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AUGUST 24th - QANTAS

Old 15th Aug 2011, 12:43
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We flag the potential for significant one-off start-up costs of at least $30m as well as potential impairment charges on the 747 fleet and redundancy costs for
affected Australian staff.

This is the most concerning part of the whole report.
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Old 15th Aug 2011, 12:49
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Where is George Speight when you need him?
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Old 15th Aug 2011, 12:54
  #183 (permalink)  
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Change management.... Change management!

The industry has changed inexorably, the outcome of deregulation and globalisation is yet to be completed. Were these changes needed, beneficial or detrimental to the user, the industry or the investor? With the myopia of too short a temporal scale, I would suggest at best the jury is still out on all of the "benefits' of either deregulation or globalisation.

QFA needed to change to remain competitive, and that has been to at least some extent occurred with good grace. Until now.

Now, the clumsy management efforts to blame the parent operation for the cost of establishing the sibling is bordering on bad taste, and is questionable from a corporate reporting position. Would think that activity by a management team that deliberately diminishes shareholder value (and I still am one of those) can end badly.

Of all the options available to the P.D. and his cronies, including his predecessors, entering into a deliberate parasitic structure that siphons both goodwill and traffic is hardly enlightened, nor has it ever ended well in any other rendition of this model to date.

Where management fails, blaming the staff is hardly productive. Putting lipstick on the pig is still not kosher, and hardly increases shareholder value.

QF has had fairly loyal customers, it is technically competent, and could compete in the marketplace given the opportunity. The passengers do recognise a con when it is being applied, Jet star is not the QF product that has been developed over time, it has it's own place, but not as a sham QF.

QF shareholders have some choices, allow the PD to continue the damage that has been wrought on the company or stop the rot, and establish QF again as a legitimate program, and account honestly for the Jetstar apparatus.

Jetstar has a place, it sets low standards, and there is a place for that, but it should not be as a cause of the continuing necrosis of QF while management blame QF for their decisions.

Industry standards are uniquely open to arbitrage; and management use this to boost profits to their shareholders to some extent. Such activity comes at a cost, and ultimately as always the cost of cost cutting gets paid, somewhere, by somebody sometime.

With disinterested investors and the management hellbent on perpetrating their management plans, the timeframe for resuscitating this icon is rapidly shrinking.

Whatever the personal opinion is of the competency of the staff, all parochialism and egos aside, the brand has been historically successful, and any decline is attributable to the conscious decisions of the incumbent management.

Industrial action? this is an engineered situation, be prepared to be part of the industry diaspora as a consequence of your actions. Would think that at below 155 cents, your unions would be better off with an LBO and firing the PD and his ilk.


"You cannot have a proud and chivalrous spirit if your conduct is mean and paltry; for whatever a man's actions are, such must be his spirit".

Demosthenes (384 BC - 322 BC), Third Olynthiac on the attack of Olynthus by Phillip II of Macedon, 349BC


"Never was there a crisis that demanded more careful handling than the present. But the difficulty lies, I think, not in proposing a plan to meet the case: what puzzles me, men of Athens, is how to put it before you. For what I have seen and heard convinces me that most of your chances have escaped us rather from a disinclination to do our duty than from a failure to understand it. I must ask you to bear with me if I speak frankly, considering only whether I am speaking the truth, and speaking with the object that things may go better in the future; for you see how the popularity-hunting of some of our orators has led us into this desperate predicament".
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Old 15th Aug 2011, 14:05
  #184 (permalink)  
 
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An out of control PR Stunt



This is the sort of PR stunt we have to deal with. In this case, very embarrassing, he must have been the only passenger on the plane. The good news is, the media appear to be seeing through it, well some of them. (not Sunrise)
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Old 15th Aug 2011, 16:05
  #185 (permalink)  
 
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Has anyone seen AJ lately ?
Well sadly yes, just found him on BBC.com whilst checking the UK news....



BBC - Homepage

A New Spirit

I am not religious but found myself saying out loud, OMG!
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Old 15th Aug 2011, 17:22
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Hmmm. Just like a bad rash, he pops up where you least expect it ! That add is embarrassing and absolutely atrocious. The uncomfortable hand gestures, forced smile and spin was nauseating and has me reaching for yet another sick bag to fill. I am curious though, why didn't we see any of the tired old 767's and 747's ? I also like the way he was looking longingly out of the terminal window at the ramp operations taking place outside, he looked like a proud father looking at his new baby ! Oh sorry, he was, I think he was watching QGS in action !
This advertisement is nothing short o piffle and folly. Now where did I put my toilet brush again ?
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Old 15th Aug 2011, 20:45
  #187 (permalink)  
 
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I go with Marcus Padley, not Macquarie.

