QANTAS - WHERE TO NOW?
Join Date: Feb 2006
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I have had a word with some of these buggers and some of them get it and some don't. Regardless of what they will do I will lead by example and not help Qantas by giving them extra time.
If they get some order telling me that this is unprotected industrial action I don't care I will just have a good reason every time in fact I think the prospect of losing my job has required me to have a drink or two every night.
If they get some order telling me that this is unprotected industrial action I don't care I will just have a good reason every time in fact I think the prospect of losing my job has required me to have a drink or two every night.
Join Date: Jul 2007
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Text, OT required today 1000 start. Text, OT required today 1400 start. Text, OT required for nightshift today.
I wish I could go in, but my cat needs his hair washed, and probably a rinse as well.
Crow:
I wish I could go in, but my cat needs his hair washed, and probably a rinse as well.
Crow:
Join Date: Jun 2008
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@TIMA9X
I heard the news this morning, and I feel the company is buying its own shares so that it can offload them to a "preferred buyer", namely an equity company with the major shareholders being Dixon and Singleton. They are still hovering around the company, and what better way to push the sale through to privatise the company than to buy its own shares and rid itself of the recalcitrant shareholders that foiled the last sale.
I don't for one second believe that the management of QF is buying the shares back for the long-term benefit of the company or its external shareholders.
The company does have good use for the $3billion on hand. Buy new aircraft instead of refurbishing 20+ year old 767's, and expand the network, or in the least, maintain the network it has and improve its service to those that are still loyal to QANTAS.
The above is just a snippet from Ben Sandilands article today, of the facts behind QANTAS's demise. Not a bad product or snippy staff. A PREMIUM AIRLINE run down to the status of a discount airline, by a discount airline CEO and mining Chairman.
I heard the news this morning, and I feel the company is buying its own shares so that it can offload them to a "preferred buyer", namely an equity company with the major shareholders being Dixon and Singleton. They are still hovering around the company, and what better way to push the sale through to privatise the company than to buy its own shares and rid itself of the recalcitrant shareholders that foiled the last sale.
I don't for one second believe that the management of QF is buying the shares back for the long-term benefit of the company or its external shareholders.
The company does have good use for the $3billion on hand. Buy new aircraft instead of refurbishing 20+ year old 767's, and expand the network, or in the least, maintain the network it has and improve its service to those that are still loyal to QANTAS.
There are no doubt many arguments to be had as to who is the most to blame for this. But cutting through all of the fawning apologies that get generated in the general media and from ‘analysts’ the bottom line is that Qantas is appallingly badly managed.
Shareholders who have been burned by the worst chairman and most incompetent CEO ever foisted on Qantas shareholders have nothing to celebrate either from being locked in to a trashed share price, or an incredibly disappointing outlook.
Shareholders who have been burned by the worst chairman and most incompetent CEO ever foisted on Qantas shareholders have nothing to celebrate either from being locked in to a trashed share price, or an incredibly disappointing outlook.
Last edited by QF94; 14th Nov 2012 at 23:42.
Join Date: Dec 2011
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The investor,customer,workers,unions,are all sick with this management ,just look at the people running this airline,but nothing is being done,u talk to any shareholders they are sick with qf,u talk to employees they are fad up with this management,public watch the news about qantas all bad news,what is wrong with this board
I read this share buy back as management not understanding why the whole market thinks their farts smell like **** when the management 'team' at Qantas think they smell of roses.
They don't understand that QAN is tarnished with the stain of the current management crop and what they have done decimating, de-investing the actual core business that employs them.
The share price won't rise naturally because no one believes them, of which the market is the best indicator, so they cheat by buying back shares. The cynic in me would think this might have something to do with executive performance plans and share price related bonuses.
They don't understand that QAN is tarnished with the stain of the current management crop and what they have done decimating, de-investing the actual core business that employs them.
The share price won't rise naturally because no one believes them, of which the market is the best indicator, so they cheat by buying back shares. The cynic in me would think this might have something to do with executive performance plans and share price related bonuses.
