Inneos Grangemouth dispute

[RobM]

I fully support the industrial action taken by the Inneos employees at Grangemouth. Anyone else agree with this?

 

[Lester Bangs]

Yes absolutely

The whole notion that future pension liabilities need to be disclosed on the balance sheet, thus weakening the net assets of a company is lunacy enough but when companies decide to stop future employees joining Pension scheme's in order to mitigate this liability then that is just wrong!

The company makes massive profits and they can afford to pay the pension liabilities.

 

[RobM]

Pensions get more interesting the closer you get to retirement.

A pension is your income from retirement to death! It is an important subject.

 

[A Century United]

Fully on their side on this one - even though it looks likely to severly affect my mobility up here in the Highlands (Scottish, not Boulevard) for a while.

 

[Mr Gilbo]

and down here too. the old man reports that shell and sainsburys are sold out, but bp on eastwood road has fuel. people seem to be panic buying.

 

[Mad Cyril]

and down here too. the old man reports that shell and sainsburys are sold out, but bp on eastwood road has fuel. people seem to be panic buying.

The BP garage in Hadleigh is completely out of charcoal BBQ briquettes and the rumour is you can't get a Feu Orange air freshener anywhere for love nor money.

I have noticed that nowhere is selling smurfs as well. Coincidence?

 

[Yorkshire Blue]

I fully support the industrial action taken by the Inneos employees at Grangemouth. Anyone else agree with this?

Can't say I've actually looked closely enough into what it is that they are protesting about. Anyone care to explain?

 

[MK Shrimper]

Regards closing final salary pensions to new starters I believe.

 

[Interpol Shrimper]

Regards closing final salary pensions to new starters I believe.

That's how it stands now, initially they wanted to revise everybody's pension scheme (think it also relates to how Inneos acquired the site from BP)

 

[Yorkshire Blue]

Regards closing final salary pensions to new starters I believe.

If that is the case, I can't see what it has to do with existing employees.

As much as I'd like one, final salary pensions are an anachronism.

 

[MK Shrimper]

If that is the case, I can't see what it has to do with existing employees.

As much as I'd like one, final salary pensions are an anachronism.

My @rse they are. It's refreshing in this me-generation world that these workers are sacrificing their own money for people who don't even work for the company yet. Directors of these companies get massive share options, golden handshakes etc, even when they f**k up and cause huge losses, why p1ss on the people that actually earn the wealth?

Like I've said before, it's rumoured that Notwork Rail want to stop these as well and I am 100% comitted to strike action should people like Iain Coucher with their £500,000 bonuses even try it.

 

[The General]

More strikes up and coming at the RM by the sounds of it - all down to pensions.

 

[Yorkshire Blue]

My @rse they are. It's refreshing in this me-generation world that these workers are sacrificing their own money for people who don't even work for the company yet. Directors of these companies get massive share options, golden handshakes etc, even when they f**k up and cause huge losses, why p1ss on the people that actually earn the wealth?

Like I've said before, it's rumoured that Notwork Rail want to stop these as well and I am 100% comitted to strike action should people like Iain Coucher with their £500,000 bonuses even try it.

That is b******s.

What right do they have to dictate what contracts the company can and can not enter into with third parties? I have no problem with people striking over matters directly concerning them, but if this is what they are striking about, it has nothing to do with them.

 

[Firestorm]

There was a bloke on the news last night who said that there are 60 apprentices in the place and if they (the workers) signed away these kids pension rights , they would never be able to look them in the eyes again.

Local blokes sticking up for the futures of local kids in the face of an employer keen to wring every last penny into the shareholders pot...

As for the Call for Governmental intervention...the Government lost all rights to intervene when it de-nationalised to company who previously owned this lot , so they could then sell it off for a quick bob .

 

[MK Shrimper]

Completely disagree. Why should people not fight to keep terms and conditions for EVERY employee, even those yet to be employed? Inneos made a profit of £300M last year - how much of that did the "man of the floor" see?

 

[Yorkshire Blue]

Completely disagree. Why should people not fight to keep terms and conditions for EVERY employee, even those yet to be employed? Inneos made a profit of £300M last year - how much of that did the "man of the floor" see?

Because you are potentially tying an employer to an unsustainable burden, which could cripple the company in the future, like the American car industry, and cause all those employees to become unemployed.

How much of Inneos shares are held by pension funds?

 

[MK Shrimper]

I have no idea. How many shares are held by managing directors with holiday homes in Tuscany and offshore accounts?

 

[Usual_Suspect]

Completely disagree. Why should people not fight to keep terms and conditions for EVERY employee, even those yet to be employed? Inneos made a profit of £300M last year - how much of that did the "man of the floor" see?

A fair bit I'd have guessed, they get paid a fecking fortune up there.

I guess it's all part of being in a Union - you all back each other no matter what the situation is.

 

[MK Shrimper]

A fair bit I'd have guessed, they get paid a fecking fortune up there.

I guess it's all part of being in a Union - you all back each other no matter what the situation is.

But that £300M profit is AFTER wages have been paid out, from the tea boy to the Managing Director. That £300M goes direct into the pockets of shareholders (or pension funds or holiday homes in Tuscany....)

 

[Yorkshire Blue]

I have no idea. How many shares are held by managing directors with holiday homes in Tuscany and offshore accounts?

Well I'm pretty sure that far, far, far more are held by institutional shareholders (ie pension funds) than by management.