Eircom ESOP: when's our next windfall?

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Re: eircom esop when's our next windfall?

It's definitely 2k. I received a mail from the ESOP today and letters will be in the post early next week
 
Re: eircom esop when's our next windfall?

This is a timely intervention by Evertondub. It is and has been a gravy train for union officials who at the end of the day are supposed to be serving the best interiests of the members both inside and outside the company. For those with full allocations who will get 2k where is your other 5k going? Into the black hole of eircom or into the pockets of those supposedly representing us. My suggestion is that anyone reading this emails the esop tomorrow and rings them on the Friday demanding that this gravy train for certain people be derailed and the gravy being distributed to those who gave up so much to get the train on the tracks in the first place. PRESSURE as suggested before is the key. I would even go so far as to say union subscriptions should be ceased asap.
 
Re: eircom esop when's our next windfall?

It is time for members to be heard for the first time. Use your email use the phone but more importantly ring your wages section and cease your subscriptions.
 
Re: eircom esop when's our next windfall?

Its definately 2k max, cheques out first week in July. The esop extra which is being sent out next week will tell us why its down
 
Re: eircom esop when's our next windfall?

paddyc said:
Its definately 2k max, cheques out first week in July. The esop extra which is being sent out next week will tell us why its down
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The words "boo" and "down with this sort of thing" spring to mind
 
Re: eircom esop when's our next windfall?

Riddick.............I'm absolutely amazed that you received any sort of correspondence from ESOP! Are you sending them complimentary breakfast rolls or something? What's your secret?

Couldn't agree more that pressure should be brought to bear on our 'representatives' and I use that term loosely. Far from quitting the union, I would recommend that all of you who have left should rejoin as independent members.

We have more power from within and there would then be a group of people involved who would represent ex-eircom workers with the right to reply as union members.

Just a thought!

Disgusted with the paltry 2K. How dare they withhold what is rightfully ours. Also agree with the theory that ESOP have become a self-perpetuating beaurocracy. There has been an inordinate amount of nest feathering done on the back of this scheme.

Time to get the begging bowl out to Mr Bank Manager........again! Talk about owing your soul to the company store!
 
Re: eircom esop when's our next windfall?

This is rubbish. The money is ours and should be distributed. If there plan is to reinvest they are not doing what we want. Should there not have been a vote on holding back full allocations?
 
Re: eircom esop when's our next windfall?

Grover said:
Should there not have been a vote on holding back full allocations?
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No vote .....& no hope by the looks of things.

I'm sure their letter, to accompany the bad news, will be full of empty promises for the future too!!
 
Re: eircom esop when's our next windfall?

looks like this years holiday aint gonna happen!Seriously though,2K,i mean they could have even managed half of what we are due at 3.5K.This esop thing is a windup,stop wasting OUR money and give us what we are due,ALL of it Now....an extremely p.....d off esop member
 
Re: eircom esop when's our next windfall?

Agree with Penpusher....
We have more power from within and there would then be a group of people involved who would represent ex-eircom workers with the right to reply as union members.
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Any idea how this could be done?
 
Re: eircom esop when's our next windfall?

As mentioned before you could join as an independent member.
 
Re: eircom esop when's our next windfall?

If they were to wind it up and payout everything, what would the payment be?
 
Re: eircom esop when's our next windfall?

The trust still own 35% of the company, and that isn't liquid. They may feel the best way of protecting that is to retain cash so they are in a stronger position (eg by buying eircom holdings, )
 
Re: eircom esop when's our next windfall?

If that is the position so be it. But this allocation should be paid and maybe with consultation future allocations could be held for the same reason. As previously aired people were expecting their full amount at this time.
 
Re: eircom esop when's our next windfall?

Here is the email I sent to Jerome Barrett, I expect most of you feel the same??
His reply is at the bottom, see if you think he'll listen to anyone....I don't think so.

Sir,
I have been told that we will not receive our full allocation and redemption of shares this month because the 'ESOP Board' does not want to be seen handing out money in case it causes a 'media storm'. If this is so, what has our pay-out to do with anyone but ESOP. I undersatnd that the Board wants to redeem the shares and then 'invest' it back in Eircom. I have left eircom and do NOT want my money put back into this dinosaur. The ESOP Board are supposed to work for the benefit of all ESOP members, it seems more interested in ignoring the majority of the members and going their own merry way.
If, as I have also heard we are given €2k, where is the other €5k going??
I don't think you understand the depth of feeling around this amongst the members. Many people, including myself, rely on this twice yearly pay-out to clear bills etc. and we would prefer to see the ESOP wound up and the outstanding monies distributed now ( as there is an agreement in place with the Revenue Dept to so do ) than have it re-invested in eircom to maintain the gravy train for a chosen few. I am, by the way,still a CWU paid up member for the last 30 years and I expect the union to work for my benefit even though I have left eircom.
Yours Sincerely, etc.


Seamus,
Note your comments. ESOP extra will be issued shortly. Please read it carefully. If you have further queries arising , please contact the ESOP Office.
Regards
Jerome
 
Re: eircom esop when's our next windfall?

have just received an email from esop confirming 2k distibution,and am absolutely disgusted and dismayed by this.This money is OUR money ,the board seem to think it would be not in be in the best interest during the present economic climate to distribute what is rigtfully ours.We did not create this climate,speculators,bankers and politicians are the ones who should be penalised.Its time for our voices to be heard.
 
Re: eircom esop when's our next windfall?

Montreal said:
Here is the email I sent to Jerome Barrett, I expect most of you feel the same??
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EXACTLY the same...

Not much of an articulate response from Jerome there, I have to say!

Looks like we're out of luck here, and I doubt that they'll divulge any information as to when we're gonna receive the other 5k
 
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