Cactusjack,
I'm a VBA shareholder. You won't see the prices of yesteryear as you called it because mate, they gave all the Toll shares away to punters like me at a nominal value of 50cents (and I bought more at 20cents) so the price between the float and the Toll exit means nothing except to people who don't know anything about the stocks history.
If you dig around you'll find the analyst briefings have Borghetti acknowledging Godfrey's achievements and pointing out that the fact that the company did so well out of the flying business compared to Qantas was the strength of the domestic business which earned far more than QF per plane by raking in $127 million in the whole financial year. Most of the turnaround from a loss of $160 million to a PBT of $34 million happened before Borghetti got the gig or even sat in the chair. I think he is doing the right thing fixing the international routes and going for a bigger domestic jet too and the notes my financial advisor sent include confirmation of an international role for the Airbuses as well as Perth within two years. I reckon Borghetti is a good choice to follow up a terrific success by the Godfrey team who weren't like Jetstar getting gifted a billion in Qantas jets and subsidies but did it themselves from the ground up, mistakes and all.