The cheque’s in the post

[Broxi51]

http://www.thesun.co.uk/sol/homepage/ne ... hares.html



But unless a large chunk of the Royal Mail is managed privately, the badly struggling business will go under, Mr Cable has insisted.

What does he mean by a large chunk? Deliveries ? MC's? Surely he is referring to the fact that not all of RM is being privatised?

[gary1975]

any pay out i bet its pro rata

[TrueBlueTerrier]

any pay out i bet its pro rata

Can't be unless the issue the shares on a pro-rata basis - but at the moment they are thinking about either free shares or heavily subsidised which makes me think everyone will get the same amount of shares if they are free. Also its not Royal Mail that will give us (or sell us) the shares but the Government so I doubt they will make any such distinctions.

[clashcityrocker]

any pay out i bet its pro rata

Can't be unless the issue the shares on a pro-rata basis - but at the moment they are thinking about either free shares or heavily subsidised which makes me think everyone will get the same amount of shares if they are free. Also its not Royal Mail that will give us (or sell us) the shares but the Government so I doubt they will make any such distinctions.

Are the full-timers about to be shafted?

[stodgy88]

so ive worked 22 years full ime ,been last 4 years part time and i should get less than someone whos been here for a couple of years,but is fulltime. should be based on length of service ha ha.

[TrueBlueTerrier]

Are the full-timers about to be shafted?

No we all will be - this is a bung so that we think we aren't being Shafted.

Its like prison TV - its given to you to take your mind off what happened in the showers.

[colintres]

Now im sure some clever bod can link the wording of the privatisation bill here but if memory serves it was something like " 10% of the shares would be MADE AVAILABLE to staff" not given.

[careful]

They been screwing us for last ten years ...one 16kilo bag of work = profit ten years ago...ten bags of work =deficit ten years on... where all a bunch of mugs

[arnold cheshire]

They been screwing us for last ten years ...one 16kilo bag of work = profit ten years ago...ten bags of work =deficit ten years on... where all a bunch of mugs

i had more than one 16kg bag on delivery 10 years ago

[woody]

if we are suppose to get 10% of the shares why are we only getting 2000 when you devide 3000000000 billion into 1400000 posties it should be 21428 thousand each

[db]

if we are suppose to get 10% of the shares why are we only getting 2000 when you devide 3000000000 billion into 1400000 posties it should be 21428 thousand each

And now what's 10% of 21k!!??!! Oops!!

[sprinkle]

The company is probably sinking but the management still seem to get their performance bonuses. I wonder why .

The company isn't sinking. Don't think it's even close. Not saying it's doing brilliantly, but it's nowhere near as bad as is being made out. The books have been cooked for over a decade.

The combined value of the commercial buildings must be worth an absolute fortune too.

Don't bet on it. Recent overhall of D.O cost 89k, straight from the contracters mouth. Building then sold for 90k and then sub-let back. What the f**k kind of control on assets is that if this is country wide?????

[stephen500]

http://www.thesun.co.uk/sol/homepage/ne ... hares.html


By TOM NEWTON DUNN, Political Editor

POSTIES are in line for a £2,000 windfall each by the end of the year when the Royal Mail is semi-privatised.

All 140,000 workers will be given shares when the Government sells off a big stake in the state firm.

Business Secretary Vince Cable has ruled 10 per cent of its total value will be handed over to staff.

And Whitehall experts have estimated its price is at least £3billion, The Sun has learned.

The handout may even be larger if Royal Mail’s value is higher — with some City analysts putting it at closer to £4billion.

Ministers hope to launch the sell-off by the autumn, but officials are finalising details of the share scheme now.

They will either be free or heavily discounted in what will be the second biggest giveaway for state workers moving to the private sector — after BT’s sell-off in 1984.

It will also be the biggest privatisation since the railways were flogged in the 1990s.

Last night Business Minister Michael Fallon said: “Parliament decided two years ago that employees of Royal Mail should share in its success.

“It is our intention to have such a scheme in place at the time that we conduct a sale of Royal Mail.”

It is yet to be decided how much of the creaking operation the Government will keep.

But unless a large chunk of the Royal Mail is managed privately, the badly struggling business will go under, Mr Cable has insisted.

The flotation will also create a desperately needed £1billion windfall for public coffers.

The Government is taking on the Royal Mail’s £10.3billion pension deficit as part of the plans. But the Post Office will remain in public hands.

Let's be clear if we get £2000 in shares, we will pay for it. With diluted terms and conditions. As I write this Royal Mail is seeking once again to attack our pensions.
The £2000 will be paid for out of your pensions, your hourly rate etc.