colleague shares??

[POSTMAN]

[fishtank]

I have been talking to a couple of the lads who left on EVR late last year and they recieved £1,400 in share payments in the last week from RM.

So they have to worth that at least ....................... :vcfo

I got this info as well.

They have left the business so it could be argued that RM are legally/contractually bound to pay them what they are due...ours on the other hand are still in the "pot" and could,just like the third share payout...be negotiated away.

[smokerjim]

I have been talking to a couple of the lads who left on EVR late last year and they recieved £1,400 in share payments in the last week from RM.

So they have to worth that at least ....................... :vcfo

I got this info as well.

They left the business and so would have received their total share entitlement, ours would be in two payments or half this year and half next year and as is often quoted - "shares can go up and down"

Yes, BUT, these shares aren't real, they are phantoms....so what RM will say is "shares can go up & down, but the movement of our phantom shares correlates directly to the holder's pay grade "

[the disco devil]

we are getting £1445 a couple of lads who have left got theres last fri

[spoodoo]

We never hear anything about money due to us ,or anything that might boost morale . I f you askthe bosses about it all you get is oh im not sure ,,,ill get back to you !!!!!!!!!!!!!!!!!!!!!!!! Has the union left the country?? All we hear is were gonna take you down the conduct code route if you dont do this do that etc Why do they never listen to the workers ,thats what good man management is ,place does my head in .

[Just_My_Opinion]

we are getting £1445 a couple of lads who have left got theres last fri

Just called Royal Mail Human Resources with reference to the 'infamous' Colleague Shares.

I was told by a recorded message that if my call was about Colleague Shares there was no further information available. When any information is available, line managers would be informed.


Great! When does the workers get to find out any information!?

And furthermore, I was told there was no further information available. I haven't received any information about the shares in years!

As someone said above, where is the top dogs in the Union?

[Big Daz]

What info is there to give ?

Everything you need to know apart from the value of shares when they get brought back is known.The CWU did not want it or agree to the CS scheme!!! In my view point it is the responbility of RMG and not in way shape of form the CWU to give you any CS info. What info would CWU have anyway?

Share were allocated in 2007 and 2008 none were issued in 2009. RMG should have sent you a letter in 2007 and 2008 telling you what your allocation was. The BT2010 agreement saw agreement given to not procedd with the third sahre allocation and instead have transformational lump sums. Half are due to be bought back this year and half next year as per the original plan document. You can if you so wish keep hold of them and sell them back in go next year. If you look at the CWU website you will see a a recent LTB on CS. CWU have contacted RMG with reference CS scheme and were told that a independent valuation was underway when that is complete RMG will give out more info and if any is given to CWU HQ they will pass it on in a LTB.

As a rep Im fed up with questions from the mbrs that need to go managers!! Its RMG/leighton/cozier stupid scheme and they can bloddy well take the queries.

[fishtank]

Its RMG/leighton/cozier stupid scheme and they can bloddy well take the queries.

No it's not Daz.
By including the colleagueshare money in the Business Transformation Agreement it became a jointly endorsed scheme as did everything else in the agreement.
It is despite what you think the CWU's responsibility to see that the terms of the BTA are upheld ...and that includes the colleagueshare payments.

[terryfortlea]

£350 is what ive been told we will be getting from the shares. last month the value was £500 but now company been valued its dropped.

[Big Daz]

Its RMG/leighton/cozier stupid scheme and they can bloddy well take the queries.

No it's not Daz.
By including the colleagueshare money in the Business Transformation Agreement it became a jointly endorsed scheme as did everything else in the agreement.
It is despite what you think the CWU's responsibility to see that the terms of the BTA are upheld ...and that includes the colleagueshare payments.

I would beg to differ with on this occasion . I see CWU mbrs giving their blessing to a proposal to swop the third allocation of shares (which were not issued) for 1000 pounds worth of payments linked to the implementation of revisions. We (members of the CWU postal section) did not endorse the CS scheme and never have done and proably never will do.

We endorsed a alteration to it but certainly in my view that does not mean it becoming a full blown componet part of BT2010

[dvbuk55]

Its RMG/leighton/cozier stupid scheme and they can bloddy well take the queries.

No it's not Daz.
By including the colleagueshare money in the Business Transformation Agreement it became a jointly endorsed scheme as did everything else in the agreement.
It is despite what you think the CWU's responsibility to see that the terms of the BTA are upheld ...and that includes the colleagueshare payments.

I would beg to differ with on this occasion . I see CWU mbrs giving their blessing to a proposal to swop the third allocation of shares (which were not issued) for 1000 pounds worth of payments linked to the implementation of revisions. We (members of the CWU postal section) did not endorse the CS scheme and never have done and proably never will do.

We endorsed a alteration to it but certainly in my view that does not mean it becoming a full blown componet part of BT2010

So is this a question of RMG imposing its will on a weak union who dared not defy the decision RM took? Is this yet another indication that it is not a wholly shared and inclusive modernisation which COULD have been renegotiated in the many months of chattering to come up with the deal of the century.

[fishtank]

We endorsed a alteration to it but certainly in my view that does not mean it becoming a full blown componet part of BT2010

We endorsed both the alteration and the final payments otherwise they would not have been included in the agreement at all and certainly not in the section headlined Reward Summary

And of course there is this...

Additionally both parties recognise that ColleagueShares operates in a way that replaces our traditional approach to productivity and that only by reaching this agreement and working together to deliver transformation will the value of ColleagueShares be higher

Sounds like a joint endorsement to me.

[dvbuk55]

We endorsed a alteration to it but certainly in my view that does not mean it becoming a full blown componet part of BT2010

We endorsed both the alteration and the final payments otherwise they would not have been included in the agreement at all and certainly not in the section headlined Reward Summary

And of course there is this...

Additionally both parties recognise that ColleagueShares operates in a way that replaces our traditional approach to productivity and that only by reaching this agreement and working together to deliver transformation will the value of ColleagueShares be higher

Sounds like a joint endorsement to me.

Your repertoire never ceases to amaze me ft............. you must have a big one to store all that information Strange that those who profess to know so much actually have selective memories...................still there is that old catch all for them......"the members voted it in"

[Big Daz]

Looks to me like a plan to increase CS value and unless CWU are going to support a relacement plan such as employee ownership which is not supported then its all about trying to get a better deal for the members from a RMG scheme that nevr had CWU support to start with.



I see BT2010 as CWU attempting to get some control over a scheme that had no input into or wanted in the first place.

Look the shares were issued and its only natural that mbrs will want to get as much money as possible and I think Dave and co realised that and acted upon it, but that does not mean in my view a endorsement of the scheme. Were is the comment we were wrong to oppose it we thinks its a great idea and would to continue with some sort of share plan. I seem to recall a CWU top bods desire to get rid of the first two allocations as well as the third but that couldnt be achieved

Soory Mr fistank still not seeing it as a endorsement of the CS scheme from the CWU mbrs and officers.

Now if you will excuse me I must dash as back to FT hours this week and I dont want to be late on my first day.

[spoodoo]

we were told we will not get any shares