He's at it again
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He's at it again
Some months ago I read several stories written by Steve Creedy at the Australian regarding Virgin Blue's financial position and its bleak outlook. This information had come from a group of financial "analysts" who later did a complete back-flip saying that the media had taken their analysis out of context and were forced to review their forecasts for the airline (taking it from a loss to a profit). This also came after Virgin Blue had threatened legal action against said "analysts". I decided not to buy Virgin shares. Now that the Virgin Blue share price has more than doubled since then, I wonder how all these experts feel. To add to it, I picked up todays Australian only to see that Steve Creedy's at it again! I can't believe it. Again he is quoting "analysts" reporting yesterdays news, ala VB's second half forecast and then making sure he finishes off with a couple of paragraphs regarding Qantas' forecast growth and massive profit. This type of subjective journalism needs to end so that these airlines can get on with the business of safely flying people from A to B.
Last edited by biton; 19th Aug 2008 at 02:58.
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Biton I wouldn't be worried about missing out on the shares.
It is annoying however to see all the doom and gloom hear say about VB and then a week later everything is back to normal. Media hype hysteria ect.
So what happened to fuel going to 200 a barell? I don't know what it is now but i certainly haven't seen any more "the sky is falling" articles.
Deep down i think most executives loved the hype and used it to cut routes cancel contracts and drive a harder bargain where needed.
It is annoying however to see all the doom and gloom hear say about VB and then a week later everything is back to normal. Media hype hysteria ect.
So what happened to fuel going to 200 a barell? I don't know what it is now but i certainly haven't seen any more "the sky is falling" articles.
Deep down i think most executives loved the hype and used it to cut routes cancel contracts and drive a harder bargain where needed.
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Never mind, too bad. I'm sure it happens to a lot of people. Have to be careful where you get investment advice from!
Now where was I... just the other day, a little bird told me to buy.....
Now where was I... just the other day, a little bird told me to buy.....
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You're right about the doom and gloom. I'm really hoping that remains an anti-climax. I'm not worried about the money...it would have been nice and I only have myself to blame. My point is mostly directed towards these journalists who never seem to be held accountable when their information turns out to be bogus. It seems they can write what ever they like without any form of accountability.
Last edited by biton; 19th Aug 2008 at 03:00.
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Biton
In matters of investment I would rate advice from the media and from an acknowledged anon website - on about the same credibility as going to a laser eye clinic to ask if you need glasses
The media are there to sell advertising via capturing audience - and again, as regards matters financial, the Fin Review is more appropriate less sensation driven reading.
Overall, I think Creedy does a pretty fair job - if the analysts had to review their forecast perhaps Steve only did the best with the material he had at the time (and, no, I'm not related or a drinking buddy of his).
If you want to get it really wrong, try the Herald Sun alias the 'AFL Daily'
There is actually theoretical accountability - the Press Council for a complaint. It's as valuable as going to the AMA about a doctor, I understand.
In matters of investment I would rate advice from the media and from an acknowledged anon website - on about the same credibility as going to a laser eye clinic to ask if you need glasses
The media are there to sell advertising via capturing audience - and again, as regards matters financial, the Fin Review is more appropriate less sensation driven reading.
Overall, I think Creedy does a pretty fair job - if the analysts had to review their forecast perhaps Steve only did the best with the material he had at the time (and, no, I'm not related or a drinking buddy of his).
If you want to get it really wrong, try the Herald Sun alias the 'AFL Daily'
There is actually theoretical accountability - the Press Council for a complaint. It's as valuable as going to the AMA about a doctor, I understand.
Sorry JM, I have to disagree. Steve Creedy's journalism is sloppy at the best. He just regurgitates official company statements without doing any independent research. His articles are invariably one sided and technically incorrect.
I understand that when he joined News Corp, the only vacant job for a journalist was aviation, so he was assigned a position that he has no interest in or genuine feel for. He certainly has no ability to discuss a technical issue in layman's terms.