1 thing to remember. The board has set goals which have a Short Term Incentive Program effect.
One of those is the
'Execution of the transformation agenda in Maintenance and Catering'
Which in other words means to hurry up and get rid of them.
Even if the place is going to fall apart after 30% of Sydney are gone, that's not the concern. The board has set this direction. There is money riding on it.
One of those is the
'Execution of the transformation agenda in Maintenance and Catering'
Which in other words means to hurry up and get rid of them.
Even if the place is going to fall apart after 30% of Sydney are gone, that's not the concern. The board has set this direction. There is money riding on it.
Join Date: Dec 2007
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Qf94 I remember back in 2005 at the SIT when we lost the SQ contract, 20 people made redundant , they picked mostly supervisors & acting DMM's on Division 1 super most of them were mid 50's ,although that was different management back then.
Most didn't want to go,but just about all of them walked away with well over $1 m in super + redundancy payout.
Who knows what's in store this time around
I feel sorry for the younger guys around 30-40 years old,maybe better to ditch a/c engineering and learn new trade
I heard someone say that most of the positions in HM BNE are only AME positions ,so a drop in pay for a LAME to go there.
:suspe ct:
Most didn't want to go,but just about all of them walked away with well over $1 m in super + redundancy payout.
Who knows what's in store this time around
I feel sorry for the younger guys around 30-40 years old,maybe better to ditch a/c engineering and learn new trade
I heard someone say that most of the positions in HM BNE are only AME positions ,so a drop in pay for a LAME to go there.
:suspe ct:
Join Date: Dec 2011
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According to HR ther could be opening for LAME position in Bne,not sure how many and how many will apply and what are the criteria
Last edited by Bagus; 15th Nov 2012 at 00:52.
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stuntcock,
It may be a different management, but it's still the same agenda. They'll make the offer too good to refuse, and those that were thinking of retiring in five years, may just take the bait and go now, while there's still money in the bank.
Yes, it's a sad state of affairs, and I would certainly hate to be one of the young apprentices just about to come out of their time, or, just out of their time a few years. No hope or future for the young guys, or those in the middle with a single licence, mortgage, kids, etc, etc.
As I've said earlier, it's not just QANTAS. It's the whole workforce, and with an impotent government and business management the way they are, what hope does the workforce stand?
It may be a different management, but it's still the same agenda. They'll make the offer too good to refuse, and those that were thinking of retiring in five years, may just take the bait and go now, while there's still money in the bank.
Yes, it's a sad state of affairs, and I would certainly hate to be one of the young apprentices just about to come out of their time, or, just out of their time a few years. No hope or future for the young guys, or those in the middle with a single licence, mortgage, kids, etc, etc.
As I've said earlier, it's not just QANTAS. It's the whole workforce, and with an impotent government and business management the way they are, what hope does the workforce stand?
Join Date: May 2011
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I personally think it's a numbers game, RP stated that it was his decision and his alone to get rid of 19 lames and 40 ames, if he was given a budget to get rid of, i feel more lames would have their neck on the chopping block also managers still have to run what's left of the business after the dust has died down, so in my opinion they will have a very good idea of how many and what licenced people they require irrespective what age or what division super they are in. I reckon 767 and 747 single licenced lames would be in danger, 747ER may save some but i bet my right testicle that they also look at sickies etc.so they have what they think is enough trained people to keep going until the next round.
If the idea ofmthe major shareholders is to take the company private, then Bad management is part of the price reduction strategy,
Furthermore, buy backs normally come after a healthy dividend stream.
,,,and the share price should rise 4% after the buy back..
...and if it doesn't the company is now 4% cheaper to acquire.
..and why should the price increase in the absence of a dividend? You can't do a comparison against other forms of investment if there is no return
Sorry, a share buy back makes no sense. if there is money for it, then spend it on dividends.
Shareholders would be dumb to sell.
Furthermore, buy backs normally come after a healthy dividend stream.
,,,and the share price should rise 4% after the buy back..
...and if it doesn't the company is now 4% cheaper to acquire.
