Time for a little 'perspective' Mr Joyce?

[Rated De]

Originally Posted by Popgun

This action clearly fails the Pub Test. AJ and his senior advisors have failed to accurately read the room here.

With several pilot EAs due for renegotiation in the near future, I suspect that this current senior management team will only bargain with a modicum of honesty if they have the threat of protected industrial action on the table.

It will be interesting to see whether the pilot groups and their union/s move for overwhelming no votes followed by the lodgement of a PIA application.

PG

Perhaps all of this is another circus of drama and subterfuge.
Rather like a dull soapy, airlines are a grind. Got to inject some drama.

Mr Joyce is ill suited to transforming anything other than airline CEO remuneration (for himself) so a bit of theatre and drama may distract to duplicitous main stream media for a bit.
That and a few more Chairman's lounge memberships and family upgrades..

For Mr Joyce to dig in retort to threats is high risk. His thinly veiled rage in the emailed response if accurate and legitimate exposes him. The numbers presented here show the reality of Qantas performance and the reward received for a very average performance. With growing income inequality in Australia this is not a good optic.No amount of advertising spend into mainstream print and electronic media will cover it.
The public haven't forgotten 29 October 2011. Canberra hasn't forgotten it and the staff most certainly haven't.

[downdata]

Originally Posted by T-Vasis

I don't think it is right to compare profit after tax as a measure of company performance on business in different jurisdictions, with different laws, and who are operating in different business cycles, and using non-statutory measures.

And in terms on Alan's renumeration; wasn't the spike a result of his LTIP vesting, which is part of his renumeration package, and linked to various metrics, which have been realised?

Which have been realised because he wasted billions buying back shares just to vesting those rights / options

[Rated De]

Originally Posted by downdata

Which have been realised because he wasted billions buying back shares just to vesting those rights / options

The Economist has called them “an addiction to corporate cocaine.” Reuters has called them “self-cannibalization.” The Financial Times has called them “an overwhelming conflict of interest.” In an article that won the HBR McKinsey Award for the best article of the year, Harvard Business Review has called them “stock price manipulation.” These influential journals make a powerful case that wholesale stock buybacks are a bad idea—bad economically, bad financially, bad socially, bad legally and bad morally.

https://www.forbes.com/sites/stevede.../#19f2ff323346


Qantas fleet metrics are horrible. Outgoing prehistoric Chair MR Leigh Clifford claimed it was the QSA 1992 preventing the re-equipment of the Qantas fleet So you need a new fleet Leigh? . Mr Roger Montgomery (Montgomery Funds Management) chimed in July 2018 and noted very correctly that:

Qantas has introduced just nine new aircraft or 3.7 per cent of groupseat capacity over the last three years and so a minimum of $1.4bn a year will be required to maintain a constant fleet age, with an additional $300m spend on the nonaircraft asset base making $1.7bn. That matches depreciation, but depreciation is based on historical costs so it is still probably undercooking how much is needed to keep the fleet fresh, new and competitive

How much Qantas spent on share buy backs is an interesting point. As we pointed out in the thread So you need a new fleet Leigh? Qantas share buy backs totals are around $1.75 billion, before including this year's self enrichment program. This equals the amount Mr Montgomery assesses Qantas still need to spend, just to keep the fleet age where it is.

There have been very few beneficiaries from the self interest driven neglect perpetrated on Qantas by Mr Clifford and his Baron robbers including Mr Joyce, other than a few insiders.
Peer reviewed Qantas performance is sub optimal, unless of course one includes CEO remuneration, what has been achieved there is indeed 'trans formative'

All a question of 'perspective' isn't it Mr Joyce?

[roger6]

I am not allowed to post a URL due not enough posts thus far but if you do a search - 'CEO of Japan Airlines takes the bus to work' you will see how a 'not greedy' CEO operates.

[Rated De]

https://www.cbsnews.com/news/japan-a...-exec-example/

Thanks roger6

There you go Mr Joyce, a little bit of perspective for you.

[73qanda]

It will not work if leaders treat themselves one way and employees another way," said Gary Kelly, the CEO of Southwest Airlines.

Nishimatsu says a CEO doesn't motivate by how many millions he makes, but by convincing employees you're all together in the same boat.

Thats one approach. A lot of companies take the exact opposite approach and it could be argued that both ways ‘work’ just for different people. I suspect that alienating your staff and using ‘divide and conquer ‘ works until the whole shooting match relies on people pulling together as a team to get through a difficult time. Joe Bloggs won’t commit, lay it on the line, and go the extra mile for an outfit that has consistently shafted him for the last decade.

[machtuk]

The western worlds way of doing business is thru personal decadence not for the good of many! Western world CEO's today are much like politicians, they 'seem' to be for the people on the outside but that just 'seems' to be the case, we all know different!
Few rich powerful people think beyond their own little world, sad really as we only get one shot at life, some leave a legacy for others to remember in a fond way, many leave an ugly legacy forever etched in the annuals of grubby business.

[Rated De]

Originally Posted by 73qanda

Thats one approach. A lot of companies take the exact opposite approach and it could be argued that both ways ‘work’ just for different people. I suspect that alienating your staff and using ‘divide and conquer ‘ works until the whole shooting match relies on people pulling together as a team to get through a difficult time. Joe Bloggs won’t commit, lay it on the line, and go the extra mile for an outfit that has consistently shafted him for the last decade.

With the IR system heavily skewed to the employer's favour, traditional means of non co operation are difficult to sanction. Days lost to strike action in FY 1718 are 16% of the figure they were in 1992. Whether that is a good or bad things is also a perspective.
What is abundantly clear is that organised labour has limited means at their disposal.

6321.0.55.001 - Industrial Disputes, Australia, Jun 2018

What labour does have is individual choice. Mr Joyce has not transformed anything other than his remuneration. What Mr Hood did is politely suggest that there is something wrong. A petulant, over the top response from a seriously over paid and under performing CEO can be quietly protested. Withdrawing co-operation from simply not answering a personal mobile telephone when not strictly contractually required, to all sorts of wonderfully creative ways employees can turn their back on the regime.

[blow.n.gasket]

How about a team of Union resourced “Angels” hitting the public social media domain, putting out there the real facts and figures rather than the “ fake news “ concocted Qantas spin aptly supported by their own sponsored team of
“Qantas Angels “ !
( led to believe the sub-continent angels live in the fishbowl down in the bowels of QCA . Would Mephistopheles be more apt ?)
Wasn’t Alan almost forced to fall on his sword after the lockout and the resultant damage done to his reputation due to public backlash and perception ?
Took a lot of Angel / pixy dust to turn that personality public perception catastrophe around !
Build the resources to battle the Qantas spin machine and influence directly the general public’s perception of the money grubbing ineptitude of senior Qantas management and I’m positive you will achieve far more in the way of targeted scalps rather than damaging the Company’s profitability through unsanctionable personal industrial action .
Build it and they will come (or go hopefully)!

[zanthrus]

Little Gay Al is doing it hard this year. Poor Diddums! My heart bleeds....not!