My guess would be that you are probably correct,
KaptinZZ. Ansett was "window dressed" for sale to an over eager Air New Zealand. IMHO, SQ scratched the surface sufficiently deeply enough to see what was underneath the gloss [and the miraculous turnaround in Ansett's performance], and to walk away - as much as many ex-An employees insist that they were blocked. Anyway that's off the track as far as this thread is concerned - except for your point that Mr Ed brabbed HIS bonus and
R A N.
So why SHOULD senior executives be paid these
additional, HUGEbonu$e$ for doing the job for which they were hired?
The salaries and benefits alone are way beyond any REALISTIC figures, and surely there are MANY other qualified individuals who are able to achieve the same results, without the need to double dip.
To repeat myself, a
STOP HAS to be made to these ANNUAL bonuses, but preferably a COMPLETE
STOP to bonuses altogether!
The sheer $ize of them in such a short term ENCOURAGES management decisions designed to "get in, grab it and run" leaving the company to crumble AFTER their departure.
STOP the short term bonuses.
Average the company's performance over an 8 - 10 year period, and pay the bonus THEN.
But better yet,
STOP the bonus system altogether.
They ARE only doing what's EXPECTED of them on the $alary paid!