Royal Mail, "I'm alright Jack"

geri1965_2

Royal Mail made £321m last year. That is not "almost bankrupt".

fedupfreda

lemonjelly wrote: »

As an aside, regarding the comment of a lot of public sectors workers having the concerns for their job security, what do people think of the possible implications of this? We're being encouraged to spend our way out of this recession. The public sector has a large volume of the population in its staff. If they are worried about their futures, will they cut back on spending etc, & could this impact on our national exit strategy?

My BIL works in the civil service and I have heard, 3rd hand, admittedly, that when the respective party conferences were on, and everyone was discussing spending cuts, the feeling was 'if the tories get in thats the end for us'. So in his particular office, they were definitely talking about it. However, that was probably just talk, but you never can be sure. I am sure they are watching events with interest. However my feeling is the situation with the Royal Mail will peter out rather quickly as the posties realise they are not going to get anywhere with this government. Nu Labour are just Tories in red jackets, IMO.

The posties I have met have been some of the nicest people in the world. Unfortunately, 'nice' does not get you anywhere in this world, and is certainly not a quantifiable business asset. At the end of the day, bottom line is all that counts these days. Yes, we are all the sadder for it. But when has 'moral value' been on a par with 'financial value'? If that were the case, nurses, doctors and care workers would be paid more than bankers. Sadly not.

As to the comment about being encouraged to spend our way out of recession, wasn't spending beyond our means the reason we got into this mess in the first place? I know what clown and co are trying to do. Hoping that enough of us will carry on spending so that the cash keeps flowing into their coffers (and their back pockets, but thats another story :cool:) Unfortunately you cannot spend your way out of debt. As would be confirmed by most of us who live in the real world, outside of government . So I have no doubt that a lot of both public and private sector workers are keeping tight hold of the purse strings, just in case.:D

vivatifosi

geri1965 wrote: »

Royal Mail made £321m last year. That is not "almost bankrupt".

£321m is a drop in the ocean compared to an estimated £7bn of pension deficit.

http://www.channel4.com/news/articles/uk/where+next+for+royal+mail+pensions/3347297

abaxas

Personally I beleive that people should have the right to strike.

However if they do, the employer should have the right to terminate with minimum severance. Why should someone be kept on when they dont do the job employed for.

lostinrates

321 (million) sounds like a count down....

custardy

vivatifosi wrote: »

£321m is a drop in the ocean compared to an estimated £7bn of pension deficit.

http://www.channel4.com/news/articles/uk/where+next+for+royal+mail+pensions/3347297

a deficit created by a 13 year pension holiday from RM

ILW

geri1965 wrote: »

Royal Mail made £321m last year. That is not "almost bankrupt".

It is if compared with the capital employed to make it.

BeenieCat

I've had my post today, and it was my phone bill :eek: which i'd rather not have had

I thought they were striking everywhere?

RJP33

Sadly the strike will end up backfiring, it must put off a lot of private sector investors to see the union take such action.

Anyone can see the company needs a huge overhaul to bring it into the 21st century.

Alan_M_2

geri1965 wrote: »

Royal Mail made £321m last year. That is not "almost bankrupt".

It's perceptions like this that create the problems.

There is an enormous hole in the accounts that simply can't be plugged no matter how many letters are delivered or services cut. It is simply bankrupt due more than any other reason to it's pensions deficit.