Her MAJ is gone ... long live the staff!
Thread Starter
Join Date: Aug 2006
Location: Brisbane
Posts: 24
Likes: 0
Received 0 Likes
on
0 Posts
Her MAJ is gone ... long live the staff!
She has "retired" as Queen of the Kingdon of QF
Long live the staff! Welll done all ... you deserve a decent management team now!!
Long live the staff! Welll done all ... you deserve a decent management team now!!
Thread Starter
Join Date: Aug 2006
Location: Brisbane
Posts: 24
Likes: 0
Received 0 Likes
on
0 Posts
One for an "old troop", long forgotten ....
Left QF some time back and just keeping an eye on the team ....
A total disgrace NEARLY accomplished against ALL .... Australians ... minus 32 managers ....
Left QF some time back and just keeping an eye on the team ....
A total disgrace NEARLY accomplished against ALL .... Australians ... minus 32 managers ....
Join Date: Oct 2006
Location: Perth
Posts: 503
Likes: 0
Received 0 Likes
on
0 Posts
Good Riddance to you too !!!!!
HOW DOES IT FEEL TO BE PUNTED BY THE "MENTALS"?
Don't give us the ..."I've retired"...... crap either.
Word of advice for your next post ( Bank probably)
Try and spend some time with the PEOPLE who actually work at the joint.
Not trendoid consultants like -Neil Perry, Akira, Collette Dinnnigan , Marc Newsom. These Clowns are NOT Qantas staff !!!!
I've seen you sprint from your Limo at the Terminal-to the First Class Check in to the First Class lounge to your 1-A without a cursory glance at the PEOPLE...............you dope !
..HASTA LA VISTA..............BABY !
HOW DOES IT FEEL TO BE PUNTED BY THE "MENTALS"?
Don't give us the ..."I've retired"...... crap either.
Word of advice for your next post ( Bank probably)
Try and spend some time with the PEOPLE who actually work at the joint.
Not trendoid consultants like -Neil Perry, Akira, Collette Dinnnigan , Marc Newsom. These Clowns are NOT Qantas staff !!!!
I've seen you sprint from your Limo at the Terminal-to the First Class Check in to the First Class lounge to your 1-A without a cursory glance at the PEOPLE...............you dope !
..HASTA LA VISTA..............BABY !
Qantas backlash signals end of the line for Jackson
Scott Rochfort May 18, 2007
Margaret Jackson ... embraced the bid too closely.
QANTAS chairman Margaret Jackson will not stand for re-election at the next annual meeting following a backlash from major shareholders this week.
An announcement on her future is expected to be made this morning after a marathon board meeting was adjourned late last night.
Ms Jackson has stubbornly refused to resign despite her controversial role in the bungled takeover by Macquarie Bank. But given the vocal opposition from big institutional shareholders in the past week, there was little chance she could survive a vote when she comes up for re-election at the annual meeting later this year.
The news came as Macquarie Bank yesterday shelved its plans to buy Qantas after the Airline Partners Australia consortium officially ruled out making a second $11.1 billion bid for the airline.
This was not the first time Macquarie has looked at Qantas.
The bank is understood to have run the ruler over Qantas barely one year after the carrier was privatised by the Keating government in 1995.
At the time Qantas shares were hovering around $1.90 and the airline had a market capitalisation of around $2 billion. The bid failed to materialise when Qantas shares staged a rally in late 1996.
Macquarie prepared another bid for Qantas five years later after shares in the airline dipped from the $5.40 high they set in 1999. But again a Qantas share price spike scared off the bank and its bid partners. It is understood Kerry Packer was involved in one of the bids.
Macquarie, however, did approach the Qantas board before it concocted the recent APA bid, according to board sources.
Macquarie declined to elaborate. 'We wouldn't comment on any speculation like that," said a Macquarie spokeswoman, Lisa Jamieson. "Whatever your sources, we wouldn't talk about that in any way."