The way to make money on the stock market is to find where the market is wrong, not where it is right.

I think Macquarie is wrong about "Qantasia" ever being profitable.

Unfortunately I don't believe in shorting a stock.
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Old 15th Aug 2011, 20:48
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Probably Qantas biggest previous marketing but understated advantage was its reputation for safe operations. In my day it sold a lot of seats.

I have some experience of this factor and it is now on the line. It is a perception which may be lost.
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Old 15th Aug 2011, 21:36
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I just hope the powers that be aren't trying to force another 89' pilots dispute so that it can then hire cheaper labor elsewhere. It's really a sad story this one. We don't spend years training and thousands of dollars of our own money to earn such poultry remuneration.

Good luck guys, will be waiting with baited breath to hear.

Rocket
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Old 15th Aug 2011, 22:55
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Did Joyce just say in that video he wanted to build on their 90 years of experience? I thought a few months back in the senate inquiry that experience was over-rated? Hey AJ? Bruce?

In another 8 days we'll all be suprised to find the concerns about offshoring etc were just a storm in a tea cup. Or we'll look back at that video and pick out all of the lies...
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Old 15th Aug 2011, 23:05
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That add is embarrassing and absolutely atrocious.
and is in the daily press today (Tues 16th). Someone left the Daily Telegraph (Sydney) on the train this morning.

Front Page - there's a new spirit 26 x 6 cm
Page 2 - full page - repeats the crap that AJ spoke about, including 'A state-of-the-art fleet with the best comfort, service and entertainment in the sky.' really some of the management and the board members should try flying the old 767's to HNL
Inside back page - full page saying 'there's a new spirit'
Back Page - full page.

I quickly turned to the sports pages.
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Old 15th Aug 2011, 23:15
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Arrow

...And it would seem he has heard you all coming... This is the reason for major newspaper advertising in all major national papers this morning...

THERE WILL BE A MAJOR PRESS CONFERENCE THIS MORNING AROUND 10AM I HEARD...

IT WOULD SEEM HE IS TRYING TO GET IN EARLY BEFORE ANY PLANS TO DISRUPT THIS ANNOUNCEMENT THAT WAS DUE TO BE MADE ON AUG 24 PERHAPS.

I hope this info is correct... and dont shoot the messenger if its not.
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Old 15th Aug 2011, 23:18
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He might be able to slip in a new Fuel Levy increase before the 24th.
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Old 15th Aug 2011, 23:25
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Arrow

Well its true - he will be making a press announcement at 10am that is being broadcast live via ABC News at least.

Stay tuned! ,,,and standby.
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Old 15th Aug 2011, 23:32
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Why the rush?

Fed Sec, what exactly do you ask in your 61 questions?

Do you think they will see the light of day if Joyce and Clifford swamp the world with this?

It will be hard to gain traction.
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Old 15th Aug 2011, 23:44
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Be careful all, he may well be enticing the unions to take some further action before the 24th so as to lay some blame during the reporting of annual results.
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Old 15th Aug 2011, 23:51
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I will release the 61 questions in due course. Couple of other things need to happen first.
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Old 16th Aug 2011, 00:08
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10.00am today, is this the big one do you think?

I feel bloody sick. I just hope that maybe we have all been wrong and today management will inspire us by doing something great.

Positve thoughts, positive thoughts.
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Old 16th Aug 2011, 00:22
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Just got briefed by IR. They've decided to order 36 x 777-300ER's.

A few other things happening as well, Joyce to leave in 2 months to head a Global aircraft leasing company, BB to take over as CEO. John Borghetti is coming back to work in the mail room.

Well it is a rumour network.
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Old 16th Aug 2011, 00:22
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I just hope that ......... management will inspire us by doing something great.
For those who subscribe to the "many worlds" theory of the universe, that might indeed be happening. Joyce may announce that he has come to an agreement with the pilots, that Jetstar will only target the leisure market and will withdraw from routes where it is already cannibalising the full-service carrier, and announce that in a brilliant stroke of marketing genius, his incredibly under-rated executives have managed to negotiate a cut-price deal on 12 B777s fresh out of the factory, to initiate an accelerated replacement/renewal program for the mainline fleet to win back customers deserting it for other carriers. Conversion training starts Sep 1.

Unfortunately though, this won't be occurring in the universe we inhabit.
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