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Qantas stand down 20,000 employees till end of May

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Qantas stand down 20,000 employees till end of May

Old 19th Mar 2020, 01:35
  #21 (permalink)  
 
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Some people in the finance industry are tipping that 20% of the total residential loans could default in Australia. When will a run on the banks start. France and Italy could be in a civil war, or massive civil unrest within 6 weeks.
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Old 19th Mar 2020, 01:54
  #22 (permalink)  
 
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Coordinated world response:

- Russia, China Europe and of course the USA, agree to bury the hatchet.

- Removal of sanctions on Russia, China, Iran, Syria, Cuba and Venezuela (that means telling the Israeli Government to ##@$ off and grow up.)

- Truce between India and Pakistan.

- Bring all troops home from Syria, Iraq, Afghanistan, Europe and Asia.

- restart national and international infrastructure projects OBOR, Bering Straits bridge, Nordstream II, Mediterranean oil and gas, etc., etc.

- concerted International health efforts (already happening with researchers from day 1 - 31 Dec 2019.

- concerted IMF, BIS, world bank, ECB and national banks to provide liquidity and underwrite non performing loans.

_
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Old 19th Mar 2020, 01:55
  #23 (permalink)  
 
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From the media release,

More than 150 aircraft will be temporarily grounded, including all of Qantas’ A380s, 747s and B787-9s and Jetstar’s B787-8s. Discussions are progressing with.....
But what of Fifi and her sisters?
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Old 19th Mar 2020, 01:58
  #24 (permalink)  
 
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What do you expect, society is built like a house of cards. We have next to no resilience. Most of us are mortgaged up to our eyeballs, merely a few pay cheques from bankruptcy. Great, isn't it?

If this isn't a wake up call that we need to change our ways, I don't know what is. Even when this is over, there will be another just around the corner.
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Old 19th Mar 2020, 03:10
  #25 (permalink)  
 
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Originally Posted by directimped
What do you expect, society is built like a house of cards. We have next to no resilience. Most of us are mortgaged up to our eyeballs, merely a few pay cheques from bankruptcy. Great, isn't it?
Events of Sunday the 15th of August 1971 set in motion the debt train wreck that was always going to happen. The only problem was identifying the date of the accident with any accuracy.

Notice how the amount of debt (credits = money to the counterparty) outstripped production from not long after that date. We have lived in a debt as money world since 1971, the outcome was inevitable. We were ALL forced to play the game.


Source: https://web.archive.org/web/20130518...nflation-5.JPG
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Old 19th Mar 2020, 03:16
  #26 (permalink)  
 
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Originally Posted by Guptar View Post
Some people in the finance industry are tipping that 20% of the total residential loans could default in Australia. When will a run on the banks start. France and Italy could be in a civil war, or massive civil unrest within 6 weeks.
I bet you’re one of these idiots buying 400 rolls of toilet paper.
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Old 19th Mar 2020, 03:35
  #27 (permalink)  
 
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Network , Cobham - business as usual?
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Old 19th Mar 2020, 03:40
  #28 (permalink)  
 
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I wouldn’t be too worried about Qantas, all the directors took the option of swapping income for shares last week, just before they started making these announcements and asking the government for a bailout. Check out QAN on the ASX, all of the notices are there, made on 3 March
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Old 19th Mar 2020, 03:49
  #29 (permalink)  
 
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Originally Posted by CurtainTwitcher View Post
Events of Sunday the 15th of August 1971 set in motion the debt train wreck that was always going to happen. The only problem was identifying the date of the accident with any accuracy.

Notice how the amount of debt (credits = money to the counterparty) outstripped production from not long after that date. We have lived in a debt as money world since 1971, the outcome was inevitable. We were ALL forced to play the game.


