Tuesday, 5 November 2013

Royal Mail: People buying what they already own

You can look at it from every angle and you are still left scratching your head, puzzled, unable to understand why people would like to buy what they already own. Owning a few shares of a company by no means secures your employment and if any of the former workers of public Royal Mail thought that by buying shares they would make their jobs safer, they are deeply misguided. Add to that the fact that if you only own a few shares your return - in the event of the company making any profits - would be minimal or negligible.

The sale of Royal Mail was a political decision to weaken the Trade Unions that a few years ago had 57% membership in the public sector. I don't have the updated figures of Trade Union membership but I reckon that after each process of privatization the figure goes down and down and down. In the private sector, Trade Union membership was already less than 15% and I don't believe that it will go any higher because the trend is negative.

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