Patrick has cotrol of VB
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Chris Corrigan is certainly no fool.
He has made it quite clear that he is less than impressed with the way in which Virgin Blue has been run.
He rightly has realised that the low cost model offered by VB just after the collapse of Ansett is simply not cutting it in this market of added competition and rising fuel prices.
He also wants to see a return to the duopoly of sorts that AN and QF had.
Slashing each others throats has benefited nobody.
Those that whinge about losing their $29 fares are the first to whine when services are cut back or cost cutting is a reality after lack of profits.
Not to mention when money is saved in things like engineering and basic services.
Expect to see a dedicated and proper business class established on VB.
The "Blue room" I think its called will be for business class pax and members only, rather than the "bucket and thong brigade" that pays their $5 or whatever it is.
Corrigan is an outstanding business person that has invested in order to see a return and not the squadering that Branson and Godfrey offered with $1 fares.
Corrigan has a long memory, especially after Branson upped Corrigans offer of $1.90 per share to something like $2.20 and insisted that the shares were valued at $2.40 - $2.90 !!!!
I love the way that Branson never revealed the source of what was accurately described by one financial analyst as "the most ridiculous undisclosed valuation I have had to fortune to witness".
Branson and Godfrey play games - Corrigan means business.
He has made it quite clear that he is less than impressed with the way in which Virgin Blue has been run.
He rightly has realised that the low cost model offered by VB just after the collapse of Ansett is simply not cutting it in this market of added competition and rising fuel prices.
He also wants to see a return to the duopoly of sorts that AN and QF had.
Slashing each others throats has benefited nobody.
Those that whinge about losing their $29 fares are the first to whine when services are cut back or cost cutting is a reality after lack of profits.
Not to mention when money is saved in things like engineering and basic services.
Expect to see a dedicated and proper business class established on VB.
The "Blue room" I think its called will be for business class pax and members only, rather than the "bucket and thong brigade" that pays their $5 or whatever it is.
Corrigan is an outstanding business person that has invested in order to see a return and not the squadering that Branson and Godfrey offered with $1 fares.
Corrigan has a long memory, especially after Branson upped Corrigans offer of $1.90 per share to something like $2.20 and insisted that the shares were valued at $2.40 - $2.90 !!!!
I love the way that Branson never revealed the source of what was accurately described by one financial analyst as "the most ridiculous undisclosed valuation I have had to fortune to witness".
Branson and Godfrey play games - Corrigan means business.
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Pure Risk mmm Indeed.
Skilled : Meaning to be properly trained or experienced, FA's, bag chuckers and the like are certainly this.
Professional : Belonging to a profession, maintaining proper standard, Pilots and engineers should certainly be this.
You stated that FA's, Bagchuckers and the like are unskilled. Sir you clearly got upset with my question regarding what you meant and even tried to say that I did not understand. You clearly do not understand the English language and as Buster said you are very unappreciative of the work they do. Fine their are some bad eggs, just like with Pilots, Engineers or Lawers. However, their work is vital to our livelihood.
Congratulations on using the Patricks takeover discussion to show your inability to work and respect people in the industry.
NOW DO YOU UNDERSTAND
Skilled : Meaning to be properly trained or experienced, FA's, bag chuckers and the like are certainly this.
Professional : Belonging to a profession, maintaining proper standard, Pilots and engineers should certainly be this.
You stated that FA's, Bagchuckers and the like are unskilled. Sir you clearly got upset with my question regarding what you meant and even tried to say that I did not understand. You clearly do not understand the English language and as Buster said you are very unappreciative of the work they do. Fine their are some bad eggs, just like with Pilots, Engineers or Lawers. However, their work is vital to our livelihood.
Congratulations on using the Patricks takeover discussion to show your inability to work and respect people in the industry.
NOW DO YOU UNDERSTAND
I love this quote...
No **** sherlock!
No wonder he didn't want to be named!
I wonder what the other options were - " we can make a hat..." (to steal a quote from the movie Flying High)
The interesting thing is that Corrigan has had effective control of the board since the company floated - and as such had been involved in every board decision made since - to suggest that the direction of the company is against his wishes is possibly a little disingenious.
That being said I think that if he steps up and starts taking day to day control of the operation it will be a good thing.
The old chinese proverb is appropriate here - we live in interesting times!
