Eircom ESOP: when's our next windfall?

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SUPPORT Yes i think a protest outside the esop office is a good course of action. It will highlight our frustration and show these clowns that we are at the end of our tether and we are taking no more. Of course the unhelpfull helpline do not pass anything we say to the plonkers running esop, they are not going to put their own do nothing jobs at risk. As for jerome barrett do you honestly think he would meet us, you must be joking, he and the rest of those plonkers who run esop will be doing what they always do when questions need answering HIDE.
 
the lady i spoke today told me that i could send in whatever emails , or correspondance i liked , she was quite clear that they would be forwarded to jorome barret , if requested , but assured me that nether jorome barret , or anyone else would , or could give me an answer in relation to a payout for christmas . if you think about it , my understanding was that we were to have received this esop extra 21 weeks ago , the fact that we have not would suggest that they are stalling for time to get as near to christmas as possible in which case they probably feel that we wont be able to mount much of a challenge because of the time factor involved
 
You hit the nail on the head there paul thats exatly what they are doing. They are leaving it as late as possible to get esop extra 21 out so you dont have much time to think about it and just vote. Its all mind games, they know by now if they are going to give a christmas payout or not and those people who answer the phones also know. As i said before i rang a couple of years ago enquiring about a payout and i was told no decision had been made and yet the next day they announced a payout. When you ring that number they are almost sneering at you. Unless we are told we are getting a christmas payout vote NO to whatever they ask you to do in esop extra 21.
 
members i have just sent off a message to jerome barett . in it i feel i have expressed the collective views of the majority of contributors to this forum . i expressed my personal feelings to him that certain board members want to prolong the life of esop in order to keep themselves in a job . i pointed out that he should read the contrabutions of this forum to gage the level of anger that exsist among members in relation to the way this on , off , christmas payout is being handled . i also said i felt the esop extra 21 was being delayed on purpose so as to leave no time for challenge , or proposed protest action . i also said we are sick to death of all this cloak and dagger stuff . i hope i have not offended anyone by sending this message
 
paul o b said:
i pointed out that he should read the contrabutions of this forum to gage the level of anger that exsist among members in relation to the way this on , off , christmas payout is being handled .
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Jerome - if you're reading this post, can I have my money please?

Thanks Heaps,

dr1nky
 
If you are reading this jerome esop held back a lot money from us in the summer, holidays had to be cancelled etc. At least make it a good christmas for us.
 
From what I hear we will get a payout this finacial year simply to encourage us to vote yes. However I understand that the company is keen that ESOP make a financial contribution to help the debt situation. This along with the volutary paycuts , RBU and VL exits will show the bankers that we are serious about keeping the company solvent
 
brasstax , it is entirely possible that we could get a payment this christmas , but i think what is annoying people is that they MUST know by now , and the fact that they keep stringing us along with this silly way they have of going on by saying WE KNOW NOTHING . what are we children ?
 
Hi Jerome, try and be honest for a change and tell us what the story is. Its not too many weeks to christmas and just incase you did not know some of us have young people at third level and need the money that is ours anyway and i am sure I speak for most members when I say forget about increasing our steak on a chance and give us what is ours NOW.
 
Will people relax - do they really want to destroy value in the ESOP by forcing distributions at the bottom of the market?

Surely people haven't become that reliant on the ESOP money that they now need it to pay for Christmas and Summer holidays? This is the type of irresponsible financial management that got the government into the state its it - relying on once off windfalls to meet ongoing expenses.

Let the markets recover then distribute the cash - we'll all the better off in the end - otherwise ESOP will be gone in 2 years and and what will you all do for the Summer holidays in 2012?
 
big spender , i would suggest that maybe your user name is approapriote to your current financial status , but please dont assume that everyone else is in the same position . there are people depending on a christmas payout , which has been the traditional practice over the last few years . furthermore there IS grounds to question whether or not the management of the esop will be prudent going forward in light of the recent disclosure from imagine communications that they intend to undercut by up to 50% and effectivaly render eircom surplas to requirements . the esop board have an obvious desire to increase the stake to 50% in eircom i would contend that their motive is highly questionable to say the least , and certainly against the wishes of the vast majority of the membership both inside , and outside eircom
 
Big Spender said:
Will people relax - do they really want to destroy value in the ESOP by forcing distributions at the bottom of the market?

Surely people haven't become that reliant on the ESOP money that they now need it to pay for Christmas and Summer holidays? This is the type of irresponsible financial management that got the government into the state its it - relying on once off windfalls to meet ongoing expenses.

Let the markets recover then distribute the cash - we'll all the better off in the end - otherwise ESOP will be gone in 2 years and and what will you all do for the Summer holidays in 2012?
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Speaking for myself I did rely on the esop money this summer becuase I was under impression that we would receive the same as every other year same as most people on this forum. I am not dependant on it though and had I been advised earlier that we would not be receiving the funds that would have been fine. Nobody expects the esop to last forever and when it is gone we will all manage fine. The issue is that we are not being told one way or the other soon enough. If we are not going to receive an allocation this christmas just tell us already so that we can reevaluate how much to spend on pressies etc. Personally speaking until I know how much ( if anything) I am going to receive I cannot plan anything and that is really annoying
 
Just ignore posts like that of big spender, he or she is obviously just trying to wind people up. I would guess big spender most likely works in the esop unit, hence the name big spender.
 
Support. ESOP will be wound up in 2013 anyway as it was only scheduled to run for 10 years. But the answers from the helpline are always the same. People are really frustrated this year because of the economic climate and the refusal of these jokers to let us know about allocations but this is the way ESOP has always behaved. Jerome i hope you do read this and pass the level of anger on to the board. Only a few of us post but the majority read this site.l
 
vincentj said:
Just ignore posts like that of big spender, he or she is obviously just trying to wind people up. I would guess big spender most likely works in the esop unit, hence the name big spender.
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This is the type of carry on that typified my years in eircom - if the opinion doesn't fit then desparage it.

Everybody here says they aren't dependant on the money yet everyones Christmas plans revolve around whether or not they get the cheque - you guys go figure.


Pesonally I've spent the last few cheques as I got them but on once off items like doing up the house so while its nice to get it it won't effect what I plan to spend on Christmas - pity is most others here seem to be hooked on it.
 
Big Spender........yes I am dependent on a payout this Christmas. I lost my job earlier this year. I am lucky enough to have secured another one but at a much reduced take home pay. (8.5k less per annum). Of course I have done my best to cut my cloth etc. there are lots of things I don't have money for anymore and it would be a relief to know that Christmas at least would be taken care of.

There is merit in what you say but at the moment I don't have the luxury of waiting for markets to change and I imagine I am not the only one. There were shares redeemed in our names in June and we received only a portion of the proceeds, at the very least we should receive the balance due to us on that redemption. I hope it stays fine for you Big Spender because when luck changes the real world is not a nice place to be.
 
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