The bank declined to say whether its executive director of financial products, Peter Lucas, helped with Macquarie's first appraisal of Qantas. Before joining Macquarie in April 1996, Mr Lucas was the assistant treasurer at Qantas for four years.
The architect of the recent APA bid, the head of Macquarie's investment banking operations, Nicholas Moore, is said to have also been the brains behind the previous takeover attempts. Mr Moore has for some years had an interest in the airline industry.
A former colleague of Mr Moore, Peter Yates, worked on aircraft leasing deals at Macquarie before joining the Packer family controlled PBL as chief executive in 2001. He is now the managing director of Allco Equity Partners, which stumped up most of the cash for the APA consortium.
Under the planned APA offer, Allco Equity would have ended up with the largest shareholding in the carrier.
Qantas director and Australia's richest man James Packer joined the Qantas board in 2004 and yesterday was locked in the marathon Qantas board meeting. .
Rumours were rife during the day that Ms Jackson had announced her intention to resign but there was no official confirmation last night. One director, however, dismissed the talk as "scuttlebutt".
Qantas shares, meanwhile, fell just 3c to $5.25 yesterday despite the APA announcement. The meagre fall made a mockery of warnings by Ms Jackson and APA that the airline's share price would slump if the deal fell through.
It previously warned the shares could slump as low as $4.20.
"APA has concluded that in the current environment and circumstances a renewed offer on terms acceptable to APA would not be likely to succeed," the consortium said in a statement.
Margaret Jackson ... embraced the bid too closely.
QANTAS chairman Margaret Jackson will not stand for re-election at the next annual meeting following a backlash from major shareholders this week.
An announcement on her future is expected to be made this morning after a marathon board meeting was adjourned late last night.
Ms Jackson has stubbornly refused to resign despite her controversial role in the bungled takeover by Macquarie Bank. But given the vocal opposition from big institutional shareholders in the past week, there was little chance she could survive a vote when she comes up for re-election at the annual meeting later this year.
The news came as Macquarie Bank yesterday shelved its plans to buy Qantas after the Airline Partners Australia consortium officially ruled out making a second $11.1 billion bid for the airline.
This was not the first time Macquarie has looked at Qantas.
The bank is understood to have run the ruler over Qantas barely one year after the carrier was privatised by the Keating government in 1995.
At the time Qantas shares were hovering around $1.90 and the airline had a market capitalisation of around $2 billion. The bid failed to materialise when Qantas shares staged a rally in late 1996.
Macquarie prepared another bid for Qantas five years later after shares in the airline dipped from the $5.40 high they set in 1999. But again a Qantas share price spike scared off the bank and its bid partners. It is understood Kerry Packer was involved in one of the bids.
Macquarie, however, did approach the Qantas board before it concocted the recent APA bid, according to board sources.
Macquarie declined to elaborate. 'We wouldn't comment on any speculation like that," said a Macquarie spokeswoman, Lisa Jamieson. "Whatever your sources, we wouldn't talk about that in any way."
The bank declined to say whether its executive director of financial products, Peter Lucas, helped with Macquarie's first appraisal of Qantas. Before joining Macquarie in April 1996, Mr Lucas was the assistant treasurer at Qantas for four years.
The architect of the recent APA bid, the head of Macquarie's investment banking operations, Nicholas Moore, is said to have also been the brains behind the previous takeover attempts. Mr Moore has for some years had an interest in the airline industry.
A former colleague of Mr Moore, Peter Yates, worked on aircraft leasing deals at Macquarie before joining the Packer family controlled PBL as chief executive in 2001. He is now the managing director of Allco Equity Partners, which stumped up most of the cash for the APA consortium.
Under the planned APA offer, Allco Equity would have ended up with the largest shareholding in the carrier.
Qantas director and Australia's richest man James Packer joined the Qantas board in 2004 and yesterday was locked in the marathon Qantas board meeting. .
Rumours were rife during the day that Ms Jackson had announced her intention to resign but there was no official confirmation last night. One director, however, dismissed the talk as "scuttlebutt".
