RM workers will be offered cheap shares to head off strikes

[TrueBlueTerrier]

http://perspicacious.co.uk/all-the-news ... ons/32637/" onclick="window.open(this.href);return false;

Royal Mail workers will be offered cheap shares to head off strikes

Tens of thousands of postal workers will be offered cheap shares in Royal Mail – in the hope of averting strike action over the Government’s controversial privatisation plans.

Vince Cable yesterday announced the sale would involve the largest share ownership scheme of any sell-off for 25 years.
The Business Secretary told the Liberal Democrat conference that at least 10 per cent of shares would be reserved for postmen and sorting office staff. They could be offered a discount or even given them for nothing to sweeten the deal.
But he reassured activists that the post office network was ‘not for sale’, adding that there would be no repeat of the mass closures seen under Labour.

Union leaders, who have already warned that the Royal Mail sell-off could spark a wave of postal strikes, dismissed the share offer as ‘deeply patronising’.

Government sources said, however, that ministers believed that giving workers a share in the business would generate the kind of staff loyalty and commitment seen in mutually-owned organisations such as the department store John Lewis.
While they insisted the employee share deal would not dilute ‘value for money’ for the taxpayer, they confirmed that the public purse would be lumbered with Royal Mail’s pension scheme, which has a deficit of more than £10billion. Without this, ministers argue it would be impossible to find a buyer. A Government source described the position of the company’s pensions scheme as ‘one of the worst in UK corporate history’.


Mr Cable said the sell-off was essential to bring in the billions of pounds of private capital needed to modernise the postal service and enable it to compete. But he said the ‘engagement and participation of staff ’ was also vital in turning round an institution he described as being one of the ‘cornerstones of British life’.

He said Royal Mail was ‘struggling under the weight of huge pressures, from email and falling mail volumes, from a dire pension position, from a lack of money to invest.

‘The only way to save it for the future is to bring in new private capital to support the ongoing modernisation and growth opportunities. The enormous public-sector deficit means that the taxpayer does not have an endless supply of money to meet the company’s investment needs.’

Ministers argue that a sell-off is the only way to maintain the universal service guarantee which allows users to post a letter to anywhere in the UK for the same price. But opponents claim that the selloff is a ‘privatisation too far’ which could cause irrevocable damage to a cherished British institution.
A Postal Service Bill is expected next month, setting out the coalition’s plans for the sell-off. Sources say it is still undecided whether to float Royal Mail on the stock market or sell a major stake in the business to a rival, such as Dutch firm TNT or German giant Deutsche Post.

A final decision will depend on ‘market conditions’.

[axeman]

whose manifest is that idiot vince cable reading from as i'm sure he's so far removed from reality it's not his ! or his departments ! ...a 100% tw*t

[bunkerland]

As if us posties could be bought over by the promise and lure of a quick buck,when we know it'll lead to our own downfall,they must think we're stupid!

[dvbuk55]

As if us posties could be bought over by the promise and lure of a quick buck,when we know it'll lead to our own downfall,they must think we're stupid!

Damn right there bunkerland................................ wonder how many shares I'll be getting and how much they'll be worth in 5 years time - just hope they get move on before I retire, could be a nice little nest egg.

[maisymoo04]

not that old our you dv

[dvbuk55]

not that old our you dv

I certainly am maisy - they need to get a move on in the next few months if I'm going to get my villa in Spain

[britwrit]

In light of changing market conditions, the growing interconnectedness of the EU postal market, I do have quite a specific idea about what they can offer to give me. Something a little immediate in its reward than shares.

But seeing as how our competitors read these boards, I won't go into the finer details....

[bunkerland]

As if us posties could be bought over by the promise and lure of a quick buck,when we know it'll lead to our own downfall,they must think we're stupid!

Damn right there bunkerland................................ wonder how many shares I'll be getting and how much they'll be worth in 5 years time - just hope they get move on before I retire, could be a nice little nest egg.

Still might be a little time to wait for that though dv,my sleepy little town is full of wrinkly old ex-posties who thought they'd be getting shares in Royal Mail one day,i see a couple of them whizzing about on their mobility scooters! Or are you thinking of taking advantage of the government's work till you drop scheme,that would give you an extra five year sentence,raising your chances considerably of pocketing the said windfall, but at what cost.......

I would have thought now's a great time to go anyway,flying high on the back of "the deal of century" which in itself suggests a pretty barren 90 year spell looming!
A couple of our oldies left last year with over 80 years service between them,i'm damn sure they've had the best of this job!

[dvbuk55]

As if us posties could be bought over by the promise and lure of a quick buck,when we know it'll lead to our own downfall,they must think we're stupid!

Damn right there bunkerland................................ wonder how many shares I'll be getting and how much they'll be worth in 5 years time - just hope they get move on before I retire, could be a nice little nest egg.

Still might be a little time to wait for that though dv,my sleepy little town is full of wrinkly old ex-posties who thought they'd be getting shares in Royal Mail one day,i see a couple of them whizzing about on their mobility scooters! Or are you thinking of taking advantage of the government's work till you drop scheme,that would give you an extra five year sentence,raising your chances considerably of pocketing the said windfall, but at what cost.......

I would have thought now's a great time to go anyway,flying high on the back of "the deal of century" which in itself suggests a pretty barren 90 year spell looming!
A couple of our oldies left last year with over 80 years service between them,i'm damn sure they've had the best of this job!

Like all things Bunker, I was born either too soon or too late. 5 Years later and I would have had the free love era, long hair and willing chicks. 5 years sooner and I would have already retired when the work was a joy.

[maisymoo04]

hahaha

[kendo1]

If you were given BT shares when they were privatised,how much are they worth now ?

[Lounge Lizard]

"Government sources said, however, that ministers believed that giving workers a share in the business would generate the kind of staff loyalty and commitment seen in mutually-owned organisations such as the department store John Lewis." - but don't John Lewis employees own a large proportion, even 100%, of shares in the company ?
10% is neither here nor there, an irrelevance, an insult.

[meercat]

If you were given BT shares when they were privatised,how much are they worth now ?

EPIC FAIL

They are worth about the same in monetary terms today (1.40p) as they were floated at (1.30p). Price has been below 1.30 recently.

In real terms they are worth a lot less however as one pound thirty could by you a lot more in 1984 than it can today. You recieve dividend payments of arounf 7p per share pa with BT so 1,000 shares would net you 70quid a year.

http://business.timesonline.co.uk/tol/b ... 053086.ece

[BELIAL]

If you were given BT shares when they were privatised,how much are they worth now ?

EPIC FAIL

They are worth about the same in monetary terms today (1.40p) as they were floated at (1.30p). Price has been below 1.30 recently.

In real terms they are worth a lot less however as one pound thirty could by you a lot more in 1984 than it can today. You recieve dividend payments of arounf 7p per share pa with BT so 1,000 shares would net you 70quid a year.

http://business.timesonline.co.uk/tol/b ... 053086.ece

Tempting ain't it