Gladys Posted October 17, 2023 Share Posted October 17, 2023 1 hour ago, Two-lane said: From somewhere or other... "The shareholders of any company have a responsibility to ensure that the company is well run and well managed. They do this by monitoring the performance of the company and raising their objections or giving their approval to the actions of the management of the company. " https://www.informdirect.co.uk/shares/shareholders-rights-guide/ The source of your quote may give context. The well run and managed bit relates to the appointment of the board and the monitoring comes from receiving the annual report and accounts. There are also rights to inspect certain records. The last bit to approve actions of management is definitely a gray area, and does not mean all decisions have to be referred to shareholders for approval, although the board would be cognisant of the wishes of its shareholders. These basic rights can be amended and enhanced, either by the constitution or a shareholders' agreement. Or they may be changed by some external requirement such as regulation or adherence to a governance code. But the fundamental position is that the shareholders provide the capital and receive the profits, the day to day management is with the board. A shareholder becoming too embroiled in management risks being seen as a shadow director and being lumbered with all the duties and obligations of a director, thus piercing the corporate veil. 1 Quote Link to comment Share on other sites More sharing options...
Banker Posted October 18, 2023 Share Posted October 18, 2023 Despite a few posters believing that Treasury are pulling the strings etc https://www.manxradio.com/news/isle-of-man-news/cannan-letting-steam-packet-operate-at-arms-length-vital/ Quote Link to comment Share on other sites More sharing options...
John Wright Posted October 18, 2023 Share Posted October 18, 2023 Two things today. 1. SPCo Chair complaining “too much political interference” 2. SPCo have based their opposition to arbitration on claim the MIRS cannot provide qualified arbitrator. MIRS say they can, which has led to the following from NAUTILUS Press release: Nautilus welcomes clarification from Manx Industrial Relations Service that arbitration is available. Nautilus International, the union for maritime professionals, has welcomed a clarification from the Manx Industrial Relations Service who stated that arbitration is available. Nautilus is currently in dispute with Isle of Man Steam Packet Company after they threatened Nautilus members with fire and rehire if they did not accept fundamental changes to their employment conditions. After two years of negotiations reaching an impasse, Nautilus requested Steam Packet Company to engage in independent arbitration as per the agreement between Nautilus and the company. Steam Packet refused this request on the basis that there was no available arbitration on the Isle of Man. Nautilus senior national organiser Garry Elliot said: “This is a welcome clarification from the Manx Industrial Relations Service who have said an independent arbitrator can be arranged. “This should end any ambiguity on whether arbitration is available to Steam Packet Company to resolve this dispute. “Nautilus is ready to enter arbitration to bring this dispute to an end and avoid any disruption through potential industrial action. “We hope Steam Packet Company will reassess their previous refusal and agree to engage in this reasonable process with an independent arbitrator.” ENDS 2 Quote Link to comment Share on other sites More sharing options...
Banker Posted October 18, 2023 Share Posted October 18, 2023 (edited) Steam packet letter about attempted political interference, why change to live on board etc. however some posters eg 2112 etc still believe treasury are pulling the strings!! https://www.manxradio.com/news/isle-of-man-news/spc-chairman-increasing-levels-of-political-interference-in-the-company/ Edited October 18, 2023 by Banker Quote Link to comment Share on other sites More sharing options...
The Listening Ear Posted October 19, 2023 Author Share Posted October 19, 2023 On 10/18/2023 at 5:42 PM, John Wright said: Two things today. 1. SPCo Chair complaining “too much political interference” 2. SPCo have based their opposition to arbitration on claim the MIRS cannot provide qualified arbitrator. MIRS say they can, which has led to the following from NAUTILUS Press release: Nautilus welcomes clarification from Manx Industrial Relations Service that arbitration is available. Nautilus International, the union for maritime professionals, has welcomed a clarification from the Manx Industrial Relations Service who stated that arbitration is available. Nautilus is currently in dispute with Isle of Man Steam Packet Company after they threatened Nautilus members with fire and rehire if they did not accept fundamental changes to their employment conditions. After two years of negotiations reaching an impasse, Nautilus requested Steam Packet Company to engage in independent arbitration as per the agreement between Nautilus and the company. Steam Packet refused this request on the basis that there was no available arbitration on the Isle of Man. Nautilus senior national organiser Garry Elliot said: “This is a welcome clarification from the Manx Industrial Relations Service who have said an independent arbitrator can be arranged. “This should end any ambiguity on whether arbitration is available to Steam Packet Company to resolve this dispute. “Nautilus is ready to enter arbitration to bring this dispute to an end and avoid any disruption through potential industrial action. “We hope Steam Packet Company will reassess their previous refusal and agree to engage in this reasonable process with an independent arbitrator.” ENDS Let’s hope the SPCO enter into arbitration. 1 Quote Link to comment Share on other sites More sharing options...
