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Bain: Virgin Australia needs to be more like Virgin Blue

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Bain: Virgin Australia needs to be more like Virgin Blue

Old 2nd Jun 2020, 09:42
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Ex ABC- A2 Milk's ousting of high-flying female CEO Jayne Hrdlicka leaves a lot.....

Indeed-

Ex: the 'said' article posted:

"Among other things, they were displeased with the $19 million in consultancy fees she forked out to her former employer, Bain and Co."
'Big Hit' for Less Than a 24 month term (am, given to understand) of engagement/employment ......?????, 'one' may- 'form' a similar/that same view!!!!

Nearly, Up there- with 'the Sharpie' level/altitude of Shake, Rattle and Roll.....

Rgds all
S28- BE

Last edited by Section28- BE; 2nd Jun 2020 at 10:20. Reason: 'Research'- A2: July 18 til 16 Dec 2019-ish: that correct???
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Old 2nd Jun 2020, 10:35
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I'm not sure if Joyce would laugh or be concerned about her being involved, considering how well she knows Jetstar.
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Old 2nd Jun 2020, 10:41
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I may be wrong about Bain. I'm too pessimistic. They may do a decent job. They do have some aviation expertise. One possibility is that they already have a cashed up partner wanting to invest.

What is the story with JH? What was she like to work for? Arrogant? Only talked to "special" people? Did she push good people out? Other stuff? ...Or was she just driven to succeed? She is a card carrying member of the old girls network and that carries some weight these days. You virgins may yet get a happy ending to this mess.
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Old 2nd Jun 2020, 10:45
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Thatís the funniest thing I have read in a long time. She knew nothing about Jetstar. She didnít understand why the staff werenít engaged, she didnít understand the HK regulatory system and while the staff did more for less she was working 9-5. The proof of her lack of knowledge was inserting a CP who had been excluded from the shortlist by the recruiting company hired to find a suitable candidate ( how much did that cost). Jetstar is fortunate that the current CP is dealing with the current crisis. No Jetstar will have nothing to worry about if Madam Chang takes the reigns of whatever and if ever a viable airline emerges out of the current mess.
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Old 2nd Jun 2020, 21:23
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LOOKLEFT - Spot on.

All I can say to the guys and gals at Virgin is good luck if Carla gets her hands on the wheel. Most importantly, you'll have a job, but you'll also be in for quite a ride. Just watch the "consultancy" fees being extracted by Bain from Virgin. As opposed to A2 Milk, which questioned these fees, Bain itself will own the company, so wholesale transfer of funds will proceed without a problem. They'll bleed the company dry yet again and as is stated elsewhere, flog the carcass by way of a carefully orchestrated public float to recapitalise it, and then move on to the next victim.

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Old 2nd Jun 2020, 22:47
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Originally Posted by Lookleft View Post
Thatís the funniest thing I have read in a long time. She knew nothing about Jetstar. She didnít understand why the staff werenít engaged, she didnít understand the HK regulatory system and while the staff did more for less she was working 9-5. The proof of her lack of knowledge was inserting a CP who had been excluded from the shortlist by the recruiting company hired to find a suitable candidate ( how much did that cost). Jetstar is fortunate that the current CP is dealing with the current crisis. No Jetstar will have nothing to worry about if Madam Chang takes the reigns of whatever and if ever a viable airline emerges out of the current mess.
Maybe splitting hairs, did she "not understand why the staff weren't engaged" or simply didn't care or even a problem too big to tackle - certainly during her limited working hours!
She may be inserted as a manager, is there anyone out there who would be seen as a manager AND a leader??

Would seem perfect opportunity IF there's a VA2 to find better leaders rather than just re-use rusted on managers - if any leaders can be found, now THAT may be the question.
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Old 2nd Jun 2020, 23:14
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did she "not understand why the staff weren't engaged" or simply didn't care or even a problem too big to tackle
Good point galdian. The second part of your statement follows on from the first. She couldn't understand why the staff of a relatively new company were not more excited and enthusiastic but her solution was to not care about it and just go about her self-promotion agenda. what she didn't understand was that a lot of the staff had worked for other airlines and were not buying into the corporate hoopla (even the ex-Impulse staff were not enthusiastic, as they preferred being branded QantasLink) and the young marketing and aviation graduates were just using Jetstar as a foot in the door to go to a better paying job, usually at Qantas.
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Old 3rd Jun 2020, 03:18
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Sounds like she is the perfect fit for The Village.
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Old 3rd Jun 2020, 09:18
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May/May-NOT be of Interest, to you All at this time....

'Dr Google's' research Department, would 'offer' the following:

'Linkedin' link here: https://au.linkedin.com/in/jaynedrdlicka

'Wikipedia' link here: https://en.wikipedia.org/wiki/Jayne_Hrdlicka

More, 'Marketing' than Input/Operational Cost understanding- or Not...............?????, Anyhoo.....!!!!