Qantas shares, meanwhile, fell just 3c to $5.25 yesterday despite the APA announcement. The meagre fall made a mockery of warnings by Ms Jackson and APA that the airline's share price would slump if the deal fell through.
It previously warned the shares could slump as low as $4.20.
"APA has concluded that in the current environment and circumstances a renewed offer on terms acceptable to APA would not be likely to succeed," the consortium said in a statement.
Join Date: May 2006
Location: Endor
Age: 83
Posts: 320
Likes: 0
Received 0 Likes
on
0 Posts
The Musings of a Qantas Manager
Why wait till November?
What do we do now???? Sayeth the Qantas Board.
What cunning plan can we hatch, now the APA bid has failed?
Are major shareholders going to come after us with a blunt and rusty knife?
Will the Government come after us with a blunt and rusty knife?
Will Macquarie come after us with a blunt and rusty knife?
How are we going to maximise the long term value of the company to its shareholders, bearing in mind that the ASX is in the short term a voting machine, but long term a weighing machine?
How are we going to get our planning time horizon out to five - ten years again, when lately its been focussed on TTB (Time To Bid/Bonus, take your pick)
What job openings are there for me elsewhere?
How else am I going to polish my ego?
What "Story" are we going to feed the Government, the public and the peasants now? Obviously they don't believe we are a run down "legacy" airline, fit only for the knackers yard.
How can we keep crying poor, delivering rotten customer service, and making record profits? How long will the suckers put up with this?
Obviously we can still keep CASA on side, and of course our excellent safety record is a foregone conclusion, no matter who maintains or flys our aircraft.
What do we do now???? Sayeth the Qantas Board.
What cunning plan can we hatch, now the APA bid has failed?
Are major shareholders going to come after us with a blunt and rusty knife?
Will the Government come after us with a blunt and rusty knife?
Will Macquarie come after us with a blunt and rusty knife?
How are we going to maximise the long term value of the company to its shareholders, bearing in mind that the ASX is in the short term a voting machine, but long term a weighing machine?
How are we going to get our planning time horizon out to five - ten years again, when lately its been focussed on TTB (Time To Bid/Bonus, take your pick)
What job openings are there for me elsewhere?
How else am I going to polish my ego?
What "Story" are we going to feed the Government, the public and the peasants now? Obviously they don't believe we are a run down "legacy" airline, fit only for the knackers yard.
How can we keep crying poor, delivering rotten customer service, and making record profits? How long will the suckers put up with this?
Obviously we can still keep CASA on side, and of course our excellent safety record is a foregone conclusion, no matter who maintains or flys our aircraft.
Sprucegoose
Join Date: Sep 2000
Location: Hughes Point, where life is great! Was also resident on page 13, but now I'm lost in Cyberspace....
Age: 59
Posts: 3,485
Likes: 0
Received 1 Like
on
1 Post
Perhaps Kylie might have a point with her song...
Better the Devil you know!
Better the Devil you know!
Join Date: Jan 2006
Location: australia
Posts: 350
Likes: 0
Received 0 Likes
on
0 Posts
better the devil you dont
so mj has taken the fall ! what about gd and cohorts ? let me guess the roadshows will be interesting,all the buzz words ,were moving fwd,now is the time for committment and so forth ,old james will bring out the strength and unity line,but dare we hear the old favorite PARTNERSHIP,i think not.will the bridge of trust fall and will the drivers of change move off the redline? throw another log onto the pity city fire i say
Join Date: Apr 2000
Location: Oz
Posts: 754
Likes: 0
Received 0 Likes
on
0 Posts
Ding, Dong, The Witch Is Dead
About time. But the whole thing is a breathtaking indictment on the state of corporate responsibility in Australia at the moment. If you sit around and do your job.......you get millions in bonuses. If you completely screw up a multi-billion dollar private equity bid from start to finish........you get the same millions in bonuses - just not the "extra" millions in bonuses.