I understand that when he joined News Corp, the only vacant job for a journalist was aviation, so he was assigned a position that he has no interest in or genuine feel for. He certainly has no ability to discuss a technical issue in layman's terms.
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yes both SC and that GiT from WA need to declare an interest when reporting. The piece by GiT in today's oz regarding media beatup against qantas was pure mein kampf. These guys get jetted around the world by qantas (and more) and when the motherland needs some positive spin they ask their loyal subjects to provide. All I ask for is that both Steve and Geoff tell their readers what they been given in return for favourable comments.
The media turned on John Laws and Alan Jones when they were found to be making favourable comments in return for cash, so be very careful boys, for the word is out.
The media turned on John Laws and Alan Jones when they were found to be making favourable comments in return for cash, so be very careful boys, for the word is out.
Evertonian
Well, if you throw enough mud....eventually, he may be right & it'll go straight onto his resume'!
Personally...I give them till May!
Personally...I give them till May!
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Let's see if I've got this right, Biton.
Some "months ago" you were gonna buy some Virgin shares and Stevo the Wonder Dog said, "don't do it"...
so you didn't...
and now you reckon the share price has doubled?...
and you reckon Stevo has dudded you?
Can you give us some more details, like the share price "some months ago", versus the share price today?
And, did you know that Stevo is generally considered a "bit of a joke" to aviation pros?
Hope this post helps you in any future share tradings!
Some "months ago" you were gonna buy some Virgin shares and Stevo the Wonder Dog said, "don't do it"...
so you didn't...
and now you reckon the share price has doubled?...
and you reckon Stevo has dudded you?
Can you give us some more details, like the share price "some months ago", versus the share price today?
And, did you know that Stevo is generally considered a "bit of a joke" to aviation pros?
Hope this post helps you in any future share tradings!
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Obie, Vb shares dropped to 48 cents. Every man and his dog proclaimed doom and gloom. (You all know who you are). Me and a couple of other posters were laughed at when we ventured the opinion they would be good buying. (I did) Today's close? $1.16. (I exited this afternoon) Thank you mama for the rabbits. Moving right on to the next one......
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Obie, as I've said I've no one else to blame but myself. I scared myself out of investing. Steve Creedy is not responsible for me not investing. He sure seems to like Qantas stock though! Maybe I should've said "a short time ago when the share price was 45.5c, given that it's now over $1 a share. All I was trying to point out were my concerns regarding Stevo the wonder dog, as you put it (I like it!!). As it turns out my concerns aren't new. Maybe I just haven't been reading him for long enough. I'm very happy for those who did invest in Virgin Blue stock at the low and have so far made a great return. Pays to back yourself.
Last edited by biton; 19th Aug 2008 at 03:04.
Posted on the Toll thread last month, but still applicable here
A well presented fella walks into a village in the jungle and announces that he will gladly purchase any monkey for $10. The villagers were thrilled and rounded up the nearest monkeys and sold them to him.
The next day the same fella offers $20 a monkey, and after much searching the villagers managed to find more monkeys.
The next day he offered $30 but only a six turned up. The next day $40 with only one or two, and the day after $50 until he had all the monkeys in the region in his cage.
Then he announced that he had to leave on business for two days but his assistant would purchase any new monkeys that were presented for $100.
After he left the assistant told the villagers that if they bought the monkeys in the cage from him for $35, they could sell them back again to the fella for his asking price of $100.
The villagers couldn't have bought the monkeys off him any quicker than they did. And they bought all the monkeys back.
That night the assistant too had to leave on business for two days.
And neither he nor the well presented fella were ever seen again.
You now have a thorough understanding on how the stock market works.
halas
The next day the same fella offers $20 a monkey, and after much searching the villagers managed to find more monkeys.
The next day he offered $30 but only a six turned up. The next day $40 with only one or two, and the day after $50 until he had all the monkeys in the region in his cage.
