wirgen & co;
for goodness sake all the "brett" stuff is nothing more than a CEO [and Board] who is way out on a limb and knows that Toll would dump the shares in a blink if they can recoup some of the spend.
Like any CEO, he desperately needs to talk up
VB's financial performance but please let's not be so myopic so as to think that dropping $100m in costs over 4 months is not at the expense of the front line staff and demonstrates true financial performance.
Cabin Crew are generally treated like wayward teenage children, fellow drivers are beng driven hard and things are tight all round. I had a beer the other night with a very senior
VB Manager who was lamenting the pressure - especially as forced leave across the board puts stress on those still at work. - (balance sheet B.S. - after all it is June)
Be loyal to your employer, but please don't proclaim the "brett" factor as the saviour - reality is Virgin is a great LCC but under the direction of this bloke and a managment pyramid of 'yes men' flunkies,
VB has badly lost it's way. It has low net asset value, and operates under a highly geared 70's business model with all the contingent risk that such brings. For those like some contracted accounting firms that declare these facts a good thing - remember that it all means that
VB is totally cash flow dependant and that the oponents shield can also quickly be a sword.
As a business it needs to get back to core, forget the "new world carrier" BS, dump the Branson garbage, regain its ETOPS certification and focus on being the great LCC it once was.
The piece which will TX on Sunday tomorrow is a soft run and has more to do with RG justifying an earlier position..... It will be more like a Kerry Anne interview than the 4 corners it should be.
Toll [desperately] needs someone to show serious interest - in the hope gettting another to raise the bid enough to save face -
VB is a great business and deserves the opportunity of re-carving a niche in the skies
it just needs to lose the 'brett' 'richard' etc mythology and focus on the basics.
AT