Well its in your hands now, those who have worked and gave their all for such a great company, can only stand by and watch and hope that QF survives, for Australia and QF are joined at the hip, one without the other is unthinkable.
I believe the Board are counting on that.
and
Like Bonds (offshored production, 'cause Aussie process workers are entitled to all that annoying costly stuff like OH&S and superannuation)
Yeah Worrals I agree, and Qantas did have Margaret Jackson until the failed APA bid... (Now over at Bonds/Pacific Brands)
Qantas bid crash lands at last minute - Business - Business - theage.com.au
In its statement last night, APA said it "wishes Qantas every success for the future".
The reverberations of the shock result will be felt at Qantas headquarters where the positions of chairman Margaret Jackson, chief executive Geoff Dixon and the entire Qantas board are now in doubt.
Mrs Jackson and Mr Dixon both supported the deal when it was launched in December and repeatedly urged shareholders to accept the offer.
In its statement, APA paid tribute to Mrs Jackson and the Qantas board.
"Qantas is an outstanding organisation with a first rate management team and board," it said. "APA understands that the bid process has been challenging for many of those involved and thanks Qantas management, board and employees for their professionalism during the process."
Qantas shareholders had until 7pm last night to accept APA's $5.45-a-share offer.
The consortium spent yesterday making desperate phone calls to get acceptances over the crucial 50 per cent level.
Jetstar chief executive Alan Joyce was one of the latecomers, selling his 67,000 Qantas shares but it was not enough.
Yesterday morning the Macquarie-led consortium had 36 per cent of acceptances, up 3 per cent on its last update.
However hedge funds and institutional investors failed to come to the party.
Champers or valium: the Margaret Jackson dilemma | Crikey
The directors of a company are appointed and very generously paid (on an hourly basis) to act in the interests of the company (which has generally been held to mean the interests of the shareholders).
However, during their enthusiastic endorsement of the private equity bid, Jackson, and her fellow directors, didn’t appear to be overly concerned about Qantas shareholders.
As The
SMH’s leading business writer, Kate Askew, noted:
…from the moment the image of a beaming Jackson locked in an embrace with the key proponents of the private equity grab for Qantas was flashed across television screens and newspapers last December, the same question was asked: in whose interest was the chairman of Qantas acting?
The cast, crew and the plot appear to be pretty much the same, nothing has changed much since 2007...except the share price.
