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MERGED: Alan's still not happy......

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MERGED: Alan's still not happy......

Old 28th Aug 2015, 08:54
  #5441 (permalink)  
 
Join Date: Apr 2011
Location: Melbourne
Posts: 165
I think he's happy again...


Alan Joyce gets $9.8 million bonus in $11.8 million salary at Qantas
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Old 28th Aug 2015, 09:33
  #5442 (permalink)  
 
Join Date: Nov 2006
Location: Sydney
Posts: 159
BOOM

Alan is sitting on his balcony tonight sipping Appletinis, smiling at his partner as he exclaims "I love it when a plan comes together"

The little bastard and his mates on the board have played everyone off a break.

Choke on it Al.
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Old 28th Aug 2015, 09:37
  #5443 (permalink)  
 
Join Date: Feb 2011
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$4000 an hour
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Old 28th Aug 2015, 09:43
  #5444 (permalink)  
 
Join Date: Aug 2007
Location: sydney
Posts: 948
It defies belief that the clown is worth that sort of money. Nothing to do with the transformation program and everything to do with good luck. Certainly won't make the staff respect him. I just wish he would POQ.

Last edited by dragon man; 28th Aug 2015 at 09:44. Reason: Spelling
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Old 28th Aug 2015, 09:57
  #5445 (permalink)  
 
Join Date: Sep 2010
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The Art of Conjury

Now don't get me wrong: I appreciate the coming bonus of 5% of my base salary*, in light of the pay freeze I reluctantly signed up to for the good of the company. My bonus will be about $5,000. My salary is middle of the road relative to my colleagues. It is reported that the staff bonus will cost the company $90 million. I don't think anyone can deny the generosity*.
* Subject to approval at the AGM.

But when compared to the rumours of the $50,000 bonuses the ops managers (an essentially redundant and unnecessary layer of management in Engineering) have received, and the CEO's bonus of $9.8 BLOODY MILLION it bloody-well PALES in comparison!
AJ's bonus I can understand: conflate a non-existent crisis, convince the media of its veracity, explore the boundaries of truthfulness in a Senate inquiry, create an enormous paper loss with one huge write-down after failing to reguarly review the value of the assets... etc etc etc. He's had a proper pash of the blarney stone and for such a monumental hoodwinking of government, regulator and media he probably come close to deserving every cent.

But how can this company justify a managerial bonus 10 times greater than tht of the people they manage? Has anyone actually measured what they add to the business to justify such a bonus?

Now, let's extrapolate from the lowest of the low level of management up to the CEO, counting up every single person in the org structure with "manager" in their title. It's a headcount that comes to thousands. Then apply a bonus that one must assume gets multiple times bigger than the level below it.

What do we think the sum total of those bonuses are?

I'm sure they'll be structured in such a way that they can be buried in the Annual Report to not reflect their true cost to the company.

Absolutely shameless.
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Old 28th Aug 2015, 11:26
  #5446 (permalink)  
 
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You'd think with that kind of cash he could afford a good dentist!
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Old 28th Aug 2015, 15:04
  #5447 (permalink)  
 
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You'd think with that kind of cash he could afford a good dentist!
It is not about money, it is about control. You can control millions and billions here and there with the nod of your head or wink of an eye or entry on a spreadsheet; exhilarating!. But you can can go to dentist after dentist and be told the cost to fix your teeth is $xx and it doesn't matter who the hell you are, that's what it costs. That is not control! that's why you have bad teeth!
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Old 28th Aug 2015, 15:21
  #5448 (permalink)  
 
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Also, it has been shown that CEO's display significant psychopathic tendencies. It's not like, great I've got a payrise, i can now take my family on a holiday. It's more like proving yourself, money only boosts what you think OTHERS will think of you, you probably have no real idea of the true value of your salary. Look at what most billionaires do, they get some nice toys, but they don't generally retire to enjoy the toys to the fullest, they work and work; power and power. It becomes all about the control and power and the money is the fuel, not the reward.

It's bizarre!
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Old 28th Aug 2015, 15:29
  #5449 (permalink)  
 
Join Date: Jun 2005
Location: Australia
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Rumour I have heard (from an exec mate) is most at the exec level are getting a 20% bonus ... that's a minimum of $22,000 bonus each.

Feel sorry for those who signed up for a pay freeze.

Would be nice if everyone tripled their salary like Joyce.