..and why should the price increase in the absence of a dividend? You can't do a comparison against other forms of investment if there is no return
Sorry, a share buy back makes no sense. if there is money for it, then spend it on dividends.
Shareholders would be dumb to sell.
Last edited by Sunfish; 15th Nov 2012 at 01:25.
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@buggerme,
If RP stated that, then AJ is a great CEO. I can't recall ANY manager below the level of Strambi, actually having any say at all. The numbers are given to them, and then they will make a small decision as to who goes. A numbers game it is. The lower the number of employees and skilled workers, the bigger the number of $$$$$ are paid to the big wigs.
Be prepared for another round of staff reductions in March 2013. Then engineering will be unviable to run as it is (internationally anyway) and be wound up, together with heavy cutting of the international routes.
@Sunfish,
I have been banging on about this management and the road they're driving on for quite a while now. The promise of dividends being paid back to the investor at the last AGM, and now the talk of a buy back of shares, smacks of a private equity sell off at a guaranteed low price for Dixon and Singleton. They're Australian with Australian based companies, so the sale will sail through with flying colours.
RP stated that it was his decision and his alone to get rid of 19 lames and 40 ames
Be prepared for another round of staff reductions in March 2013. Then engineering will be unviable to run as it is (internationally anyway) and be wound up, together with heavy cutting of the international routes.
@Sunfish,
If the idea ofmthe major shareholders is to take the company private, then Bad management is part of the price reduction strategy,
Furthermore, buy backs normally come after a healthy dividend stream.
Furthermore, buy backs normally come after a healthy dividend stream.
Join Date: Feb 2007
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Originally Posted by sunfish
Sorry, a share buy back makes no sense. if there is money for it, then spend it on dividends.
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Stuntcock
In 2005 at SIT the 20 redundancies were actually 100% voluntary (called compulsory). We couldn't get our paperwork in quick enough. The reason a lot of the guys that went were MS and DMM's was most were group 1 and therefore got a very handsome pile of cash. Even a lot of us in group 2 got some nice coin.
I'm pretty sure that the couple of rounds of redundancies in the following years were voluntary.
Pretty sad when so much loyalty, experience and dedication walks out the door by their own choice.
Qf94 I remember back in 2005 at the SIT when we lost the SQ contract, 20 people made redundant , they picked mostly supervisors & acting DMM's on Division 1 super most of them were mid 50's ,although that was different management back then.
Most didn't want to go,but just about all of them walked away with well over $1 m in super + redundancy payout.
Most didn't want to go,but just about all of them walked away with well over $1 m in super + redundancy payout.
I'm pretty sure that the couple of rounds of redundancies in the following years were voluntary.
Pretty sad when so much loyalty, experience and dedication walks out the door by their own choice.
Join Date: Nov 2007
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I agree this is only the first wave of cuts.. They say they are playing catch up of fleet retirements. With another 10 or so 744's to be retired by next year and 767's to go with in 3 years , the expansion of MOD, route cuts, growth of Jetstar etc, they are bluffing us...
There are going to be thousands displaced across the company.
Don't think for a moment that if u survive this round that u will dodge the axe next round... Everytime the music stops, there will be 30 percent less chairs..
There are going to be thousands displaced across the company.
Don't think for a moment that if u survive this round that u will dodge the axe next round... Everytime the music stops, there will be 30 percent less chairs..
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Just remember, in 2019 the hangars are bulldozed in sydney, so if base engineering is wiped out there will be no need to pay for expensive new hangars on the shore of Botany Bay. Sydney will just be another line station. A380 A chks done in LA and Dubai A330 in Bne and per? 744ER's gone.
CR criteria, Boeing, over 45, div 1 or 2, bye.....
CR criteria, Boeing, over 45, div 1 or 2, bye.....
Last edited by Short_Circuit; 15th Nov 2012 at 03:24.
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I believe the share buyback is a cheaper means of trying to save face as the board can't afford to pay dividends. This seemed to be a very serious issue at the AGM.