Does this whole thing seem something familiar to the early 80's when 2 "equity partners" bought Ansett?
As YesTam aptly describes, where did the "hollow logs stuffed with cash" disappear to?
So why did TNT / NEWS buy Ansett -
CASHFLOW!!
Think back to how large those two Corporations were when they bought Ansett and how they were able to grow from then on by borrowing huge ammounts to finance their respective global expansion; based on what? cashflow from Ansett.
And how much did they re-invest in the "cashcow" -
And what did they do when it had served it's purpose?
Yes, they brought in some "airline management guru" (from Hong Kong if I remember rightly) who proceeded to flog off assets such that Ansett miraculously made a huge 6 months profit.
It was then sold to "the incompetants" ---- the rest is history !!!!!!!!!!!
Role on...