QF BLOWS $200 MILLION ON Eq

[numbskull]

"Qantas has pulled the plug on an ambitious $200 million e-business outsourcing manoeuvre, axing a contract with IBM six years before the arrangement was due to expire." The Financial Review 31/01/2006

I found a report in the Australian Financial Review 31 Jan 06. I can't get the full story here but it is available on the QF intranet or from AFR.

Basically the Eq system is being axed and $200 million dollars has been wasted trying to get it to work.

Fiona Balfour who is the Chief Information Officer will be leaving in March. Probably because of her abject failure to get QF's computer systems into the 20th century.

We struggle to be able to access maintenance manuals and print them out on a daily basis yet her remuneration as stated in the 2005 annual report is listed as 107643 QAN shares and entitlements to a further 210000 shares under Qantas Long Term Executive Incentive Plan as well as remuneration of $1,220,746 for 2005 alone(p57 of 2005 annual report). Who knows what her seperation package will be!!!!!

It is utterly disgraceful that QF can be so penny pinching(sacking someone for stealing a packet of biscuits) and one of the most senior executives can leave QF with millions in her pocket after being such an abject failure. They are willing to sack 3000 maintenance workers for a saving of far less than they have just wasted here.

Surely Geoff Dixon and the board must take some responsibility. It will be hard to blame this on the unions!!! Edit: We know how emotive such topics can be, however it's no excuse for obscenities, masked or otherwise. You've been warned Woomera (Eastern States)