So how can the unions fight? In all honestly I believe this is a no win situation the way it is being fought. I have said it all along and will say it again - BUY THE COMPANY.
Qantas has about 33,000 employees. Market Cap ($M):3,364 Equiv. Shares (M): 2,265. Share price Average $1.50.
Through the union, set up a super fund which invests in qantas, and redirect other super funds into Qantas shares. The entire value of Qantas equates to $101,000 per employee. I know many employees that would be capable of buying that level of shares.
With redirected superannuation I calculate that approximately $30,000 per employee and we would have total control of the company.
AS for SQ and EK. Different animals. SQ competes on service. EK competes because (a) it pays the majority of its staff absolutely peanuts in Dubai Pesos under some of the worst non-union protection (b) EK buys a lot of its fuel and a substantially lower price (c) EK has low interest Government funding/loans (d) IT pays no tax (including income tax/GST/Carbon Tax/payroll tax). Reality is EK is a glossed up LCC. Sat in a EK 777 with 10 across seating?
Qantas will NEVER be able to compete with Emirates. This is not QF's fault.
Qantas must compete by offering a better route network and yes maybe joint ventures are the way to go WITHOUT killing off Australian jobs
Unless everybody buys some Qantas shares (AND TAKES CONTROL) this rott at the top will continue to fester. Each and every Qantas employee could use margin loans to buy $30,000 of QAN shares. This would mean a cash investment of $9000 per head, on average. (Loans available at 70% of share price) With redirection of super funds into QAN shares we would take control
Wake up. I have been preaching this for ages and I wonder if Qantas employees really believe in Qantas and are as passionate as they pretend.
I am advocating investment, not donation. This is a tax effective, deductible investment that will save Qantas and ultimately be a profit making excercise
I concur.
QFA staff & shareholders need to either act or alternatively accept their fate.
You have an arguably poisonous management program, that is hell bent on undertaking a structure that the majority of you are unlikely to survive. The current protected industrial action is achieving little, (unless the intent is to reduce the buyout price, in which case it is ineffective to date).
The disconnect between reality (ie Jetstar Pacific) and rhetoric indicates that the management is failing to learn any lesson from their performance. The additional disgraceful practice of complaining about the long haul program profitability without acknowledging the effects of the off book transactions to Jetstar's advantage, or the penalties for criminal behaviour by management personnel on multiple occasions is evidence that the underlying intent to transfer the whole operation in due course to the cheap and nasty orange program is like catnip to the poison dwarf.
QFA needs to be able to compete with the global market. The incestuous relationship of Jetstar, and the irrational group think position of QF corporate management that considers that a despised, poor quality product which is not able to show profitability in other markets is the way of the future needs to be removed from the equation.
If you work for QFA or own shares in the company, you need to act to protect your program from the existing management. Striking is not effective. Either buyout or accept the alternative. If you do not wish to act to buy the company, then please do stop complaining, the outcome is within your control and the ultimate demise of QF will be a result of inaction.
(As oft misquoted) from Burke:
"Perpetrators, collaborators, bystanders, victims: we can be clear about three of these categories. The bystander, however, is the fulcrum. If there are enough notable exceptions, then protest reaches a critical mass. We don’t usually think of history as being shaped by silence, but, as English philosopher Edmund Burke said, ‘The only thing necessary for the triumph [of evil] is for good men to do nothing.’".
FDR