Last update: 08-Dec-2013 9:50 pm
Sunday, December 08, 2013
Trinidad & Tobago Guardian Online
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Do trade unionists hate workers?
One of the first British stories that caught my attention last week Thursday when I landed in London was the news that the coalition government here was proceeding with a plan to launch an initial public offering (IPO) of shares in Royal Mail, the 497-year-old postal service in the United Kingdom.
In July, the David Cameron government announced it intended to dispose of a majority stake in Royal Mail before April 2014, when the fiscal year in Britain ends, and that individual UK investors would be able to participate in the privatisation.
The UK government also announced in July that the 150,000 UK-based employees of the institution would be able to get shares in the company for free—that ten per cent of all shares would be reserved for the employees—through an employee share ownership plan. In addition, the employees were given the assurance they would get priority if they applied for shares outside of the employee share ownership plan.
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