TUC boss raps Royal Mail privatisation sale

[TrueBlueTerrier]

http://www.dailystar.co.uk/news/latest- ... ation-sale" onclick="window.open(this.href);return false;

MINISTERS were accused of botching the privatisation of Royal Mail and letting the City make a killing.

Unions claimed taxpayers were short-changed by £1billion after a buying frenzy when it floated on the London Stock Exchange.

Shares snapped up by small and big investors soared by 39% in value within an hour of trading opening. That sparked angry claims that the Government had sold off the world’s oldest postal service cheaply.

Two-thirds of the shares went to City investment funds. The rest were bought by the public. They were valued at 330p but hit a high of 459p on their trading debut yesterday. The increase boosted Royal Mail’s value from £3.3bn to nearly £4.5bn.

TUC General Secretary Frances O’Grady said: “Privatising Royal Mail has become little different from selling five pound notes for four quid.”

PM David Cameron said the sale was good for the economy.

Billy Hayes, of the Communication Workers Union, said: “It’s Cameron rewarding his mates in the City.”

[Brain Fury]

Somebody really needs to write Billy a new line.

[dvbuk55]

Somebody really needs to write Billy a new line.

Headline in tomorrows Financial pages "Dave Cameron calls union leader Billy No Mates"

[Ahebban]

Billy is speaking at the Unite the Resistance ''Organising to Win'' Conference on 19 October. Leaving aside the ballot result, I truly hope he does have something fresh to say on the subject!

[dvbuk55]

Billy is speaking at the Unite the Resistance ''Organising to Win'' Conference on 19 October. Leaving aside the ballot result, I truly hope he does have something fresh to say on the subject!

Judging from the performance of the last few years having Billy Hayes speaking on "Organising to Win" may not be the most inspiring choice........had it been just "to" he may have managed but "Organising & Winning" somehow don't gel.