A sad indictment of what has become of the corporate world in Australia .
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Old 29th Aug 2015, 08:29
  #5450 (permalink)  
 
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From terminal decline a year ago to splashing cash around like confetti now, it just doesn't make sense. QF still has a shitload of debt and it should be paying it down to the max and investing in aircraft and infrastructure while the oil price is low for a couple of years. I know they payed down some but if I was an investor I would be looking for sustained profits. It seems weird to me. It's such a Boys club these CEOs it makes me sick....
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Old 29th Aug 2015, 10:29
  #5451 (permalink)  
 
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Beats me why he is paid on the high point, I would have thought it should be measured on the totality of his reign. Isn't it convenient how everyone forgets last year and prior disasters. Suggest we give him the money, get rid of him and move to hopefully a better future than the past.
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Old 29th Aug 2015, 12:08
  #5452 (permalink)  
 
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So the several million dollars he is trying to screw out of a contractor is to secure the survival of QF then? Unbelievable cowardice and greed would be an understatement. There are people out there with families and mortgages etc. currently under extreme duress to give away their rights to ensure their job security and this guy gives himself a pat on the back. Words cannot describe!
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Old 29th Aug 2015, 12:23
  #5453 (permalink)  
 
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Originally Posted by Blitzkrieger View Post
So the several million dollars he is trying to screw out of a contractor is to secure the survival of QF then? Unbelievable cowardice and greed would be an understatement. There are people out there with families and mortgages etc. currently under extreme duress to give away their rights to ensure their job security and this guy gives himself a pat on the back. Words cannot describe!
The only positive I can put on it is that he will be valuing his remuneration in $US terms. I'm sorry I can't do more to help
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Old 30th Aug 2015, 13:36
  #5454 (permalink)  
 
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The request for a government bailout is the minor detail that suggests the Qantas CEO never really had a plan.

If he takes the credit for the so called "turn-around" then he really is a fool.
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Old 30th Aug 2015, 23:26
  #5455 (permalink)  
 
Join Date: Sep 2013
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I wouldn't be surprise to find the the plan was to screw the government at the same time as he was screwing his staff and suppliers. Oh well, two out of three ain't bad, and it has certainly paid off for him personally.
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Old 31st Aug 2015, 02:14
  #5456 (permalink)  
 
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Dear Alan
I naively hoped the savings achieved in agreeing to the recently concluded EA would have contributed to the growth of the airline but apparently not.

As you now have pocketed those funds I do hope you spend it responsibly and with a little more thought than has been shown to those staff who you agree have been pivotal in helping Qantas take a few steps on the road to at least a resembling the once great airline we were.

Enjoy the cash,
C-441.
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Old 31st Aug 2015, 02:31
  #5457 (permalink)  
 
Join Date: Nov 2007
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Well said.


How disgusting it is, especially with layers of management trying to justify this disgraceful greediness to the employees.


They will get their just deserts in time.
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Old 31st Aug 2015, 04:31
  #5458 (permalink)  
 
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In Alan's defence, the pay looks pretty huge, but company shares make up about 9 million of it, and they were bought at less than a dollar a share.

So really it's a 3 million dollar bonus that grew a little.

I suppose that's the corporate world for you. Just like when people whinge about pilot salaries or the like, I tell them they are welcome to become pilots and enjoy the benefits too. So I suppose staff can always get the required qualifications and become executive management if they make it.

Remember not many get there and it's a short career at the top in many cases.
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Old 31st Aug 2015, 04:32
  #5459 (permalink)  
 
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Mmmmm and not too many people that have a direct effect on the share price like he does..........
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Old 2nd Sep 2015, 09:39
  #5460 (permalink)  
 
Join Date: Aug 2007
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We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.
Part 1 - Change of director’s relevant interests in securities
In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust
Note: In the case of a company, interests which come within paragraph (i) of the definition of “notifiable interest of a director” should be disclosed in this part.
Name of entity QANTAS AIRWAYS LIMITED
ABN 16 009 661 901
Name of Director

Alan Joseph Joyce
Date of last notice

24 October 2014
Direct or indirect interest

Direct and Indirect

Nature of indirect interest
(including registered holder)
Note: Provide details of the circumstances giving rise to the relevant interest.

Indirect interests in Qantas ordinary shares held by Pacific Custodians Pty Limited as trustee (Trustee) of the Employee Share Plan (ESP) Trust (Restricted Shares). The Restricted Shares are held on behalf of Mr Joyce in the ESP Trust.

Date of change
1. 21 August 2015 (relating to the 2013-2015 Long Term Incentive Plan (LTIP))
2. 21 August 2015 (relating to the 2012/13 Short Term Incentive Plan (STIP))
3. 28 August 2015 (relating to the 2014/15 STIP)
No. of securities held prior to change

Nil direct interest
3,190,971 indirect interest (total held in the ESP Trust and the Alan Joyce Family Trust)
Class

Ordinary shares

Number acquired
1. 2,188,750 direct interest 2. 284,769 direct interest 3. 274,826 indirect interest
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