colleague shares??

[Just_My_Opinion]

I just hope all the short-sighted moneygrabbers who voted 2010 in are happy now,most offices have recieved little,or none of their revision monies,and now it seems the same is true of the CS "cashcow".Thats what you get for trusting the RM/CWU coaltion....and you thought the ConDems were bad

You know what worries me most? The very people that voted yes would do it again. If the CWU sent a mailshot out in the next few weeks saying they have a new deal with Royal Mail and if they vote yes they'll get an extra £100. Regardless of what is in that deal, the same people only see stupid cash signs and not the bigger picture. Exactly why we are in the manure we are in.

[charlie1]

So it seems we are all about to be shafted yet again? It really is time the CWU walked away from this deal, it might just bring some of its many disillusioned members back onside. Most revisions are not working, the cost of the new equipment has been enormous but no real savings seem to be being made and the service provided to our customers is declining rapily.

At the moment the CWU is in something similar to the Lib Dems partnership with the Conservatives. Its time to get out, you dont really have any influence over policy, the members and public will back you because neither want to see the service deteriorate even further.

[DGP1]

TBH it's nothing worse than some of us on here said when the deal was announced. All the crap that 'we've been conned' comes as no surprise to me in fact, I'm pissing myself laughing over it I knew we'd get nothing and so it now comes to pass so for all you 'yes' voters who were looking forward to the money

[bunkerland]

when royal mail announce the value of colleague sharenext Tuesday members should b very angry ! We have all been victims of a con !

What's all this......"We have all been victims of a con!" stuff?

I would say If it has all gone tits up as you seem to be hinting,then it's Dave and Billy that have been the victims(or suckers) to the con,but they've then recommended the con to the membership,it may well be bad news for us,but i would say it's worse news for our esteemed union leaders who would surely have to tender their resignations immediately.

That said and done,better to just wait for Tuesday and see what the actual facts are!

[mvinny]

This was under the REWARD section of the agreement.

And as you can see it clearly states Royal Mail AND the CWU reviwed the share scheme so both are to blame if we get no bonus!

ColleagueShare/Lump Sums
As part of these negotiations Royal Mail and CWU have reviewed the ColleagueShare scheme. As a result the scheme has been enhanced in the following areas:
-
The 2010 dividend payment linked to business results due to be announced in June has been brought forward and the dividend will now be paid on ratification of the agreement.
-
The final instalment of ColleagueShares will be replaced for employees covered by this agreement, by lump sum payments including additional monies bringing the total to £1000 (pro rata for part time employees). These will be known as Transformation Lump Sums and payment is linked directly to key transformation milestones.
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. The current value is £1.51 per share. They will be bought back by the company in two equal parts in 2011 and 2012.
1200 8th March 59


Year 1. April 5th 2010 – 2% Increase to basic pensionable pay flowing through to all allowances London Pay Range, overtime and SA rates.

£400 lump sum (previously final ColleagueShares dividend) paid to all employees upon ratification of agreement.

Year 2. April 2011 – 1.4% increase to basic pensionable pay flowing through to all allowances, London Pay Rate, overtime and SA rates.

ColleagueShares buy back 1 currently valued at £536 per employee.

Year 3. April 2012 – 3.5% increase to basic pensionable pay flowing through to all allowances, London Pay Range, overtime and SA rates (re-opener clause).

ColleagueShares buy back 2 currently valued at £536 per employee.

[SWIM]

'con of the century'-SWIM

[robd]

I like Fishtank applaud Dingo for sharing any info he has with the masses of RMC,even if it's difficult and unpleasant to hear at least he has the class to not only keep us in the loop but to defend the unions position.
What i will say though is i don't agree with his assumption that we are now in a complete mess solely because of RMG.
Everyone remembers the trouble the union went to in selling this 'roadshow' of a deal to the membership,and that was done on a new understanding between both parties,and by complete agreement.
Like a lot of the previous posters have implied,the membership will be annoyed on tuesday,but it will not have anything to do with the 'share' price,but all to do with the unions lack of courage in tackling the core issues that led to the last dispute.
What's laughable is Royal mail tell us volumes continue to fall,while the CWU tells us that the membership is actually increasing not declining,it's like their singing from the same hymn sheet

[monkey]

Dingo, if we are to receive ANY ColleagueShares monies, do you know when we'll receive them (i.re which week for weekly paid and which month for monthly paid)??

