In 1994, Shareholders of Continental Airlines held their shares at $3.25.
They had been in Chapter 11 twice in the previous decade.
Gordon Bethune the then new CEO stated he figured that the share price was at rock bottom and these share holders weren't selling because they were invested and just hoping they would survive, the loss on paper was already there so why realise it?
The fact that many shareholders have held their QF shares for no reward and to see their share value trashed by the same people that are profiteering from their position by way of pay/bonus/package (call it/hide it however you please Gentlemen) shows that these share holders have a vested interest in the company. To deny their voice to be heard smacks of acts of corporate psychopaths.
A voice of no confidence is fair and warranted.
In the last ten years QF shareholders have seen the Management team lead QANTAS to a trashing of it's employees publicly, trashing of the share price, incorrect fleet investment, Take over bid debacle, Massive executive payouts and parachutes, no dividends and now Job losses on the Australian front coupled with a massive failure in employee morale. All amidst massive ongoing profits.
This must surely be an awesome case study of incompetence at an executive level that is not yet rivalled in Australia and as far as I can research the Pan-Asian area (boom-tish)
The QANTAS board and the CEO of QANTAS, Jetstar and JANZ must go. Who replaces, I don't know, but this is far from the case of better the devil you know. Geoff Dixon was the polyp, this is his cancer. Not the employees as they think. (And unfortunately some employees also think, that have allowed the age old divide and conquer strategy from executive management to steer their thoughts)
Unity in the QANTAS group is the only answer.