Gregg, Dixon, Carnegie, Singo make a play on QF

[dragon man]

"At Qantas we are not looking to recreate the past. We are not dwelling on earlier times. The world has moved on and we are busy taking care of today's business, looking after Qantas interests and advancing our strategy for all of our stakeholders and for all of our shareholders

Read more: Joyce uses Tourism Australia as weapon to foil plotters

What is Joyce smoking? Must be some good s**t!!!

[Mstr Caution]

and advancing our strategy for all of our stakeholders

Unless, of course your an employee or customer stakeholder.

In which case he's either happy to lock you out, make you redundant or ground you.

[DirectAnywhere]

Ka.Boom, try about 60 million bucks from his remuneration at QF.

[clotted]

You assume that you could measure the success of Qantas by its annual dividend.

Wunwing,you misunderstand what I am saying. I was making the point that under government ownership the airline was starved of capital; any profits made (and they weren't that substantial) weren't allowed to be retained by the airline for capital usage or otherwise. They were paid to the government in all circumstances as a dividend.

[teresa green]

Hopefully not a sad end to a once magnificent airline. White collar crime possibly taking place right under the noses of the people and the govt. and nobody gives a ratz, only perhaps Xenophon. Once they get hold of it, (if they do) then I imagine they will break it up and sell it off, a airline that played such a large role in the development of this country and played such a big part in WW2, and now it all means nothing, just a vessel to make rich men richer. It would appear QF has two choices (1) to be destroyed slowly by the incompetence of Joyce and the board (2) To be sold off to the highest bidder (Dixon and friends), and then Dixon can then finish the job he started and got thwarted. A tragedy for the staff either way.

[theheadmaster]

TG, I don't often agree with you, however on this I do.

[QF94]

The Dixon led buy-out should be blocked. The current QANTAS board sacked, and the government take over what's left of QANTAS until it's stabilised (not that I trust this current Labor government can do anything properly as they are fighting for their own miserable existence).

Once it's stabilised, then QANTAS should have a board made up of QANTAS employees/middle management. i.e. the like of Borghetti. Those that have served in QANTAS for a number of years to grow the company and put it back where it once was. There are currently no QANTAS people driving QANTAS in the board or the next level of management. Not even in Engineering. No wonder we are stuffed!

I would suspend trading in QANTAS until this mess is sorted. No other way around it. If you can't trade, you can't have undesirables buying you out.

The company has enough cash on hand to keep it going and it's not paying dividends. Better to run on what you have, than to dry up any funds left and have some bunch of turds coming in to strip the company for their own benefit.

Hopefully Dixon departs this world without realising his dream to buy QANTAS and strip it, closely followed by Singleton and Harvey.

[1A_Please]

Geoffrey Thomas just appeared on Ten News saying it won't happen and given his record of accuracy I now assume it'll probably happen!!!

[Keg]

Once it's stabilised, then QANTAS should have a board made up of QANTAS employees/middle management.

I don't agree entirely with that. Group think material right there. It's always healthy to have a couple of people looking in from the outside and providing the 'outsiders' opinion. Of course, we've got group think now with all these people from the outside so it couldn't be worse than what they've been doing over the last couple of years. I think the problem is that if they're providing the 'outsiders opinion' (which I doubt), then they're certainly not being listened to.

Qantas is a corporate Columbia and Challenger but in slow motion. I only hope the loss of life is less than both of those disasters.

[TheWholeEnchilada]

QF Board Composition over time post float. Google each of the current board members along with the term "private equity". An (un)surprising number have connections to PE in one way or another.

[Qantas 787]

I don't get Pprune sometimes - the majority of you wanted Dixon gone and gave him every insulting nickname under the sun. Now Joyce is copping it and you want Dixon back in the fold?

More finger pointing should be made at the board, who have been largely unaccountable for many years.

[Going Boeing]

try about 60 million bucks from his remuneration at QF.

plus his share of the $140 million profit from the sale of the Aircraft Leasing firm that he was a major stakeholder in. Of course he won't be using any of his own money in trying to get control of Qantas.

Once it's stabilised, then QANTAS should have a board made up of QANTAS employees/middle management.