"Pacific Blue's future is either you keep doing it, or shut it down," said one analyst who did not want to be named.
No wonder he didn't want to be named!
I wonder what the other options were - " we can make a hat..." (to steal a quote from the movie Flying High)
The interesting thing is that Corrigan has had effective control of the board since the company floated - and as such had been involved in every board decision made since - to suggest that the direction of the company is against his wishes is possibly a little disingenious.
That being said I think that if he steps up and starts taking day to day control of the operation it will be a good thing.
The old chinese proverb is appropriate here - we live in interesting times!
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You don't have to be Einstein to realise that WHEN Jetstar enter the Tasman and the Pacific, there will be an all in war between three low cost carriers in SJ, PB and JQ. It's not sustainable as it currently stands, all airlines are doing it hard on the Tasman. Corrigan is better off getting Pacific Blue out of the Tasman and consolidating the business on Australian shores.
Dehavillanddriver, I think you will find that Corrigan couldn't change the direction of the company due to the model that had been set in place, a sort of go with the flow situation. If he gives Godfrey the heave hoe, then he has the ways and means to start that consolidation process in motion.
HGW, lets just hope that in all this consolidation and rewarding of employees that do good work and work hard, that we don't end up with another Valuejet....
Dehavillanddriver, I think you will find that Corrigan couldn't change the direction of the company due to the model that had been set in place, a sort of go with the flow situation. If he gives Godfrey the heave hoe, then he has the ways and means to start that consolidation process in motion.
HGW, lets just hope that in all this consolidation and rewarding of employees that do good work and work hard, that we don't end up with another Valuejet....
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Out of pure curiosity... what is this topic really about?
Corrigan has taken control of Virgin.... who didn't see that comming? The same people that didn't see Packer setting himself up to take control of Crown Casino?
Virgin has replaced Ansett... bring on the duopoly! It's all wrong, but that's life. Just keep an eye on SQ
Infighting solves nothing.
Corrigan has taken control of Virgin.... who didn't see that comming? The same people that didn't see Packer setting himself up to take control of Crown Casino?
Virgin has replaced Ansett... bring on the duopoly! It's all wrong, but that's life. Just keep an eye on SQ
Infighting solves nothing.
126.7
Love your work.
You are missing the point about "skilled". A flight attendant or baggage handler can turn up on day one having never done the job before and be competent at it in only a few weeks.
A pilot or engineer cannot. These professions bring a skill set to their job that is a pre-requisite.
This in no way devalues the job of F/A or baggage handler.
You clearly do not understand the English language
Fine their are some bad eggs
You are missing the point about "skilled". A flight attendant or baggage handler can turn up on day one having never done the job before and be competent at it in only a few weeks.
A pilot or engineer cannot. These professions bring a skill set to their job that is a pre-requisite.
This in no way devalues the job of F/A or baggage handler.
Evertonian
4 hours for FA training actually Icarus, however, your point is correct.
The skill set is a matter of training, apptitude & opporunity. Denigrating FA's & "bag chuckers" because they don't have the required skill, do not have the desire to acquire the required skill nor the resources to fund the gaining of those skills needed to fly is unnecessary.
Pure risk is obviously upset by the fact that FA's & "bag chuckers" have a negotiating skill that pilots do not.
The skill set is a matter of training, apptitude & opporunity. Denigrating FA's & "bag chuckers" because they don't have the required skill, do not have the desire to acquire the required skill nor the resources to fund the gaining of those skills needed to fly is unnecessary.
Pure risk is obviously upset by the fact that FA's & "bag chuckers" have a negotiating skill that pilots do not.
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just thinking today after handing my latest fuel cheque to Shell, (now for a record $1200 for the last 5 day period for diesel) i was thinking about Patrick corp and VB.
Everyone knows QF, VB and others will hike up the fuel surcharge in wake of the new record crude prices, dispite still being hedged at $US38 per barrel.
I was wondering if Patrick corp also has their fuel/oil hedged at a price much lower than current open market prices, for their truck and locomotive fleets? and if so, will this carry across to the VB part of the business? allowing VB to purchase JetA1 at the same price as Diesel oil. ??
Everyone knows QF, VB and others will hike up the fuel surcharge in wake of the new record crude prices, dispite still being hedged at $US38 per barrel.