Rgds
S28- BE
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Old 3rd Jun 2020, 09:27
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Sounds like she is the perfect fit for The Village.
Problem is that she only works 9 til 3 (but I guess that would fit in OK in The Village), plus does she live in Brisbane? If not she'll have to work from home.
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Old 3rd Jun 2020, 09:41
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The HQ will be wherever she lives. I donít believe that is Brisbane. Sounds like she will have control over the airline group from a Chair position so what Carla wants Carla gets.

She he will have nobody above her to challenge her for once.


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Old 3rd Jun 2020, 10:03
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As Chairperson of Tennis Australia, she has to be in Melbourne for at least a few weeks of January of each year. What are the odds of taking up any Vic Govt incentives to move the whole box and dice south?
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Old 3rd Jun 2020, 10:08
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She he will have nobody above her to challenge her for once.
You mean other than a board, oh and shareholders, oh and the passengers who vote with their feet.
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Old 3rd Jun 2020, 12:19
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Boards donít do jack these days. They give full reign to most executives running the joint.

Especially those who held prominent roles in the industry.
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Old 3rd Jun 2020, 16:53
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The Boards job is to hire and fire the CEO and protect the assets. It is not easy to do it properly, no matter what you may think.
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Old 3rd Jun 2020, 22:45
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Carla won't be drawn like Borghetti into a fight to the death with the Qantas group. He had a very personal agenda stemming from the appointment of Alan Joyce.

No, Carla will be 150% focused on stripping Virgin of cash and getting these funds back to Bain. As said elsewhere, when the time is right, the company will be re-floated to get funds back into it and Bain will exit.

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Old 3rd Jun 2020, 23:17
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Originally Posted by wheels_down View Post
The HQ will be wherever she lives. I donít believe that is Brisbane. Sounds like she will have control over the airline group from a Chair position so what Carla wants Carla gets.

She he will have nobody above her to challenge her for once.
Spot on! The Bain Capital bid included an immediate $500m injection to cover short term redundancies and opex until Dec/Jan. Included further, was $500m contributed from Mel Apt and Vic govt which would include moving the HQ to MEL and leased land with purpose built facility in the short term (sponsored by Vic Govt + Aus Govt).

The forensics at KPMG have described the state of the VA books as something not even Bondy could compile.This is aligned with the affidavit Strawberry and Deloitte indicated that "they couldn't understand it". Which means, no accountability, no accounting standards or practices AND the icing in the cake, the claim of $1b in the bank from Scuz meant nothing... when time came it wasn't there. Thanks for the great advice Keith, I guess your screaming match was correct.

As for next steps, darling Carla will be Chairwoman, with the current C-suite wiped. Group Executive will be old Strambi (already had a few dins over the topic)...

For your anti-Carla remarks, I suspect you're more worried out of a personal gain if anything. The Business hasn't operated like as such since 2006, with limited foresight and no ROI in projects/routes/staff while the L3 managers and below continued to add complexity to processes and procedures. You should consider her resume and experience to the saviour of the Business, a Business that will make money. No one liked the tough decisions, but they need to be made. Those that remain will stay in and look back (among trusted company) and think, yeah she's alright. (Besides, Scuz was about to do the same, he just didn't pull back the curtains on his man cave in Alpha Ground... instead it was decorated with his little handbag Mehaff's with buzz words from TedTalks.... right-o).
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Old 3rd Jun 2020, 23:18
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Dale, there is also a suggestion coming out of the union movement and also from Barnaby Joyce, that the bidders might already have a buyer lined up and may just “flip” the company to a third party of perhaps dubious provenance. For this reason Barnaby is suggesting the Sydney gate slots and possibly terminal space need to be ring fenced to avoid crowding out of other potential airline users.

This situation at least in Barnabys mind, is potentially akin to the Murray Darling disaster where Chinese and other purely financial speculators with no interest in agriculture have purchased and control large quantities of water rights, to the detriment of genuine irrigators.
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Old 4th Jun 2020, 01:36
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Originally Posted by didrechambers77 View Post
​​​​​​... Group Executive will be old Strambi (already had a few dins over the topic)...
They could do a lot worse than having Lyell Strambi run the show. Of course the Lyell - Carla - Bain connection goes all the way back to Ansett when he was running the Business Recovery Program under Rod Eddington.
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Old 4th Jun 2020, 03:10
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Yeah thats all the new airline needs is another CEO who was looked over for the top job at QF. You don't think he will try and take on QF in the premium market as he will learn from JB's mistakes? He has been running Melbourne Airport and we all know how well that operates with the constant delays, endless laxiway closures and indecision on a new runway. It does make sense though his comment on Melbourne radio that Melbourne hasn't had a domestic airline with its HQ in Melbourne since Ansett collapsed. Obviously he doesn't consider Jetstar to be a domestic airline and thinks if you don't talk about it then it will go away. Sorry Lyell but Jetstar will be your competition if the cluster that is the VA administration gets real.
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