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Picked this out from the Conservative Manifesto. It will be interesting to see what Labour include.
"We will ensure Royal Mail continues to deliver
the universal postal service in a way which
is affordable for customers as well as being
efficient and financially sustainable. Saturday
deliveries are important, particularly to
businesses, which is why we are clear they will
not be scrapped. Conservatives are clear we
want a continued six-day service, which Labour
and the trade unions would put at risk"
"Conservatives are clear we want a continued six-day service, which Labour and the trade unions would put at risk"
So the Tories want a six-day service to continue the risk to IDS. Well thank goodness we shan't get the same lot in power the next time around.
Sooner this entire fiasco is resolved the better.
Statement from Labour manifesto,
"Royal Mail remains a key part of the UK’s infrastructure. Labour will ensure that any proposed takeover is robustly scrutinised and that appropriate guarantees are forthcoming that protect the interests of the workforce, customers and the United Kingdom, including the need to maintain a comprehensive universal service obligation.
Labour will also explore new business and governance models for Royal Mail so that workers and customers who rely on Royal Mail services can have a stronger voice in the governance and strategic direction of the company"
Last line should read: "so that workers can have a stronger voice in the governance and strategic direction of the company", those subs buy the CWU a lot of influence with labour. However, relationship between unions and management is closer in Germany, so unions having more of a voice won't be a new thing for Seidenberg. What may be different is that German unions are more pragmatic compared to a Dave Ward led CWU.
I wonder how Kretinsky will measure the risk of recent events. He's talking with Badenoch this week, which will most likely be irrelevant.
Also the compensation for abuse of market position claim from Whistl has raised it's head again. IDS seem to be discounting the claim, but it may have merit since Royal Mail have had a court case go against them on this.
From an article in The Times today it seems that Ward is pushing hard, ahead of a meeting with DK, for part ownership by employees of RM. No doubt he is not envisaging the employees will put any money in - so a free carry. He also wants to have a much bigger say for the employees (ie him) in running the business. I can’t see DK agreeing to that. The free carry might not be too bad but Ward will oppose anything that reduces jobs and DK is very keen on PUDO which will do that.
How Ward thinks he can improve the RM business when he was in denial for so long about its £1m a day losses is difficult to grasp.
Shareholders thought it was Czech mate -but it's now complete and utter stalemate
Sim
The Unions make less than half of Labours donations.
Labour has moved away from union influence.
in election season i don't believe any promises made from either party. ward talks a load of unachievable *******s to justify his position.
Hounddog, unfortunately, the business has been using the "£1m losses" phrase for so long (I believe that Crozier started it off) that anyone who has been an employee for more than fifteen years takes it with a pinch of salt.
Simx, I agree with you that this week's meeting between Kretinsky and Badenock is a dead rubber. It's a bit like Sunak saying that the first flight to Rwanda is taking place on the 25th of July, so presumably he has booked a holiday in Kigali?.....lol
So 1 million losses so are you saying there needs to be a tax investigation into undeclered profits? Wherehave all these millions gone and how?
LDB "The Unions make less than half of Labours DONATIONS. Labour has moved away from union INFLUENCE"
Are you seriously suggesting that Labour would risk alienating a group that provided "almost" half its income???
LDB, "So 1 million losses so are you saying there needs to be a tax investigation into undeclered profits? Wherehave all these millions gone and how?"
I'm not sure that I understand the question or your point fully?
My point was that at several junctures, over the last twenty years and usually during pay negotiations, the business has trotted out this mantra of "losing a million a day", which has usually proven to be incorrect, so when it gets trotted out again then the employees just ignore the statement.
Redceo, £5.9m isn’t “almost half” of £21.5m. The extent to which Labour has shifted away from Union influence under Starmer is reflected by the fact that the biggest Union contributor Unite has not endorsed the party manifesto.
That said the fact that the manifesto reconfirms Labour’s view that Royal Mail is a strategically important part of the national infrastructure is a fairly big message to Kretinsky and his ilk.
.
Derek, I was reply to LDB's comment where it was stated "The Unions make less than half of Labours DONATIONS"
In fact you are both correct. The amount in question is "less than half" although I see your point.
Fact is that the Unions do contribute a vast sum to the Labour Party and it would be a mistake to believe their views would not be given more consideration as a result.
It will be very interesting to see what actions the party of business and wealth creation do when elected. It will be scrutinised for sure, if they get the guarantees they are looking for and more of a voice for businesses and consumers will it just be waved through? If not what happens next? If Labour are being less influenced by unions they might be keen to show that early in their tenure. Genuine open questions as I dont see the easiest way forward. Happy to hear opinons.
There are so many if's and but's flying around currently. As a result some have taken "their money off the table"
Quit while your ahead they say. Others with Gonads might think differently. Only a matter of time and we shall see.
Interesting that we still have the one shorter and no increase since the little flurry up to the 5th. There seems to be a great deal of uncertainty as to the final outcome here.
Redceo agreed the newest shorter has taken a calculated gamble and interesting as you say no further movement from them. I have taken a what I regard as a fairly sensible approach here. We have seen how dramatically this can move both ways during times of such uncertainty. The country has many many more major issues to be dealing with and IDS takeover although will be looked at wont be near the top of the list of things to be tackled.
Labour briefly mention regulation in general terms around a few areas perhaps OFCOM and other such bodies could do with a shake up at some point.
Red, that's one declared shorter. There will be other undeclared shorts less than .5%. Anyone selling when the short was announced could buy back today and be 10p up per share.
Sim, Yes I'm aware of that but usually pay little heed to those under the 5%.
It's when we get a number of shorters above the 5% that the trouble starts.
A number of shorters above 5%!?. Then it really would be time to fly the white flag and head for the hills.
JB. Totally agree and sometimes the possible outcome is not easy to judge. This is one of the times when I just have to go with my gut feeling. Then none to blame other than myself.
So I'm still a shareholder here and risk losing the profit that has been gained over time. Of course it's a gamble but that's what makes life more interesting.
Good luck to those that continue to hold.
Sim.
Oh dear "head for the hills" lucky we weren't relying on you during our previous scuffles 😀