Royal Mail Strikes As Share Dividend Imminent

[FatticusInch]

Stumbled across this story on social media.

https://www.opendemocracy.net/en/uk-royal-mail-water-companies-private-investors-profit-wages-privatisation-utilities/?utm_source=TikTok&;utm_medium=page_link&utm_campaign=Royal_Mail_Strike

From the link.
/While Royal Mail workers plan to strike over a below-inflation pay offer, their bosses are preparing to pay out millions to a Czech billionaire who’s the biggest single importer of Russian gas into the European union.

Daniel Křetínský’s Luxembourg-based investment firm owns more than a fifth of Royal Mail shares, and will be the main beneficiary of a £133m dividend pay-out by the company on 6 September. Shareholders also got a £200m payout in January, as the company raked in an adjusted operating profit of £750m. Křetínský is the CEO of central Europe’s largest energy group, Energetický a průmyslový, and a significant media mogul in Czechia.

The notoriously secretive Swiss bank UBS, the second biggest shareholder, will also get millions. Royal Mail’s boss got a £140,000 bonus in June as part of a £753,000 pay offer./

Apparently when RM was privatised in 2011 by the Tory/LibDem government the Chancellor’s(George Osborne) brother in law made a fortune out of the sale.
With this sort of skullduggery going on I’ve a feeling there’ll be an awful lot more strikes over the coming months and winter.

Who was it said on here recently that the rich getting richer whilst the poor get poorer was just a myth?

[tonyav]

With this sort of skullduggery going on I’ve a feeling there’ll be an awful lot more strikes over the coming months and winter.

So do I, and I don't blame anyone for striking in the present climate.
( the ghost of Thatcher and her sell off's ).

[bobbinwales]

Does this article also say RMs wage bill is 5.5billion so the increase of 5 5% basic (plus 3.5% linked to efficiency) plus employer NI would cost up to £ 300 million so that's a big dent in them profits.
Am not supporting big shareholder's ( apart from my pension fund and some local authority pension funds who invest in RM share's) but maybe your post's should at least try to show some balance eh?

[bobbinwales]

'Stumbled across...'
PMSL.

[Gromit]

They told us that privatisation would make the UK a shareholding democracy. It soon became apparent that foreign investors were the winners, controlling water, electricity, gas, railways and Mail companies. All of which are suffering from under investment (resulting in poor service) as profits go to shareholders dividends.

Harold Macmillan summed it up correctly in 1985 when he admonished Thatcher for selling off the family silver.

[1ozzy]

Those that pump the money in expect to withdraw the most.

[Zacs-Master]

As usual, Fatti’s post requires a fact check. It was George Osborne’s best man (not his brother in law). He was one of the employees of a company which made, admittedly, a lot of money out of the RM sale. How much he (Peter Davies) received personally I can’t discover.

I’m a little surprised that Fatti cites an organisation as a source which has a founding member who believes that Trump is a fascist.

[FatticusInch]

bobbinwales
//'Stumbled across...'//

It’s a fairly common phrase used quite often in English language, hence it’ll be a little alien to you……but keep up the stalking, it’s still flattering.

The wage bill has got nothing to do with it, the article is highlighting how major shareholders who don’t even live here are gaining massive payouts that they don’t really need, whilst employees feel moved to take industrial action as the cost of living crisis bites.
Good of you to ignore the £140,000 bonus on top of the half a million wages too for the boss.
Try not to be so selective when compiling your posts, eh?

[FatticusInch]

Zacs-Master
//As usual, Fatti’s post requires a fact check. It was George Osborne’s best man (not his brother in law).//

Ah, the video in the article said his then brother in law. Maybe they were confused with Osborne’s doctor brother who got suspended for giving drugs to his prostitute lover?

As for the Trump part, how on earth is that controversial? I know he’s an idol of yours but anyone in their right mind knows Trump is a fascist bully who believes he can do as he pleases, hence the current investigation?
Or are you just going to pay lip service to that?

[Zacs-Master]

I hate trump with a passion, so, you’re wrong again. I thought you were a supporter but looking at your posts on him was wrong too!

[Zacs-Master]

What do I think of the RM situation……
I think, although far from perfect, it’s how finance works and has done for centuries. To try to dismantle that and come up with a fairer system is the first step towards socialism. I think the unions’ behaviour is appalling given the fact we’re trying to rebuild a post-brexit / post-pandemic economy.

[FatticusInch]

Ah, the old ‘that is how finance and business works’ routine?

That is in ordinary circumstances. These are extraordinary and unprecedented in modern history circumstances(that will only deepen) and as borne out on news programmes yesterday the public are asking why there is so much corporate wealth and greed in the shape of profits and bonuses in the face of the harshest winter this country and its people will face since WW2?

[FatticusInch]

Zacs-Master
//I hate trump with a passion, so, you’re wrong again.//

Odd then that you would question an organisation that had a founder who deems Trump a fascist?
Crocodile tears? Or really can’t make up your mind or forgot that detail in your haste to criticise the OP?

[Zacs-Master]

I explained the Trump thing. I thought you were a supporter. I was wrong.

I appreciate we’re living in very strange economic times but, as I’ve said, I think union strike action is a very short sighted attempt to redress the balance.

Can I ask, Fatti, do you have a pension fund?

[davebro]

Stalked again Fatti? What a prat - incidentally, who were you in your previous incarnation(s)? Just askin.

[FatticusInch]

Zacs-Master
//I thought you were a supporter but looking at your posts on him was wrong too!//

You must be Stevie Wonder or heavily medicated to get even the faintest whiff that I’m any supporter of Trump.m?
What happened to the scrutiny and ‘basic errors’ you were going to be looking out for at 23.02 here?

https://www.theanswerbank.co.uk/News/Question1807940-1.html

PMSL!

[Zacs-Master]

Erm….you welded a quote onto your OP which had no relation to the subject you wished to discuss. Do you really want to highlight that fact yet again?

Could you answer my question whether you have a pension fund?

[FatticusInch]

Zacs-Master
//I explained the Trump thing. I thought you were a supporter. I was wrong.

I appreciate we’re living in very strange economic times but, as I’ve said, I think union strike action is a very short sighted attempt to redress the balance.

Can I ask, Fatti, do you have a pension fund?//

Lol, strange economic times? They’re unprecedented, not strange!
The only pension fund I have is with HM Forces, but I’m not expecting any Field Marshall’s or other high ranking officers to cream off any profits as that is not how it works, so what’s your point?

[FatticusInch]

davebro
//Stalked again Fatti? What a prat - incidentally, who were you in your previous incarnation(s)? Just askin.//

Get back to manning your machine gun on the white cliffs, Tor….sorry, Davebro.

[JDavis]

I don't understand the bit about foreign investors making money at our expense. Are they still allowed to do this now we've regained sovereignty?

[FatticusInch]

JDavis,
Only those in the multi-millionaire bracket are allowed to continue to do so.
I’m guessing that was furtively part of Johnson’s ‘oven-ready Brexit’ that we never really got the fine detail of?