A bit concerned about the Occupy people going to the agm
Yeah, I see your point but, it appears the whole unions v Qantas struggle has spilled over into the public domain. Joyce's 71% pay rise is a big issue, created by Qantas management itself.
I don't know who is providing strategic advice to Joyce and the Qantas board but
announcing a $2 million pay rise for the chief executive, to $5 million a year, within a month of announcing 1000 staff layoffs was a corporate brain explosion. It's not the only misstep. my bold pretty much sums up the feeling out there.
I believe there is huge support for the Qantas staff and LC, AJ and Co know it. I also believe the mainstream media will follow events closely on Friday. The only thing the Q management have in their favour, they scheduled the AGM on a Friday, generally a low interest day for business stories unless something big happens.... like the
$2 million pay rise for the chief executive, gets voted down.
It's very possible the two major Q investors may be feeling the pressure as well, if they are seen as being too supportive of the board as it may damage their reputation in the next financial year.. for example, Qantas losing market share to Virgin and/or a profits downgrade warning in the next couple of months.....
JP Morgan for example would put themselves between a rock and a hard place and possibly the person/s who manage the Q investment portfolio losing his/her job/s.