AUGUST 24th - QANTAS

[gobbledock]

So as a reward for presiding over an organisation that supposedly has lost money consecutively on it's International arm for the past 5 years, or whatever fanciful crap they are spinning, he gets a 71 per cent payrise? Yeah, that makes sense doesn't it?
Imagine what he will earn if ever the International sector does turn a profit!!!
I smell a veneer of sh#t around this entire malaise.

This is a parables of persistence, painstakingly & methodically documenting the evidence until it can no longer be hidden by the authorities.

Spot on BB. Rumour can be fun, but it won't tear down the veil of protection surrounding these pathetic human beings. Evidence evidence evidence is what is required, and it doesn't matter what source it comes from -Disgruntled current employees well connected to the inner sanctum, former employee's, Wikileaks, accountancy firms, consultancy firms or former gay lovers! Proof is required as a starting point, so I would also encourage all that if you have even the most remote shred of documented proof then it is time to offer it up and bring these clowns crashing back down to earth. Let's face it, who the fukc do they think they are, that a handful of egotistical sh#tbags can play with a national icon like it was a $10 football.

[B772]

33 Disengage. The share price is actually down 43% over the past 12 months and if you had purchased QF 10 years ago you are still underwater without even considering the effects of CPI on the dollar value.

For those interested the major buyer of QF shares over the past week has been the Franklin Group and afflilates of Templeton Asset Management fame who now control 9.94% of the voting rights.

[UPPERLOBE]

Triffic then, aye...

Regulatory issues

In 2004, Franklin Templeton paid fines to the State of California, the Commonwealth of Massachusetts, and the U.S. Securities and Exchange Commission to settle issues regarding questionable practices including market timing. The plan for distribution of settlement monies was completed in September 2006, and all distributions have been completed as of December 2008.
A settlement was also completed with the Ontario Securities Commission concerning Bissett Funds in September 2005.

Source.

Franklin Templeton Investments - Wikipedia, the free encyclopedia

[manfred]

An interesting article:

What it takes to become a Qantas pilot | News.com.au

[Sunfish]

Qantas - a good buy at the moment because it is a takeover target.

[Cancel Speed]

This is a silly question, but can the Jetstar group take over QF? Change of ownership but still Australian owned.

[ALAEA Fed Sec]

Just some information from the Corporations Act that may assist those shareholders who are wondering why Qantas have said they won't be running the motion put by hundreds of shareholders. I can't see here how they can avoid it.

Division 4—Members’ rights to put resolutions etc. at general meetings
249N Members’ resolutions
(1) The following members may give a company notice of a resolution that they propose to move at a general meeting:

• (a) members with at least 5% of the votes that may be cast on the resolution; or
• (b) at least 100 members who are entitled to vote at a general meeting.

(1A) The regulations may prescribe a different number of members for the purposes of the application of paragraph (1)(b) to:
(a) a particular company; or
(b) a particular class of company.
Without limiting this, the regulations may specify the number as a percentage of the total number of members of the company.

• (2) The notice must:
  (a) be in writing; and:
  (b) set out the wording of the proposed resolution; and
  (c) be signed by the members proposing to move the resolution.
• (3) Separate copies of a document setting out the notice may be used for signing by members if the wording of the notice is identical in each copy.
• (4) The percentage of votes that members have is to be worked out as at the midnight before the members give the notice.

249O Company giving notice of members’ resolutions
(1) If a company has been given notice of a resolution under
section 249N, the resolution is to be considered at the next general meeting that occurs more than 2 months after the notice is given.
Corporations Act 2001 319





Chapter 2G Meetings
Part 2G.2 Meetings of members of companies
Division 4 Members’ rights to put resolutions etc. at general meetings
Section 249P

• (2) The company must give all its members notice of the resolution at the same time, or as soon as practicable afterwards, and in the same way, as it gives notice of a meeting.
• (3) The company is responsible for the cost of giving members notice of the resolution if the company receives the notice in time to send it out to members with the notice of meeting.
• (4) The members requesting the meeting are jointly and individually liable for the expenses reasonably incurred by the company in giving members notice of the resolution if the company does not receive the members’ notice in time to send it out with the notice of meeting. At a general meeting, the company may resolve to meet the expenses itself.
• (5) The company need not give notice of the resolution:
  • (a) if it is more than 1,000 words long or defamatory; or
  • (b) if the members making the request are to bear the expenses of sending the notice out—unless the members give the company a sum reasonably sufficient to meet the expenses that it will reasonably incur in giving the notice.

