New Organ Grinder

[Freehills]

Latest rumour in Kitty City

JRS to Chairman
Ivan Chu to CEO

[treboryelk]

.....fact!

[MrClaus]

Its started...

Next event Air China increases its shareholding of CX. First to 49%, then majority ownership. Can't do that with a gweilo in charge, but young Ivan will be very acceptable.

[Farman Biplane]

COO candidates, NR?

[Long Dong Silver]

reincarnation of Sxxxxx Cxxx?

[Kitsune]

New organ grinder... same ol' bunch o' monkeys...:cool:

[ASH1111]

Bingo!

Read the tea leaves gents! Air China is our future. Don't think for a second that Swire won't sell for a nice profit (not faulting them). Several people quite astute in the business arena have said we are making corporate and strategic moves that look to be a sale prep.

And you thought you disliked working for the Swire Brits...

[BillytheKid]

Considering the Air China venture is currently dragging down our profits, it doesn't bode well for us to be taken over by them. Too bad if it happens.

[LongTimeInCX]

.....and our assembled minds still wonder why the reticence for the current string pullers to sign 25yr housing, whittle away at who still has housing, prevaricate and delay on any pay talks, and constantly push to slash and burn T&C's at almost any cost - including putting crew with sweet FA experience in seats, a policy which will take a hull loss due to such inexperience to reverse such a trend - and it's all, and only, to make the sale price look attractive to our future string pullers up north.
It has been a long time in the making, our current senior management play a long game, are experts in making money. I expect you all to be soon treated like nothing better than worker bees.

So, unless as a collective group, a spine is developed, expect more of the same and then some.

[MrClaus]

I agree Dan Buster, that was all the talk when PC became CEO.

But there are a few developments that make me feel this time is different.

Firstly, the airline has divested profitable assets in the last few years. HAECO being the prime example.

Dig into the annual report and you will also see that CX has loaded up on medium term unsecured bank debt. Unusual for a company that likes to maintain a cash rich position. Not unusual if you own that company and you want to spin it off. That is also a classic hedge fund tactic before selling a firm at a profit.

The final piece, and this is more of a guess, but I think the Air China cargo deal was never about making money. It was basically an experiment in seeing how the two organisations would work together.

Final piece of the puzzle is to watch the share price.......

[ASH1111]

Our profits on a few BCF's have absolutely nothing to do with a potential buyout.

If I were a betting man, I see it within 3 years time.

:uhoh:

[Soul planet]

Everything will be more Chinalized straight from their hearts! Contract terms falling backwards, quality of cabin crew seriously dropping or not worse, hotels motelizing.... Bring in on we are ready for more

[Lowkoon]

That will be interesting, I look forward to seeing the back pedaling when it comes to joining lists. "Straight to the bottom" catch cry will disappear rather quickly I would wager... Be careful what you wish for gents... Who do you think will be in greater favor with Beijing management, KA or CX?

[iceman50]

Lowkoon

Remind us again who "owns" KA!

[Lowkoon]

Will that same arguement ring true when CX is OWNED by Air China? To my knowledge there is no agreement to say we are on your list, the gloves will be off, but I'm sure your chiefs will still hold the mantra "Bottom of the list at all costs!" Even when it is about to apply to them? We will see some fancy foot work then! Suddenly Y integration or some such beast will get a favorable hearing dont you think?

In the words of some very short sighted git on this topic, "What part of buyout dont you understand?" It appears we understand it a fair bit better than the "bottom at all cost" tribe.

Interesting times ahead!

Yes Iceman, you own us, but you certainly don't have any say in how we position ourselves industrially when it comes to negotiation with the air china pilot body. Ask your mob, how are their behind the scenes "fire side chats going?"

[Soul planet]

Cathay Names Ivan Chu Chief Executive, Slosar to Become Chairman - Bloomberg (http://www.bloomberg.com/news/2013-08-16/cathay-names-chu-chief-executive-as-slosar-to-become-chairman.html)

smallest profit in at least 15 years.... Cathay put on a laser show and hired Lady Gaga, Tina Turner and Marilyn Monroe lookalikes :} :ok: for the December 2010 unveiling of its HK$1 billion ($129 million) upgrade of business-class interiors on its Boeing 777s and Airbus SAS A330s. The carrier said Jan. 18 it had 47 aircraft equipped with the new seats and the upgrade will be completed by March.