Unfortunately, all the knowledgeable managers have been punted by Joyce/Clifford as they were perceived to be "too close to the staff to be able to make the necessary hard decisions". They have been replaced by a bunch of "McDonalds managers" who know nothing about airlines but will blindly follow Joyce until Qantas collapses.

[ejectx3]

Finance guy on 2gb Ross just stated Qantas has 3 billion in cash and very little debt. Very little debt? I thought it had debt in the order of billions?

[neville_nobody]

Very little debt? I thought it had debt in the order of billions?

I think that was for aircraft which never arrived. So they have very little debt for now.......

[Sand dune Sam]

Ejectex3... Bahahaha.. Ansett had 2 billion in the bank prior to the collapse.. Or so Toomey told us.......

[TheWholeEnchilada]

gaamaero.com the website they never wanted you to see. Unfortunately they didn't understand the caching ability of the Internet Wayback Machine.

Collect the whole set in one convenient pdf file HERE.

Travel back in time to see the gaamaero.com captures such classics as:






and





and





and finally





Just look at the choice of aircraft they prefer, nice and generic:



Those 110 A320's on order just have to have a home!

[QF94]

I think the problem is that if they're providing the 'outsiders opinion' (which I doubt), then they're certainly not being listened to.

Now let's see.

Clifford - Mining guy. I see how that fits into airline thinking. Dig a hole, extract minerals and sell it.

Joyce - Involved in Ansett before it collapsed. Only ever run a LCC, and turning a premium carrier into a LCC.

Cosgrove - An Army grunt. Fire bullets and kill people. "General Cosgrove served in the Australian Army from 1965 including command of the International Forces in East Timor from 1999 until the International Forces were withdrawn in February 2000. He was the Chief of the Australian Defence Force from July 2002 until his retirement in July 2005."

Patricia Cross - Mrs Cross is a former Director of Wesfarmers Limited, Suncorp-Metway Limited and AMP Limited, Chairman of Qantas Superannuation Limited and Deputy Chairman of Victoria's Transport Accident Commission. She has served in honorary Government roles including the Australian Financial Centre Forum and the Financial Sector Advisory Council, as well as numerous charities.

Goodmanson - Mr Goodmanson is a Director of Rio Tinto plc and Rio Tinto Limited.
From 1999 to 2009 he was Executive Vice President and Chief Operating Officer of E.I. du Pont de Nemours and Company. Previous to this role, he was President and Chief Executive Officer of America West Airlines. Mr Goodmanson was also previously Senior Vice President of Operations for Frito-Lay Inc. and was a Principal at McKinsey & Company Inc. He spent 10 years in heavy civil engineering project management, principally in South East Asia.

Hounsell - Mr Hounsell is Chairman of PanAust Limited and a Director of Orica Limited, DuluxGroup Limited and Treasury Wine Estates Limited. He is also Chairman of Investec Global Aircraft Fund and a Director of Ingeus Limited.
Mr Hounsell was formerly a Director of Nufarm Limited and the Deputy Chairman of Mitchell Communication Group Limited. He was also a former Senior Partner of Ernst & Young, Chief Executive Officer and Country Managing Partner of Arthur Andersen and a Board Member of law firm Herbert Smith Freehills.

Meaney - Mr Meaney has extensive international experience in advisory and executive roles. He is a Director of moksha8 Pharmaceuticals, Inc and until recently he served as Chief Executive Officer of The Zuellig Group. Mr Meaney is a Member of the Asia Business Council and also serves as Trustee of Carnegie Mellon University and Rensselaer Polytechnic Institute.
Mr Meaney has had broad airline experience, having been the Managing Director and Chief Commercial Officer of Swiss International Airlines and Executive Vice President of South African Airways responsible for sales, alliances and network management.

Prior to these roles, Mr Meaney spent 11 years providing strategic advisory services at Genhro Management Consultancy, as the Founder and Managing Director, and as a Principal with Strategic Planning Associates.

Mr Meaney holds United States, Swiss and Irish citizenships.

Corine Namblard - Earlier, Ms Namblard spent 19 years with Banque Nationale de Paris, holding roles in foreign exchange, debt and equity capital markets, mergers and acquisitions, and project finance.

