Brussels to probe Royal Mail privatisation

[TrueBlueTerrier]

http://www.ft.com/cms/s/0/206c89f0-b8fe ... z1TQ0bjYUC" onclick="window.open(this.href);return false;

[fishtank]

http://www.ft.com/cms/s/0/206c89f0-b8fe ... z1TQ0bjYUC

Pay wall teebs.
We aren't all made of money.
Summarise for the cheap seats please.

[DGP1]

Who cares about the right wing money grabbing bas**** want, their poxy 'newspaper' only peddles to the rich business (and I use that word very loosely) people.....................and I really hate pay walls

[TrueBlueTerrier]

http://www.ft.com/cms/s/0/206c89f0-b8fe ... z1TQ78f0NG" onclick="window.open(this.href);return false; See link fpr details

[chunk]

Europe is worried that rm is getting to much help from the government.
a quick glance at the dsa agreement can demonstrate how much "help" we have been receiving.
and since the government caused he pension deficit they are only fixing their own problem.

Ironically this might actually be to our benefit as the interfering Brussels bureaucrats may help delay
the sell off if they over-run on their probe or better still pick up on something they dont like.

[NWpostie]

The fact we are unsaleable would be nice

[donut]

http://news.sky.com/home/business/article/16039762" onclick="window.open(this.href);return false;

[blackadder]

chances are that to get round the problem they will sell the company for exactly how much r.m are in debt with there pensions. im sure the buildings, land, transport and such will more then cover that debt

[keithposty]

chances are that to get round the problem they will sell the company for exactly how much r.m are in debt with there pensions. im sure the buildings, land, transport and such will more then cover that debt

that would be nice but who do you think owns a few of the royal mail assetts by way of a mortage security

WAIT FOR IT

royal mail pension fund

the last one was march this year and used the old paddington office in london as security

[flaminmoses]

The fact we are unsaleable would be nice

we are unsellable at the moment anyway.
no one has the sort of cash needed and no bank is capable of lending what we would be worth.

[TrueBlueTerrier]

The fact we are unsaleable would be nice

we are unsellable at the moment anyway.
no one has the sort of cash needed and no bank is capable of lending what we would be worth.

Oh I am sure that Cameron and Clegg will make it as asy as possible for their Banker mates

[Martin Walsh]

it's what I told you sometime ago Europe has to grant state aid , until it does so the Government cannot take on the pensions deficit and therefore cannot get their hand on the assets. It is no means certain that Europe will grant state aid.

Until this has been sorted Royal Mail is a basket case , its new plan has no provision to pay the pension deficit after next March , it's new business plan has a zero balance sheet , it has no provision to pay the pension deficit , the commercial loan or colleague share. Therefore until the European state aid issue has been resolved than Royal Mail remains in a critical position.

Remember if European state aid is not given then the pension trustees will announce the grave situation and Europe may then give rescue aid which means they can sell parts of the company , close the pension scheme entirely.

Until the pension issue has been resolved no one will think of buying Royal Mail. by the way the CWU were in Brussels earlier this week giving evidence tonthe European commission.

Watch this space.

[fishtank]

its new plan has no provision to pay the pension deficit after next March , it's new business plan has a zero balance sheet , it has no provision to pay the pension deficit , the commercial loan or colleague share.

You would expect heads to roll for dragging the company into this kind of mess,blowing billions in the process and completely alienating the entire workforce.
Why aren't heads rolling dingo?
And more importantly...what does the CWU intend to do about it?

[BELIAL]

its new plan has no provision to pay the pension deficit after next March , it's new business plan has a zero balance sheet , it has no provision to pay the pension deficit , the commercial loan or colleague share.

You would expect heads to roll for dragging the company into this kind of mess,blowing billions in the process and completely alienating the entire workforce.
Why aren't heads rolling dingo?
And more importantly...what does the CWU intend to do about it?

What he's saying is RM will be given away by March. The loan will be written off; they've already said CS are worth pish ;and some legal eagle will determine that the workforce owe the pension fund money. I'm guessing that some tasty equity fund with several ministers acting as non executive directors will be paid a princely sum to take the RM "basket case" off the public books. Or something of the ilk, you know how it works

[Martin Walsh]

Fish tank your right heads should roll the problem being is that Moya Greene is blaming the original business plan on Crozier and of course Higson.

in terms of what the union is doing , the stategy report which is open to amendment should be sent out shortly in line with the pensions briefing on November 10th.

The CWU submission to European parliament details the CWUs response to Royal Mail's submission in which they state that modernisation is going well and world class mail's is transforming the industry and the only reason why revisions are failing or not going in is down to the CWU.

I agree communications are terrible and unacceptable given the mangnitude of what we protentially face.