MERGED: Alan's still not happy......
James Packer is right.
He never said that it would have been better for the airline, just the shareholders at the time.
I sold all of my shares at $5.80 figuring that it was wildly over-priced at that level. From a novice investor point of view it was by far the best outcome for me as a shareholder. As an employee my skills aren't as portable as my capital so I get to watch the train wreck forever.
As an aside a more savvy friend bought at $5.75. I begged and cajoled him to get out since then...he finally capitulated at $1.25. While I wonder at the shareholders' behaviour knowing what I do I guess many of them are the old-fashioned buy-and-hold variety, expecting that the board and ASIC will vouchsafe their funds over time. Including my otherwise sharp friend.
He never said that it would have been better for the airline, just the shareholders at the time.
I sold all of my shares at $5.80 figuring that it was wildly over-priced at that level. From a novice investor point of view it was by far the best outcome for me as a shareholder. As an employee my skills aren't as portable as my capital so I get to watch the train wreck forever.
As an aside a more savvy friend bought at $5.75. I begged and cajoled him to get out since then...he finally capitulated at $1.25. While I wonder at the shareholders' behaviour knowing what I do I guess many of them are the old-fashioned buy-and-hold variety, expecting that the board and ASIC will vouchsafe their funds over time. Including my otherwise sharp friend.
I guess many of them are the old-fashioned buy-and-hold variety
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''History is going to show that, from a purely economic perspective, for the shareholders at the time, Margaret was 100 per cent right,'' he said. ''With the benefit of hindsight, and hindsight is easy, I think the bid would have been good for shareholders to take back then. Qantas is clearly a company not doing as well as it once was, and it is an important company for Australia.''
Truly tragic, and thankfully did not occur.
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In this interview at a trade show the Dubai based carrier’s Chief Commercial Officer Thierry Antinori says Qantas has given it more business class passengers, boosted yields, and more than offset pressure on its economy class sales.
(And how's that working out for you, Alan?)
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Clifford and Joyce are not going anywhere soon, at least three more years of BGA... God help us...
CLIFFORD: Alan Joyce 'Is Not Going Anywhere', Endorses Him For 3 More Years | Business Insider
CLIFFORD: Alan Joyce 'Is Not Going Anywhere', Endorses Him For 3 More Years | Business Insider
It looks like Alan Joyce will stay in the top job at Qantas for at least another three years, bringing his leadership of the troubled airline to nearly nine years.
Qantas Airways chairman Leigh Clifford told The Australian Financial Review that “He’s not going anywhere,” referring to Joyce’s future with the airline amid growing calls for the CEO to step down as the company attempts to stem its losses.
Clifford said he expects Joyce to continue leading the airline for at least the next three years to manage the newly unveiled $2 billion cost-cutting plan.
Qantas is axing 5000 jobs and hoping the federal parliament will loosen foreign ownership laws so the carrier can attract more capital investment to match rival Virgin Australia.
Read more here.
Qantas Airways chairman Leigh Clifford told The Australian Financial Review that “He’s not going anywhere,” referring to Joyce’s future with the airline amid growing calls for the CEO to step down as the company attempts to stem its losses.
Clifford said he expects Joyce to continue leading the airline for at least the next three years to manage the newly unveiled $2 billion cost-cutting plan.
Qantas is axing 5000 jobs and hoping the federal parliament will loosen foreign ownership laws so the carrier can attract more capital investment to match rival Virgin Australia.
Read more here.
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Fine for these guys to hold ranks but they have made a few enemies and have a few storm clouds coming their way via senate inquiry. I know that doesn't help those being targeted now but this game is far from over for aj and Clifford.”
I stated earlier in a post I didn't think it was an ideological war against staff.
I think I was wrong.
The tragedy is these morons and business failures who, by the grace of god, managed to get their hands on solid gold, did not recognise it as such.
I actually think they know they are doing the world a favour.
I just get more and more depressed about Qantas.
I can't explain in words how proud I was to first wear the uniform. Now it sits unloved in the wardrobe and if I never saw it again I don't think it would bother me.
I think I was wrong.
The tragedy is these morons and business failures who, by the grace of god, managed to get their hands on solid gold, did not recognise it as such.
I actually think they know they are doing the world a favour.
I just get more and more depressed about Qantas.
I can't explain in words how proud I was to first wear the uniform. Now it sits unloved in the wardrobe and if I never saw it again I don't think it would bother me.
Then the senate enquiry that puts them behind bars.
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You are joking ofcourse. I think you will find that as he says, Clifford and Joyce will be there in 3 years (assuming there is 3 years left) because the senate inquiry will find nothing because that would involve pollies admitting they were wrong to do nothing. A pollie admit he was wrong, you cant be serious.
I work for virgin also, but I seriously hope Joyce and Clifford expire ASAP, not only for my mates that work there, but for the sake of a sustainable industry..time for these guys to hug it out and get back to making money for their shareholders, we are fast becoming a joke.
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You are right. It will be a farce. A grandstanding opportunity for Pollies, the really pertinent questions won't be asked or answered and the sad comedy will roll on!
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All is Lost.
On the subject of a Union busting agenda, give some thought to
the following comments.
"In a meeting in February 2011, I offered Alan Joyce a two-year pay freeze and a commitment to rewrite our certified agreement.
This was rejected out of hand. It is an ideological war and Mr Joyce needed the pilots to be able to lock the staff out in 2011 at a cost of over $200 million. There is nothing wrong with industrial relations in Australia but there is a lot wrong with management"
ex AIPA President Barry Jackson AFR Friday 7 March14
And from today's AFR, Weekend 8-9 March 14.
"We have got to make sure we have more flexible working arrangements.
I think for instance the pilots' agreement is hundreds of pages long.
War and Peace wasn't that long, I don't think."
Qantas Chairman Leigh Clifford.
Ah, help me here Leigh, what was Barry offering you and Alan THREE years ago.
the following comments.
"In a meeting in February 2011, I offered Alan Joyce a two-year pay freeze and a commitment to rewrite our certified agreement.
This was rejected out of hand. It is an ideological war and Mr Joyce needed the pilots to be able to lock the staff out in 2011 at a cost of over $200 million. There is nothing wrong with industrial relations in Australia but there is a lot wrong with management"
ex AIPA President Barry Jackson AFR Friday 7 March14
And from today's AFR, Weekend 8-9 March 14.
"We have got to make sure we have more flexible working arrangements.
I think for instance the pilots' agreement is hundreds of pages long.
War and Peace wasn't that long, I don't think."
Qantas Chairman Leigh Clifford.
Ah, help me here Leigh, what was Barry offering you and Alan THREE years ago.
Last edited by Jackneville; 8th Mar 2014 at 09:46.