Listening to them on TV and reading their comments saying "oh, yeah, sure the bid failed and it cost millions, and we undervalued the company, and we made some silly comments on shareholders, and we had a couple of conflicts of interest, and we had to suspend trading for a while, but it's not really our fault and we plan to carry on as normal" kinda made me wanna puke.
Jackson was clearly pushed kicking, screaming and clawing, but she'll leave with not one penny or share less than if she had voluntarily left at any other time.
Listening to them on TV and reading their comments saying "oh, yeah, sure the bid failed and it cost millions, and we undervalued the company, and we made some silly comments on shareholders, and we had a couple of conflicts of interest, and we had to suspend trading for a while, but it's not really our fault and we plan to carry on as normal" kinda made me wanna puke.
Jackson was clearly pushed kicking, screaming and clawing, but she'll leave with not one penny or share less than if she had voluntarily left at any other time.
Moderator
Leave now - reduced bonus?
Leave at the AGM - full 2006/2007 bonus on profits?
Besides, it's looking like a record profit - all may be forgiven by the AGM??
Leave at the AGM - full 2006/2007 bonus on profits?
Besides, it's looking like a record profit - all may be forgiven by the AGM??
Leave at the AGM - full 2006/2007 bonus on profits?
Certainly Darth and the other executives get a bonus but the board members just get a fee don't they?
Sprucegoose
Join Date: Sep 2000
Location: Hughes Point, where life is great! Was also resident on page 13, but now I'm lost in Cyberspace....
Age: 59
Posts: 3,485
Likes: 0
Received 1 Like
on
1 Post
the board members just get a fee don't they?
Qantas chief to stay
Geoff Easdown
May 19, 2007 12:00am
QANTAS chief executive Geoff Dixon has bowed to board pressure and put off his retirement.
His decision was flagged in a note that formally announced the looming retirements of chairwoman Margaret Jackson, 54, and director James Packer, 39.
Qantas confirmed Mr Dixon and his 20 key managers had responded to individual approaches to stay in their jobs.
Mr Dixon, 67, who is guiding Qantas towards its 14th straight year of profits, gave a commitment to remain until at least July 2009.
While he is already on an open-ended contract, he had said previously he would stay only until July next year.
Mr Packer, Australia's richest man and head of the Publishing and Broadcasting empire, told the board he intended to follow Ms Jackson by not seeking re-election at the November shareholders' meeting.
Mr Packer is a close friend of Ms Jackson.
Her decision was announced at the beginning of the first day of talks on Thursday, thus avoiding the threat of a board rift over the way she had handled the failed $11.1 billion Airline Partners Australia buyout offer.
Senior staff at Qantas were not surprised by Mr Packer's decision to step down with Ms Jackson.
"He was brought to the board by Margaret and was openly regarded as her protege," an airline source said.
"Why would he want to stay for just $100,000 a year in directors' fees when he has bigger things to do at PBL."
Ms Jackson, probably the nation's most prominent businesswoman, paid the price for the Macquarie Bank-led consortium's failed offer.
In a statement yesterday, Ms Jackson said her succession would be the subject of board consideration over the coming months.
She said directors would also have to find a replacement for Mr Packer, who had "served the board with distinction and diligence".
The board discussions, planned as a one-day meeting, dragged on for two days because of the Jackson issue.
In announcing her decision to retire, Ms Jackson said she greatly valued what Qantas had achieved in her seven years as a director.
While the statement listed the eight-point agenda the board addressed during the two-day meeting, no clues were offered as to the board's decisions.
However, it was clear from the statement they were concerned at the emergence of Singapore government-backed Tiger Airways as a domestic rival to Jetstar.
It was also clear from the statement they further refined their plan to restructure Qantas long-haul services by replacing the flying kangaroo on some routes with Jetstar flights that are more profitable.
The meeting also looked at plans to re-equip the Qantas fleet with new Boeing and Airbus passenger jets.
Other discussions centred on plans to consolidate, restructure and rationalise internal systems and supply businesses.