[DGP1]

Dingo, if we are to receive ANY ColleagueShares monies, do you know when we'll receive them (i.re which week for weekly paid and which month for monthly paid)??

FFS listen very carefully, I will say this only once..........................you're not getting any money, ever it's all being used to pay for Moya to have her celebration at conning the Billy and Dave

[shimmyrule]

Well done billy and co,another masterstroke,time for all those involved in the negotiating team to stand down,and let guys who can conclude a deal with guarantees do the job,I'm raging,effin useless,its not a con,its bad practise not nailing them down getting guarantees off them.all work on revisions must cease,non cooperation,and a ballot for action started now,we've got a s**t deal,that's a fact,and billy and co must shoulder all the blame,as well as the 40000 non voters,assholes.

[smokerjim]

Well, if I can find one ickle silver lining, dingo's post has stopped dead in it's tracks all the other speculative posts of "How much am I gonna get? I can't wait *gleeful rubbing of money grubbing little mitts* either way, after 4 years, it's bound to be big *Ker-Ching, Ker-Ching*!!"

As one of those that expects RM to grab the gold mine, while we're left with the shaft, I'm with DGP on this one, and I'm lmao ( and for all of those that have voted YES in P&M and BT2010, well done & f**k you very much, it's been great working here, as you stuff up the job for us all! )

[dassex1]

how can the colleague shares be currently priced at £536 for each year,when people have just been paid out £1445 that have recently left? and to any reps on here that claim to know so much,tell people now and not next tuesday!! if you reckon you have such bad news!! after all,the only time you involve your members is when you want them to go out on strike....

[The FraudSquad]

Some of you need to read the message you will be told the value of colleague on Tuesday ! Did you know that before ? What's more it ain't going to be good news and is going to get worse !

So is that more than you know or not ! Ps moya Greene addressed the pec today !

all a bit patronising dont you think?

[G O Root]

how can the colleague shares be currently priced at £536 for each year,when people have just been paid out £1445 that have recently left? and to any reps on here that claim to know so much,tell people now and not next tuesday!! if you reckon you have such bad news!! after all,the only time you involve your members is when you want them to go out on strike....

These are my thoughts too. If we get little or no shares , how is it right to pay out to evr staff. Or is that what Royal Mail want , as i suspect , reward the people that have left. Lets face it all they do now is geared up to shitting on the workforce in the pathetic hope that everyone will tell them to stuff their job. If they get rid of part timers , fair enough there's plenty more, and if they get rid of long serving full timers... Bingo. What a shambles

[TrueBlueTerrier]

Look a lot on here might dislike me or even disagree with me but I do care and do fight for the members
The fact is fishtank when royal mail announce the value of colleague sharenext Tuesday members should b very angry ! We have all been victims of a con ! What's more it will be accompanied with a number of other cons including CPI on pensions , longer introduction of the deal and whether the business can afford the BTA deal going forward as they are not achieving a net profit value on the revisions or whether royal mail want a new business plan over and above what has been agreed!

I won't go into detail for obvious reasons but in my view members need to know the truth of what's happening and it's not the unions fault , it's the failure of royal mail's whole strategy which ihas now placed royal mail at risk !

Over and out till after Tuesday !

for fecks sake I hate these ' I know something but can't possibly tell you' posts

If you have been told then surely you have an obligation to 'the members' to tell them and not keep them hanging on and speculating till Tuesday - and ifit is as bad as you make out then why on earth would you not tell all? What it's really really bad but I can't tell you cos i'm not allowed?

either post what you know or don't bother posting anything

Reading between the lines I think courtney is on to something.

Announcement due !!! Bad news time and you can be sure they will want to bury a lot of bad news all in one go !!

Hmmm this post makes we wonder if Dingo is here to talk down the shares thingy so that if we get a decent amount but have hoops to jump through it will seem like a good deal, or if he is trying to stoke the anger in preparation for a move by HQ.

However just to point out you hide bad news with someone else's bad news or you sweeten the pill with some good news to hide the crap. You certainly don't hide the bad news by lumping it all together.