I was wondering if Patrick corp also has their fuel/oil hedged at a price much lower than current open market prices, for their truck and locomotive fleets? and if so, will this carry across to the VB part of the business? allowing VB to purchase JetA1 at the same price as Diesel oil. ??
Bottums Up
Ultralights
I have a vague recollection, in the early days of the current surge in oil prices, of a press report suggesting that VB had little or no fuel hedging.
I have a vague recollection, in the early days of the current surge in oil prices, of a press report suggesting that VB had little or no fuel hedging.
Nunc est bibendum
Was there again yesterday Clarrie. This from news.com.au
That said, I don't know what value QF is hedged at! The other issue is that I'm not sure that QF hedges ALL of it's fuel. It has a bit of a sliding scale and the contracts run out at all different times so some may be at $38, some may be at $45, etc, etc.
Unlike Qantas, Virgin Blue has not put hedging contracts in place to protect it against increases in fuel costs for 2005-06.
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Virgin Blue floundering about (AFR) - Conventional wisdom last May said Geoff Dixon was risking the Qantas (QAN-HOLD) franchise by starting Jetstar, but as of yesterday all the internal corporate confusion was centred in the Brisbane headquarters of fellow duopolist Virgin Blue (VBA-ADD). The company's major shareholders are at war. The company is
undergoing a hostile takeover from within. There is an internal fight over strategy; question marks over who is running the shop; basic mismanagement to leave a fuel bill unhedged; and a fundamental question of just what sort of airline it wants to be. The latter issue was the one supposed to dog Qantas, with conventional wisdom saying discount carriers and mainstream
carriers can't lie in the same bed. Dixon has so far proved the naysayers wrong by turning potential adversity into a big plus for Qantas by using the low-cost carrier as leverage to lower costs across the board in what must rank as one of the most successful management strategies in recent corporate Australian history. Instead of the internal culture clash
predicted at Qantas, it is Virgin that doesn't seem to know whether it wants to be a business airline, a discount carrier or both. The only thing we know for sure is Chris Corrigan from Patrick is in control and, for his own sake, the sooner he starts to pull the levers the better it will be for his shareholders. Oil price rises simply don't explain the full extent of the losses indicated by yet another profit warning, this time by 15 per cent to $135 million. External problems have maximum effect when the
internal machine isn't running well and that is what is happening at Virgin.
Argh..they be storm clouds gathering...
undergoing a hostile takeover from within. There is an internal fight over strategy; question marks over who is running the shop; basic mismanagement to leave a fuel bill unhedged; and a fundamental question of just what sort of airline it wants to be. The latter issue was the one supposed to dog Qantas, with conventional wisdom saying discount carriers and mainstream
carriers can't lie in the same bed. Dixon has so far proved the naysayers wrong by turning potential adversity into a big plus for Qantas by using the low-cost carrier as leverage to lower costs across the board in what must rank as one of the most successful management strategies in recent corporate Australian history. Instead of the internal culture clash
predicted at Qantas, it is Virgin that doesn't seem to know whether it wants to be a business airline, a discount carrier or both. The only thing we know for sure is Chris Corrigan from Patrick is in control and, for his own sake, the sooner he starts to pull the levers the better it will be for his shareholders. Oil price rises simply don't explain the full extent of the losses indicated by yet another profit warning, this time by 15 per cent to $135 million. External problems have maximum effect when the
internal machine isn't running well and that is what is happening at Virgin.
Argh..they be storm clouds gathering...
Evertonian
There is an internal fight over strategy; question marks over who is running the shop; basic mismanagement to leave a fuel bill unhedged; and a fundamental question of just what sort of airline it wants to be.
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Check out the thread about VB dragging down Patrick Corp.
Says it all really.
Agree that things can only improve with Corrigan at the helm and Godfrey replaced with an appropriate manager.
Says it all really.
Agree that things can only improve with Corrigan at the helm and Godfrey replaced with an appropriate manager.
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my question was is Patrick corp hedged against higher oil prices, NOT Virgin Blue....
and if patrick corp rail and freight company is hedged, (and im sure they would be) will the hedged contracts transfer to the Purchase of Jet A1 for the Virgin aircraft. ???
and if patrick corp rail and freight company is hedged, (and im sure they would be) will the hedged contracts transfer to the Purchase of Jet A1 for the Virgin aircraft. ???
how many times have I heard that? 
