Friday, June 11, 2010

Royal Mail To Be Privatised?

The U.K.'s Daily Telegraph is reporting that the Royal Mail could be partially sold off in an effort to solve the British postal service's worsening financial troubles .
Reporter Heidi Blake writes in an article about the history of Royal Mail, "The new Conservative/Liberal Democrat coalition announced its intention to sell off the Royal Mail’s delivery business but retain the Post Office network in public ownership."

In a related article that appears in the Telegraph, Ed Davey, the Postal Affairs Minister, is quoted as saying Royal Mail’s future is in doubt without fresh investment because of a “lethal combination” of a sharp fall in revenue from the declining number of letters and parcels being sent and a growing black hole in its pension scheme.

It goes on to say, "Postal workers could be given shares in any part-privatisation so they have an incentive to improve performance. "

Shown above, a privatisation protester.

To read the entire article, click here.
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posted by Don Schilling at 12:01 AM