Royal Mail final tranche sell-off 'a disgrace' says CWU.

[POSTMAN]

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CWU PRESS RELEASE - GOVERNMENT ANNOUNCEMENT ON SALE OF REMAINING SHARES

Royal Mail final tranche sell-off “a disgrace” says CWU.

Responding to the Government’s announcement today (Monday) that its remaining shareholding in Royal Mail is to be sold, possibly within days, CWU general secretary Dave Ward branded the decision as “the clearest possible indictor of the Tories’ true colours”.

Dave added: “A week ago Jeremy Corbyn spoke to thousands of people calling on the government to protect the People’s Post at the CWU’s rally in Manchester - today the Government has announced they are selling the final public stake in Royal Mail to their friends in the City.

“This fire sale nails the lie that the Tories stand up for the interests of ordinary people. By their actions today they have made it abundantly clear that they are only interested in privatisation dogma and making the rich richer - even when their actions place public services at risk.

“The remaining government share in this profitable company should have been used to safeguard the public’s voice in Royal Mail and ensure the continuation of daily deliveries to every address in the country. The Tories have instead chosen and ideological course that puts the fundamental ethos of a centuries old national institution in jeopardy.

CWU deputy general secretary (postal) Terry Pullinger added: “Selling off the final 14 per cent of Royal Mail threatens the very existence of the one price goes anywhere, six day delivery service that is one of the great inventions of our social history.

“When the first part of this privatisation was completed by the Coalition we were told that this was because Royal Mail needed private capital to invest in its future, but if you ask the workforce they have seen hardly any new investment but have witnessed the worst type of short term investors making a killing without any regard to the long term future of the company or the services it provides to the public.

“The CWU will continue to campaign against unfair competition and the race to the bottom, which privatisation inevitably brings. Both existing, and any new shareholders should be in no doubt – any attempt to undermine the our legally binding agreements, terms and conditions, job security or the six day delivery Universal Service Obligation will be defended by us by all means possible including, if necessary, strike action

[datasaint]

Well the USO is enshrined in law so even if RMG is 100% privatised they still have to honour this.

[wandle]

http://www.cwu.org/news/archive/royal-m ... s-cwu.html


“The remaining government share in this profitable company should have been used to safeguard the public’s voice in Royal Mail..."

Or better still, WE will hold a combined 11% of the company's shares, starting when the shares the government gifted (bribed us with) are released out of Equiniti's hands and into ours, as individual shareholders. But of course most people will not be interested in holding the shares and voting at the AGM. They will sell them as soon as they can, for 'free' money, thus handing them to the very fat cats they blame for starving the company of investment

[rambo1]

We, the employees are now the largest collectively % shareholders. Would be a shame if everyone sold as we could really have a voice together.

[toomuchcoke]

Or better still, WE will hold a combined 11% of the company's shares, starting when the shares the government gifted (bribed us with) are released out of Equiniti's hands and into ours, as individual shareholders. But of course most people will not be interested in holding the shares and voting at the AGM. They will sell them as soon as they can, for 'free' money, thus handing them to the very fat cats they blame for starving the company of investment

Don't need to wait for them to be prised from Equiniti's "cold dead hands" in order to attend and/or vote at AGMs. You can do that now. Also the percentage could increase, when the Save-As-You-Earn scheme matures. It won't of course, because far too many people will sell them as soon as possible[1] so they can spend the money but we could always hope!

[1] Though I seem to recall claims by some on this site that they'd be worthless long before the 3 years where up, and there's less than 1 year to go until they can be extracted (albeit taxed)!