Natural Monopoly

Ramses II

The usual excuse that is reeled out every time anyone brings up the idea of privatisation is the huge £10 billion pension deficit which the company has run up in the last 20 years or so. But no private sector company will take this on. So in order to create an incentive to the private sector, the government will have to agree to fund it. Whether the Royal Mail is in the public sector or the private sector, the pensions deficit will remain a public liability.

From the LRB blog.

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Best Management Talent

The Royal Mail's Retiring Chief Executive

The Royal Mail’s Annual Report was published on 3 June, containing details of its executive pay for the previous year. According to the figures, Adam Crozier, the retiring chief executive, received more than £2.4m in the year 2009-10…

From the London Review of Books

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