Ms Namblard has held numerous board positions in investee companies including South Australian-based Flinders Ports. Ms Namblard was also Chair of the Geneva-based United Nations PPP Alliance and a Transport Expert for the European Commission.

Ms Namblard holds French and Canadian citizenships.

Paul Rayner - From 2002 to 2008, Mr Rayner was Finance Director of British American Tobacco plc based in London. Mr Rayner joined Rothmans Holdings Limited in 1991 as its Chief Financial Officer and held other senior executive positions within the Group, including Chief Operating Officer of British American Tobacco Australasia Limited from 1999 to 2001.

Previously Mr Rayner worked for 17 years in various finance and project roles with General Electric, Rank Industries and the Elders IXL Group.

Strong - This is where the rot started. He is Chairman of Kathmandu Holdings Limited and the Organising Committee for the ICC Cricket World Cup 2015. He is also a member of the Nomura Australia Advisory Board and a Director of the Australian Grand Prix Corporation and the Sydney Writers' Festival.

Mr Strong was formerly the Chairman of Woolworths Limited and Insurance Australia Group Limited. He was also formerly a Director of IAG Finance (New Zealand) Limited, the Group Chief Executive of the DB Group in New Zealand, National Chairman of Partners of Corrs Chambers Westgarth and Chief Executive Officer of Australian Airlines from 1985 until 1989.

He has been admitted as a barrister and/or solicitor in various state jurisdictions in Australia.

Barbara Ward - Ms Ward is a Director of a number of Brookfield Multiplex Group companies and O'Connell Street Associates Pty Ltd and is on the Advisory Board of LEK Consulting. She is also a Director of Ausgrid, Endeavour Energy and Essential Energy.

She was formerly a Director of the Commonwealth Bank of Australia, Lion Nathan Limited, Brookfield Multiplex Limited, Allco Finance Group Limited, Rail Infrastructure Corporation and Delta Electricity. She was Chairman of Country Energy and NorthPower and a Board Member of Allens Arthur Robinson.

Ms Ward was Chief Executive Officer of Ansett Worldwide Aviation Services from 1993 to 1998. Before that, Ms Ward held various positions at TNT Limited, including General Manager Finance, and also served as a Senior Ministerial Adviser to The Hon PJ Keating.

I can see how all these people and their "qualifications" and outsiders opinions have been of great value to QANTAS over the years. Holding multiple nationalities, on boards of companies of no relevance to the airline industry (except maybe Meaney and Joyce, even though have been proven to be illiterate in carrying out their jobs).

Keg, you don't have to agree, but the proof is in the pudding. These outsiders are in positions they should not be in, and in no position to give orderly advice in how to run an airline. The problem is, that they are being listened to too much, and nobody dares to defy them, because they will be out of a job.

This is all too true in Australia. The powers that be believe they need outside "expertise" to run things locally. Both in government and business. How about having the balls to make your own decisions and not worry about importing someone elses problems to try and fix your own.

[Nulli Secundus]

There are possibly some good outcomes brewing here.

Its no secret Joyce doesn't mind escalating an issue as he's shown with last year's lock out. He won't be bullied by these thugs and therefore he arguably now has even more reason to get the share price up and rebuild the airline.

Its a huge move to suspend the relationship with TA & this doesn't help Dixon's aspirations.

Is he the guy to significantly resurrect the airline? Unlikely.
Could he boost the share price enough to make a takeover unviable? Very possibly.

Like so many others are saying here, if these 'rebels' do wrest control from the current board it won't be at all good for the airline or its staff. Let's face it, if these people really had what it takes to make (& keep) an airline great, they would have done it by now.

Don't let them get their grubby hands on Qantas.

[ALAEA Fed Sec]

Like so many others are saying here, if these 'rebels' do wrest control from the current board it won't be at all good for the airline or its staff. Let's face it, if these people really had what it takes to make (& keep) an airline great, they would have done it by now.

Don't agree. If Joyce and his sponsors stay, there will be no Qantas. They are sending it broke just like they did Ansett.

Dixon is Qantas. Joyce is Jetstar.

[Jethro Gibbs]

Dixon was Qantas. Joyce was Jetstar and Gerry Harvey will have anyone left working for nothing .