[Worrals in the wilds]

(1A) The regulations may prescribe a different number of members for the purposes of the application of paragraph (1)(b) to:
(a) a particular company; or
(b) a particular class of company.

Nothing smelly in the regs wrt Qantas or airlines?

[esreverlluf]

FedSec - wrt the no-confidence motion - I'm sure you guys are all over it, but it what does ASIC have to say about this style of corporate governance?

[TIMA9X]

What were those greedy pilots asking for? 2.5%?

Yep says it all, damages any credibility AJ and his board have left and it was Jimmy Bow tie who approved it... true to form, leopards don't change their spots..

.

[C441]

What were those greedy pilots asking for? 2.5%?

And included some productivity gains to be negotiated.

I wonder what sort of productivity AJ offered and with whom it was negotiated?

[Fris B. Fairing]

Doubtless a motion of no confidence would not have got up anyway but the important thing is that hundreds of shareholders cared enough to go out of their way to have a say. Probably many of these shareholders are current or retired Qantas staff who hold on to their shares, not in the hope that it will make them wealthy, but rather because of an old-fashioned concept known as pride of ownership, a concept that AJ and the board would not comprehend. The fact that hundreds of quality shareholders are being denied a voice is a bigger story than if the motion had been presented and defeated.

[esreverlluf]

Fris B - that is spot-on!

[bandit2]

The problem is, these leeches have no conscience. I've heard Dixon cry poor about fuel etc during our EBA negotiations. Guess what, not long after, he announced over a billion dollar profit. We still had to fight for our %3. These idiots have bagged almost every employee in the company, cried poor, announced 550 million profit AND given the CEO a 70% payrise. The Chairman of the Renumeration committee thinks the 70% payrise is in the interest of our shareholders. The very same shareholders who haven't had a dividend in 3 years. Who knows what the Board have given themselves for there 'huge' effort this year.

[esreverlluf]

I have just submitted a complaint to ASIC re Qantas' intended treatment of the no-confidence motion - I encourage others to do the same.

Australian Securities and Investments Commission - Complaining about companies or people

Select on-line complaint form about three quarters of the way down the page.

[Take five]

Annual General Meeting

A couple of questions from talks today which someone in the know may answer correctly.

1. When you vote on the Annual Gen Meeting paper which is mailed to shareholders, and you give your proxy vote to the chairman to vote for you, is your choice on the ballot paper taken into consideration or does the chairman of the meeting control your vote.

2. Where is the meeting to be held this year.

3. I am thinking that anyone who can, needs to be in attendance to make their vote valid.

[ampclamp]

You direct your proxy how to vote, chairman or not. They must cast them iaw your instructions. If you do not make such direction he/ she may cast them as they wish.
However if the chair is part of a motion he / she maybe excluded from the vote so the proxy may flow to a stand in for that vote. Not 100% but along those lines.

[Longbow25]

ASIC Complaint

Just lodged by complaint to ASIC as well.

['holic]

Maybe you should read the Corporations Act. The company have no discretion as to which resolutions they present to shareholders. There's nothing in the Qantas Constitution either, maybe you should read it before telling everyone else to.

ASIC Online Complaint Form
https://www.edge.asic.gov.au/008/com...133b4a71511ca5

[denabol]

shareholder unhappiness

RBS Equities has downgraded Qantas and kept Virgin as a buy in their transport stocks bulletin.

They make reference to the risks posed by the Asian premium carrier and industrial trouble.

Qantas at risk of biz travel drop says RBS Equities | Plane Talking