The airline also intends to pursue further cost-cutting and efficiencies through its Sustainable Future Program, which has so far generated savings of almost $2 billion.
Qantas shares closed 3¢ down at $5.22.
Personally, I suspect that Packer resigned so that he could be free to organise another private equity buyout proposal - probably involving Macquarie Bank.
May 19, 2007 12:00am
QANTAS chief executive Geoff Dixon has bowed to board pressure and put off his retirement.
His decision was flagged in a note that formally announced the looming retirements of chairwoman Margaret Jackson, 54, and director James Packer, 39.
Qantas confirmed Mr Dixon and his 20 key managers had responded to individual approaches to stay in their jobs.
Mr Dixon, 67, who is guiding Qantas towards its 14th straight year of profits, gave a commitment to remain until at least July 2009.
While he is already on an open-ended contract, he had said previously he would stay only until July next year.
Mr Packer, Australia's richest man and head of the Publishing and Broadcasting empire, told the board he intended to follow Ms Jackson by not seeking re-election at the November shareholders' meeting.
Mr Packer is a close friend of Ms Jackson.
Her decision was announced at the beginning of the first day of talks on Thursday, thus avoiding the threat of a board rift over the way she had handled the failed $11.1 billion Airline Partners Australia buyout offer.
Senior staff at Qantas were not surprised by Mr Packer's decision to step down with Ms Jackson.
"He was brought to the board by Margaret and was openly regarded as her protege," an airline source said.
"Why would he want to stay for just $100,000 a year in directors' fees when he has bigger things to do at PBL."
Ms Jackson, probably the nation's most prominent businesswoman, paid the price for the Macquarie Bank-led consortium's failed offer.
In a statement yesterday, Ms Jackson said her succession would be the subject of board consideration over the coming months.
She said directors would also have to find a replacement for Mr Packer, who had "served the board with distinction and diligence".
The board discussions, planned as a one-day meeting, dragged on for two days because of the Jackson issue.
In announcing her decision to retire, Ms Jackson said she greatly valued what Qantas had achieved in her seven years as a director.
While the statement listed the eight-point agenda the board addressed during the two-day meeting, no clues were offered as to the board's decisions.
However, it was clear from the statement they were concerned at the emergence of Singapore government-backed Tiger Airways as a domestic rival to Jetstar.
It was also clear from the statement they further refined their plan to restructure Qantas long-haul services by replacing the flying kangaroo on some routes with Jetstar flights that are more profitable.
The meeting also looked at plans to re-equip the Qantas fleet with new Boeing and Airbus passenger jets.
Other discussions centred on plans to consolidate, restructure and rationalise internal systems and supply businesses.
The airline also intends to pursue further cost-cutting and efficiencies through its Sustainable Future Program, which has so far generated savings of almost $2 billion.
Qantas shares closed 3¢ down at $5.22.
Personally, I suspect that Packer resigned so that he could be free to organise another private equity buyout proposal - probably involving Macquarie Bank.
Join Date: Jul 2001
Location: Darwin
Posts: 229
Likes: 0
Received 0 Likes
on
0 Posts
Derek Zoolander
Precisely DZ. Where is James Strong these days anyway? It's not rocket science listening to the staff on all levels - you will learn more valuable information than you will ever get from some management spin doctor!
I guess we won't be reading any more free advertising, I mean advertorial on Japanese ski resorts owned by her old man in the in-flight magazine.
Not sure who said it but it's a goodie: "You can tell a lot about a man by the way he treats a person he doesn't need".
She could have learned something from fellow board member James Strong. Walk through the terminal sometime with the peasants. Someone might say hello. Talk to the staff frequently. You might learn something not apparant in the thin air where you mingle
I guess we won't be reading any more free advertising, I mean advertorial on Japanese ski resorts owned by her old man in the in-flight magazine.
Not sure who said it but it's a goodie: "You can tell a lot about a man by the way he treats a person he doesn't need".