accept free shares

[POSTMAN]

http://www.bbc.co.uk/news/business-24442861" onclick="window.open(this.href);return false;

Just 368 out of the Royal Mail's 150,000 staff have chosen not to accept free shares in the privatised company, the BBC has learned.

Latest figures show that 99.75% of staff have accepted the share offer, which will be worth about £2,000.

BBC political correspondent Norman Smith says government sources hope the overwhelming acceptance will undermine the threat of sustained strike action.

The public can apply for the shares online until Tuesday 8 October.

Members of the Communication Workers Union (CWU) are voting on whether to strike over the government's privatisation plan.

The ballot closes on 16 October and strike action could begin as early as 23 October.

Our correspondent says that the government hopes that the backing of postmen and women for the share sale "might have drawn the sting" from any industrial action.

"Ministers deliberately opted in Royal Mail staff to the share scheme, so those wishing to reject the offer had to fill out a lengthy form," he said.

The Royal Mail sale has been heavily oversubscribed, meaning that members of the public are unlikely to get all the shares they have applied for.

The oversubscription has sparked a row over whether this means that the service is being sold off too cheaply.

Business Secretary Vince Cable has written to Labour's Chuka Umunna rejecting his assertion that the sale is "short-changing" taxpayers, while providing a windfall for hedge funds and professional investors.

Mr Cable said the criticism was "irresponsible", as it may imply an "easy bargain" was to be had.

[daveallum]

I don't think having 368 posties who refused the free shares will have any bearing on the strike ballot,most posties are intelligent enough to know that once privatised,their pay,pensions T&C's etc will start to get clobbered so why not grab something for nothing.If I was still employed by RM I would have accepted the free shares but still voted 'YES' in the ballot.

Good luck guys,I think you'll going to need it.

[chooch]

as is their prerogative...

and as for 'Our correspondent says that the government hopes that the backing of postmen and women for the share sale "might have drawn the sting" from any industrial action.'.. the gov. must think we're even more stupid than our union allows us to be portrayed (I am right that the 'free' shares don't actually have a value to RM staff 'til the moment they're actually sold? remembering the T&Cs in place.)

[Surreypostie]

I think the government could be in for a bit of a shock if that is their thinking. I want a rise, I want them to leave my pension alone and I'm sick of hassle when I don't have time to complete my delivery as we only had half a revision with no amount of indoor work taken into account. I'll have their shares, not expecting to get much for them in 5 years, but I've still voted YES.

[wandle]

It's very easy, in an anonymous poll, to say that you won't accept the free shares. Thousands of posties cannot even bother to vote on important issues, like pay deals, even though it takes only minutes to tick a box and stick a stamp on the envelope.

I will be amazed if those who go to the trouble of refusing the shares exceeds 1% of the eligible employees.

Just as I predicted. Less than a quarter of one per cent of eligible employees consider their principles to be worth more than a 'bung' of £2000+
Hell, it would be stupid to turn down free money

[trythat]

Concidering none of us will have any shares until at least 3 years and thats a really big if, especially if RM do a colleagues shares deal on us again. Why would staff turn them down, as we are the prople who will be making the profit for the shares to go up, those of us that remain in work following the most make profit culture that we will be in now, which will be even worse than the must make savings, lapsing, firing FT staff etc.

[clashcityrocker]

Just as I predicted. Less than a quarter of one per cent of eligible employees consider their principles to be worth more than a 'bung' of £2000+
Hell, it would be stupid to turn down free money

It isn't free money.
The dividend you receive will be paid (if you are lucky enough to still be in employment) for by the degradation in your colleagues terms and conditions.
And I see you have bought in to the lie about the bung being worth £2000+.
You have no idea how much your shares will be worth when you eventually are allowed to sell them.

[fishtank]

The dividend you receive will be paid (if you are lucky enough to still be in employment) for by the degradation in your colleagues terms and conditions.

I think to be fair though even if all of us had refused the shares they would still have been sold and we would still be facing the same degradation in our colleagues terms and conditions so since practically there is nothing we can do to stop this scenario actually happening with regards to the shares it really comes down to a matter of whether you have a conscientious objection to being issued with shares.

I respect your position a great deal but...if my terms and conditions really take a battering in 3 years time I will likely want out and if I want out I want to take as much as I possibly can with me because at the end of the day I can't pay bills with my conscience.

[k979aaa]

8 off them were non executive board members who were ordered not to except free shares as they don't work for Royal Mail.

[windermeredave]

How exactly did they refuse them? as far as I am aware none of us have been asked if we want them or not.

[k979aaa]

How exactly did they refuse them? as far as I am aware none of us have been asked if we want them or not.

You got a pack which you cannot miss it had a piece of A4 paper in it and an envelope you fill it in and send it back most chucked it in the bin with the pack and thought colleague shares again hope they don't do it with the ballot papers though!

[Red Robbo]

How exactly did they refuse them? as far as I am aware none of us have been asked if we want them or not.

You got a pack which you cannot miss it had a piece of A4 paper in it and an envelope you fill it in and send it back most chucked it in the bin with the pack and thought colleague shares again hope they don't do it with the ballot papers though!

Is that what it was

[UnhappyGremlin]

Latest figures show that 99.75% of staff have accepted the share offer, which will be worth about £2,000.

Not likely. More like £500 to £1,000.

BBC political correspondent Norman Smith says government sources hope the overwhelming acceptance will undermine the threat of sustained strike action.

Then they are set to be extremely disappointed.

Our correspondent says that the government hopes that the backing of postmen and women for the share sale "might have drawn the sting" from any industrial action.

Just because most haven't opted out, does not mean, in any way shape or form, that posties back this sale at all.

As expected, they use the facts as they stand to promote their viewpoint and propaganda.

Why not do a survey of staff and see if those results would back up the highly erroneous claims in this article.

[4everblue]

just a question,i'm not great at maths but if only 368 turned down the shares how many of the union reps(and the people on here for that matter) who now want you to back them have turned what everybody is describing as a con,bung,bribe etc etc.I accepted them and am not afraid to say so.Yes I understand the principle behind peoples objections but at least all including the union reps should at least be truthful about it

[UnhappyGremlin]

just a question,i'm not great at maths but if only 368 turned down the shares how many of the union reps(and the people on here for that matter) who now want you to back them have turned what everybody is describing as a con,bung,bribe etc etc.I accepted them and am not afraid to say so.Yes I understand the principle behind peoples objections but at least all including the union reps should at least be truthful about it

Try making whatever point/question you're asking readable.