Eircom ESOP: when's our next windfall?

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Re: eircom esop when's our next windfall?

dr1nky said:
.....but they always send us correspondence beforehand anyway?!
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aye they do - but this is now bordering on messing people around.

as already stated people have made decision on expecting to recieve this payout - like me, was hoping to clear some debts up, and if this falls through, I am going to get screwed.

Here's hoping someone with ESOP is actually paying attention to this (though I doubt it)
 
Re: eircom esop when's our next windfall?

lets get this straight. The shares will be redeemed. The board will then decide whether or not we get the money or if they will re-invest some or all of it in the company. At this stage a substantial majority of ESOT are now outside the company and would probably prefer if the whole thing was wrapped up and monies distributed. At the end of the day no employee or ex employee has made a killing on this, maybe a holiday here or there or upgrading their car but there are a lot of people at union level have made a hell of a lot of money and they want to keep this going as long as possible. Maybe it's time for voices to be heard.
 
Re: eircom esop when's our next windfall?

I agree with Alfaphil regarding union people doing well out of it. I certainly don't want to see our money going back into a black hole. Surely we have to have some say in what happens. Anyone I have spoken to, past and present staff, want the money paid out. That should be enough for 'The Board'. What do they hope to achieve by investing it in eircom...might as well set fire to it. If the shares are redeemed then they must pay it out....all of it. People are depending on it, I know I am.
 
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Re: eircom esop when's our next windfall?

Alfaphil said:
Maybe it's time for voices to be heard.
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I have an idea...

In 1972 a crack commando unit was sent to prison by a military court for a crime they didn't commit. These men promptly escaped from a maximum security stockade to the Los Angeles underground. Today, still wanted by the government, they survive as soldiers of fortune. If you have a problem, if no one else can help, and if you can find them, maybe you can hire ...The A-Team.

I'll give Hannibal a shout and see if there's anything that he can do. If he is able to help, there's a box of Cubans in it for him out of my allocation!

If he's busy, sure I'll give Michael Knight a buzz. I'll splash out on a full valet for his car if he can help us ...bound to put a smile on Kitts little face, as well as all of ours!
 
Re: eircom esop when's our next windfall?

Thanks for the laugh drinky , think we missrd the boat though . . . . . . . . Mr T was here recently
 
Re: eircom esop when's our next windfall?

Im afraid lads its a case of non information.
Every member should contact esop and demand info.
Its the board's duty to keep the members informed and up to date.
Remember......PRESSURE
 
Re: eircom esop when's our next windfall?

Clojo is right. Pressure has to be exerted. Anyone reading this should get on to anyone they know in eircom and spread the word. If there are enough posts here and it is brought to the attention of those who matter maybe the "mighty board" will take notice. Don't forget the union is run and paid for by the members (something the union folk should be reminded of). I really think the whole thing should be wrapped up while there is something left before our money is swallowed up. (drinky keep up the humour)
 
Re: eircom esop when's our next windfall?

KPI said:
Mr T was here recently
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I was thinking I seen him walking down O' Connell eating a
Snickers all right....

....on a serious note though, 'Pressure' is the key! Clojo & Alfaphil, this particular topic has hailed 25,327 views since January 2008. We're all in the same boat, I suggest setting a day next week to hammer ESOP with calls demanding info (as sugested previously). What about Friday of next week to give us a chance to get the word around? We do 'own' 35% of the company after all and shouldn't be kept in the dark like this (in my humble opinion
 
Re: eircom esop when's our next windfall?

Friday sounds good to me!!! After all, we do own 35% of the company, eventhough we have no say in what's going on......it's a joke.
Do eircom employee's still have an internal computer forum??
It maybe an idea for a someone to post a messege and get the ball rolling for Friday.
 
Re: eircom esop when's our next windfall?

They removed that forum years ago. They probably didn't like the troops rallying. They frown upon staff interaction.

Even the union guys are tight lipped at the moment. Usually they get some info before the rest of us but if they did they are not saying. I spoke to 3 of them over the last couple days and none of them would say. As Hamlet would say "Something stinks in the state of Denmark" (Sorry only quote I remember and in solidarity with the leaving cert students who had to sit the English Paper II test today. They also got screwed by "the man" this week).
 
Re: eircom esop when's our next windfall?

Yes spread the word around about Friday. Let the pressure build and keep it on. All we want is what we are due. The lack of information is astounding.
 
Re: eircom esop when's our next windfall?

Agree with Alfaphil,this whole esop thing is becoming much too secretive for my liking,someone somewhere is making a pile of money out of this and its definitely not the ordinary esop members.Lets wrap this up once and for all and stop drip feeding us information and money
 
Re: eircom esop when's our next windfall?

I heard 2k from my source....

....downer!

(and my mate feels that this is a definite!)
 
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Re: eircom esop when's our next windfall?

Noooooooooooo........that's not good news.

2k, but that's only if you have the full 11 drops.

What are they playing at? :mad:
 
Re: eircom esop when's our next windfall?

this is sounding worse and worse as the weeks go by without any solid information
 
Re: eircom esop when's our next windfall?

dr1nky said:
It looks suspiciously like they’re playing a game of ‘Give the Shareholders SFA’!!
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hey I remember that game - isnt that the sequel to "Shareholders and the lost allocation"
 
Re: eircom esop when's our next windfall?

Well if that is the case there should be a new game called the union and its lost members.
 
Re: eircom esop when's our next windfall?

Agree that pressure needs to be exerted. Do the esop have an email address? Would be interesting to see what would happen if they got a flavour of the views on here by email. That way there's a record of the communication. If we phone we'll just get someone who know's probably as little as ourselves. The need to know our views not be given the chance to fob us off.

We must remeber that the ESOP has become an entity in it's own right. A self-serving entity for the board members. Some of our previous colleages have got quite wealthy out of it and my suspicion is that they want to continue to re-invest to keep the whole thing rolling for their own benefit. It's a gravy train and if they wind it up, as the majority her seem to want and I agree, the gravy runs out for them. Its a bit like expecting turkeys to vote for Christmas! But that should not stop us letting our views be known.

The job of a board of trustees is to represent the best interests of the members or the majority of the members. The majority of the ESOP (I estimate at least 60%) are no longer in the company. It does not serve our interests to have our money ploughed back into it. The only reason to reinvest would be to exert political muscle on the board and to keep the gravy flowing as I've already said. For those of us outside the company this is of no advantage. It makes no financial sense to reinvest in the company particularly at this time, as far as I can tell.
 
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