Source: https://web.archive.org/web/20130518...nflation-5.JPG
Finally, someone I can relate to who isn’t inside the matrix! Spot on, Nixon and his puppet masters pulled a stunt that ultimately would force most people away from the one thing the Fed can’t ‘fake’ - gold. Everything since then has been ‘fake’ wealth - printed money, paper bonds, algorithms on a PC. They don’t want gold as a currency because they can’t fully control it, manipulate it, fake it and so on. Metals are actually real. Sadly, the chickens have come home to roost. Interestingly when you study economics and finance you see a historical pattern where we have a ‘reset’ roughly every 40 years. The match on the current Ponzi scheme was lit in 1971 and its now a full blown inferno. COVID-19 is the straw that finally broke the camels back. The worlds economies have been failing/propped up/failing for years. Think about it - negative interest rates, quantitative easing (printing money), or even worse - digital money backed by nothing and printed on nothing. Fake money. The more they print the greater the eventual collapse. It has helped to destroy the middle class and cause inflation that is so high that you need to earn $150k per year upwards just to have a moderately comfortable existence. The 2008 GFC was the ‘precursor bubble’ - banks, financial institutions and corporations went bust. The big bubble, the real bubble has started to burst - bankrupt countries and we’ve already seen Greece, Spain, Portugal as examples. Now the only remaining and supposedly strong fiscal country Germany is deep in the crap, along with the UK and USA. The USA has a confirmed debt of $23 trillion with real estimates of up to $300 trillion. It was never going to last.

Hold onto your hats, this shit is about to get real.

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Old 19th Mar 2020, 03:49
  #30 (permalink)  
 
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Originally Posted by blow.n.gasket View Post
I wonder what the rumoured “ unprecedented “ announcement President Trump is going to make on April 1 that will remain in place until April 10th and how it will effect the rest of the World’s global market ?
Probably nothing.

Cos a) Trump couldn’t keep quiet about anything that long.

b) the world has moved on from US dominance

In relation to this issue I’d be more concerned about what Beijing is doing. Whether we like it or not Australia’s recovery from this recession will be because of our links with Beijing not Washington DC, despite how we feel about China at the moment.
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Old 19th Mar 2020, 04:33
  #31 (permalink)  
 
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Originally Posted by ShandywithSugar View Post
Network , Cobham - business as usual?
Closed charter operators aren't affected; only RPT
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Old 19th Mar 2020, 04:35
  #32 (permalink)  
 
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Of the 20 000 employees that Qantas are letting go, I wonder how many are middle or senior level management...
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Old 19th Mar 2020, 05:19
  #33 (permalink)  
 
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Originally Posted by VH DSJ View Post
Closed charter operators aren't affected; only RPT
If only they did Charter. RPT -> KG BRM LEA GEL KTA PHE DRW ASP NWN for Network alone. Ever wondered why those in the west kick up a stink?



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Old 19th Mar 2020, 05:54
  #34 (permalink)  
 
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One wonders if all 20,000 will be reemployed and all 20,000 will want to come back.

I guess I'm saying that this is the opportunity to downsize in the short and medium term. Will there ever be 30,000 employed by QF ever again?
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Old 19th Mar 2020, 06:41
  #35 (permalink)  
 
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Originally Posted by outnabout View Post
Of the 20 000 employees that Qantas are letting go, I wonder how many are middle or senior level management...
We're not being 'let go', we're being stood down. Its not the same. We all remain employees of Qantas.

If this drags on for longer than the company has money however, that may change.
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Old 19th Mar 2020, 07:19
  #36 (permalink)  
 
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Sill Question, I know, but is that stood down without pay? Are there retainers or insurances that kick in?
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Old 19th Mar 2020, 07:36
  #37 (permalink)  
 
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Stood down without pay, however we're able to use annual leave to make up the difference. If you have less than a certain threshold, you're able to go into negative 4 weeks annual leave.

After that, you're on your own. They are rotating duties at JQ at least, apparently based on seniority. So one month you'll work, then next month another group will work. Etc.
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Old 19th Mar 2020, 08:40
  #38 (permalink)  
 
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Where’s John Andersen when he’s needed?
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Old 19th Mar 2020, 08:59
  #39 (permalink)  
 
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Coles are hiring 5000 Casuals, I understand Woolworths is putting its vacancies to anyone in the QF Group wishing to assist with the crazy demand seeing at Woolworths and Bigw etc. More on that next week apparently

I guess this will suit some, example Ground Crew or a Cabin Crew would earn similar to the Woolies casual rate. 20 odd hours a week would help put food on the table, paying the rent or whatever.
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Old 19th Mar 2020, 09:02
  #40 (permalink)  

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Originally Posted by f1yhigh View Post
What about the cargo flights using pax aircraft?
Plenty of twins around that can do that and be cheaper too.
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