Mercenary Posted October 19, 2023 Share Posted October 19, 2023 22 minutes ago, The Listening Ear said: Let’s hope the SPCO enter into arbitration. For a coin toss on whether you can proceed with the business model you've planned for (including in the specifying of your £80m brand new asset) or not? I did note in SPCo's statements they said another key driver for live onboard is the ability to undertake day trips to Liverpool with Manxman (in addition to operational flexibility around adverse weather). With Manannan approaching its later years reneging on this could have severe impacts on services later down the road. 1 Quote Link to comment Share on other sites More sharing options...
The Listening Ear Posted December 21, 2023 Author Share Posted December 21, 2023 Well tomorrow is D-Day for the crew, accept the terms or be fired. What a lovely choice to have to make 3 days before Xmas. I hope Dr. Bunsen Honeydew is really proud of himself. 1 Quote Link to comment Share on other sites More sharing options...
A fool and his money..... Posted December 21, 2023 Share Posted December 21, 2023 2 minutes ago, The Listening Ear said: Well tomorrow is D-Day for the crew, accept the terms or be fired. What a lovely choice to have to make 3 days before Xmas. Exactly that. What kind of an employer tries to force major changes to their employees terms and conditions with the threat of fire and rehire 3 days before Christmas. A shit one. 2 1 Quote Link to comment Share on other sites More sharing options...
The Listening Ear Posted December 21, 2023 Author Share Posted December 21, 2023 5 minutes ago, A fool and his money..... said: Exactly that. What kind of an employer tries to force major changes to their employees terms and conditions with the threat of fire and rehire 3 days before Christmas. A shit one. 100% 1 1 Quote Link to comment Share on other sites More sharing options...
Bunson Hooneydew Posted December 21, 2023 Share Posted December 21, 2023 (edited) 12 minutes ago, The Listening Ear said: Well tomorrow is D-Day for the crew, accept the terms or be fired. What a lovely choice to have to make 3 days before Xmas. I hope Dr. Bunsen Honeydew is really proud of himself. I am not the one you are referring to, however Scrooge has nothing on this guy. At least when P&O did their ‘fire and rehire’ they offered redundancy. This is their Xmas gift of a simple fire. Such lovely a lovey gift from Mr Thompson at this time of year. Edited December 21, 2023 by Bunson Hooneydew Quote Link to comment Share on other sites More sharing options...
newaccount Posted December 21, 2023 Share Posted December 21, 2023 11 minutes ago, A fool and his money..... said: Exactly that. What kind of an employer tries to force major changes to their employees terms and conditions with the threat of fire and rehire 3 days before Christmas. A shit one. Let's see if Brian Thomson ends up in a Simon Thompson situation 1 Quote Link to comment Share on other sites More sharing options...
newaccount Posted December 21, 2023 Share Posted December 21, 2023 On 9/26/2023 at 8:55 PM, Mercenary said: Lead to a departure of a certain operations director that @Roger Mexico recently maligned? Taha Quote Link to comment Share on other sites More sharing options...
Bunson Hooneydew Posted December 21, 2023 Share Posted December 21, 2023 17 minutes ago, A fool and his money..... said: Exactly that. What kind of an employer tries to force major changes to their employees terms and conditions with the threat of fire and rehire 3 days before Christmas. A shit one. Tis the season to be ‘jolly’ Quote Link to comment Share on other sites More sharing options...
Silk Worm Posted December 21, 2023 Share Posted December 21, 2023 8 minutes ago, newaccount said: Taha One of the best Captains and director that SPC experienced. Such a shame that he left as he did not agree with the current situation. 1 Quote Link to comment Share on other sites More sharing options...
Silk Worm Posted December 21, 2023 Share Posted December 21, 2023 11 minutes ago, Bunson Hooneydew said: Tis the season to be ‘jolly’ Fal al al laaaa to get sacked…. Quote Link to comment Share on other sites More sharing options...
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