Eircom ESOP: when's our next windfall?
- Thread starter luckylou
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Hello everybody, I spoke wuth a NAT EXECUTIVE member yesterday,a meeting was held on wed 18th with the branch secs and esop, they were informed by esop that there will be NO PAYOUT THIS YEAR and that was why a memo was issued by union hq.Definite no payout was emphasised to me.The union were also told a march payout is a probability.Sorry for bad news but for me the saga ends now good luck to all subscribers, still have a good christmas and maybe a prosperous new year.
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irishpancake
Guest
ex-union:
At this stage you are sounding more and more like the fabled "boy who cried wolf".
You have been wrong so many times in the recent past, citing your so-called inside contacts at CWU National Executive level, Credit Union officials, that even if you are correct, nobody would believe you.
Why do you continue to feed the rumour-mill with ill-founded hearsay, gossip and conjecture?
At this stage you are sounding more and more like the fabled "boy who cried wolf".
You have been wrong so many times in the recent past, citing your so-called inside contacts at CWU National Executive level, Credit Union officials, that even if you are correct, nobody would believe you.
Why do you continue to feed the rumour-mill with ill-founded hearsay, gossip and conjecture?
whether ex union is right , or wrong . about what the union said . i keep saying this and nobody seems to accept it . THIS IS NONE OF THE UNIONS BUSINESS . this whole esop thing has nothing to do with ANY trade union , it is a company set up for the purposes of distributing shares to participents . no union within eircom , trade union , or credit union or any other kind of union has any right to know what is going on in relation to our shares before the members themselves . i object strongly to a situation where NONE MEMBERS of esop , TRADE UNION , OR CREDIT UNION should be advised of what the state of play is before us . i have noticed all down through the years that the union will only associate itself with esop when things are going well , when things are NOT going so well they tell you they have nothing to do with esop and thats a fact
Quote from Jerome in ESOP Extra May 2006: We believe this is an attractive proposal for all parties involved and are pleased to be joining BCM in making this offer to eircom shareholders. We look forward to increasing our ownership stake in eircom as part of the proposed transaction, and to continuing to play a key role in the future success of the business. (AND WE BELIEVED)
L
LongGone
Guest
I did the same, and for more or less the same reasons. I really am annoyed about how little information we are getting, but a NO vote won't help anyone. Even if it got the board to take more notice and become more transparent, it seems we would have shot ourselves in the foot in the process.
S
slinkykitten
Guest
As a former employee with a full allocation, I find it frustrating that unless you still have friends on the "inside" its extremely hard to know whats going on. When I took the VL a couple of years ago the job market was booming, but like a lot of exers am now looking for a job and its not easy!! Why can't the ESOP take into consideration that a lot of members may be finding themselves under financial pressure for one reason or another, maybe their spouse or partner has lost their job, and we might have needed the payout this year?? 48 pages of information in the ESOP extra and the two questions we all need answered were not addressed - how much and when?????
Brendan Burgess
Founder
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Would someone volunteer to summarise this thread?
It's indigestible now.
It's indigestible now.
There might be a payout in Dec ...there might not ....ESOP aren't saying anything one way or the other, rest is all rumour and people giving out about the above.
You have the makings of another 'sunscreen' song there Paddy
heh I think it could be a christmas number 1 - and we'd be gauranteed to get a payout if we released it
Well....it would appear that a payment is indeed off the cards for Christmas. Personally, I feel physically sick when I think of what's facing me financially. This could have given me a dig out.
Perhaps we could find out where the esop are planning to have their Christmas party and stand outside with our noses pressed up against the glass and just stare at them.
Perhaps we could find out where the esop are planning to have their Christmas party and stand outside with our noses pressed up against the glass and just stare at them.
I doubt it - maybe they are waiting for the next ESOP publication to tell them where their christmas party is
That wont work ....it'll undoubtedly be tinted glass which will ensure that the average ESOP member is unable to see in! The best plan might be to just walk into wherever it is that the party is being held, sit down beside them and help ourselves to their food and drink - it is our money that'll be paying for it, I'm sure, after all!
I doubt it - maybe they are waiting for the next ESOP publication to tell them where their christmas party is
...ha ha!
B
Burman
Guest
I am ex eircom for 5 years and more than ever this year I NEED an allocation before Christmas. I 'd be interested to know what percentage of esot members are ex eircom and how many are still employed. I voted yes because I don't think there is an alternative at the moment. I still have a big problem with the lack of info but how do we change that. I am not saying what ESOT are doing is wrong but we need to be more involved. I can't see any logical reason for this silence. Is there anything people can do as a group to force their hand ?
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