Then he announced that he had to leave on business for two days but his assistant would purchase any new monkeys that were presented for $100.
After he left the assistant told the villagers that if they bought the monkeys in the cage from him for $35, they could sell them back again to the fella for his asking price of $100.
The villagers couldn't have bought the monkeys off him any quicker than they did. And they bought all the monkeys back.
That night the assistant too had to leave on business for two days.
And neither he nor the well presented fella were ever seen again.
You now have a thorough understanding on how the stock market works.
halas
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Originally Posted by dodgybrothers
yes both SC and that GiT from WA need to declare an interest when reporting. The piece by GiT in today's oz regarding media beatup against qantas was pure mein kampf. These guys get jetted around the world by qantas (and more) and when the motherland needs some positive spin they ask their loyal subjects to provide. All I ask for is that both Steve and Geoff tell their readers what they been given in return for favourable comments.
The media turned on John Laws and Alan Jones when they were found to be making favourable comments in return for cash, so be very careful boys, for the word is out.
The media turned on John Laws and Alan Jones when they were found to be making favourable comments in return for cash, so be very careful boys, for the word is out.
The Oz requires all its writers to declare when they've been flown anywhere by an airline to do a report - witness Creedy's EK A380 report last week. QF doesn't "jet" anyone around the world for free, and knowing both Creedy and GT personnally, I can assure you that neither feel any obligation to write positive stuff about the Red Rat in exchange for anything, and nor would they.Maybe they're just trying to put some balance back into the debate after reading the dribble most of you lot come out with!
Mods - isn't this a rumour network? Reads more like a slander network of late!
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Some rather incredible statements have been made in this thread. This from the thread starter:
And this, from Going Boeing:
Both of these statements were made about the journalist, Steve Creedy.
If you think journalists should be "investigating" every single press release then you have a bit to learn about media and journalism.
Of course a journalist will construct an article around a press release. The "facts" reported and those detailed in the press release. Perfectly legitimate journalism. Perhaps you think the journalists should be getting their facts from PPRune?
Do you seriously think the journalists should be "investigating" and "researching" every press release that lands on their desk? Have you thought for a moment how expensive that would be for the newspaper concerned? I can tell you that it would be too expensive to be viable.
Again he is quoting "analysts" reporting yesterdays news ...
He just regurgitates official company statements without doing any independent research.
If you think journalists should be "investigating" every single press release then you have a bit to learn about media and journalism.
Of course a journalist will construct an article around a press release. The "facts" reported and those detailed in the press release. Perfectly legitimate journalism. Perhaps you think the journalists should be getting their facts from PPRune?
Do you seriously think the journalists should be "investigating" and "researching" every press release that lands on their desk? Have you thought for a moment how expensive that would be for the newspaper concerned? I can tell you that it would be too expensive to be viable.
Last edited by FGD135; 17th Aug 2008 at 23:39.
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I'll accept being called a fool, if you prove me wrong.
Tell me there has not been any chairmans's lounge entries, upgrades on leisure travel upgrades for family members, junkets and favourable treatment.
If you know them then you know the answer.
Tell me there has not been any chairmans's lounge entries, upgrades on leisure travel upgrades for family members, junkets and favourable treatment.
If you know them then you know the answer.
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Originally Posted by dodgycomments
I'll accept being called a fool, if you prove me wrong.
Tell me there has not been any chairmans's lounge entries, upgrades on leisure travel upgrades for family members, junkets and favourable treatment.
If you know them then you know the answer.
Tell me there has not been any chairmans's lounge entries, upgrades on leisure travel upgrades for family members, junkets and favourable treatment.
If you know them then you know the answer.
Surely the onus must be on you to substantiate your accusations.
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Originally Posted by obie
... if you know them, why don't you ask them?
Besides, both are contactable through the Oz in Steve's case, or through Australian Aviation or ATW for GT, plus as Buster said, GT posts here occasionally too. Why not put it to them yourselves, or is that just a bit too brave?!