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4 Corners 29 Jun 2020 Aviation

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4 Corners 29 Jun 2020 Aviation

Old 29th Jun 2020, 22:57
  #21 (permalink)  
 
Join Date: Jul 2006
Location: australia
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Originally Posted by Sunfish View Post
Story pulled by ABC?
Donít think so, just watched it on Iview - this was at 292155.
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Old 29th Jun 2020, 23:38
  #22 (permalink)  
 
Join Date: Feb 2010
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Ex- Minister John Sharp

John Sharpís claim that he privatised the airports just shows again what the Nationals think of aviation in Australia🤦‍♂️
The worst decision ever made and the real effects are about to be felt with any new start up trying to deal with greedy ALCs and letís not forget ASA.
Good grief!
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Old 30th Jun 2020, 00:17
  #23 (permalink)  
 
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Liz Bryan certainly displayed that she didn’t understand that the Board has to provide oversight of the CEO to ensure that the business is run in a sustainable manner - throwing JB under a bus is an attempt to cover up her own shortcomings.

The Qantas board isn’t any better, if someone takes Joyce to task over any issue, he spits the dummy and walks out - meeting adjourned.
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Old 30th Jun 2020, 00:22
  #24 (permalink)  
 
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I always thought that pretty much any board actually approves financial expenditure, albeit usually at the CEO/MD request/plan. Is that not correct?
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Old 30th Jun 2020, 00:23
  #25 (permalink)  
 
Join Date: Sep 2019
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Bryan only trying to cover her own backside considering Jayne may potentially replace her in the Chairpersons role.
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Old 30th Jun 2020, 00:23
  #26 (permalink)  
 
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Amazed me they interviewed EB who clearly stated the need to move on CEO's at times, JB says he remained another 3 years at "the board request".

No follow up to EB as to why he remained (as he claims) another three years at the board request....or was JB lying?

Seemed an obvious question to me as conflicting statements from the players.

Cheers



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Old 30th Jun 2020, 00:57
  #27 (permalink)  
 
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Interesting that the Chairperson absolved herself from the outcomes of the companies strategy. One of the primary duties of the board is to ensure that its enterprise is heading in the right direction (Tricker 2019). If strategy has been devolved to the CEO and executive, as is common with boards consisting predominantly of non executive directors, then the board should be approving the strategy proposals. Ultimately they are called directors because they set the organisationís direction. If they donít know this one would have to question why they were on the board.
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Old 30th Jun 2020, 00:58
  #28 (permalink)  
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I think it is pretty obvious who is not telling the truth here. It is not like the board didn’t know JB was still getting a pay cheque....

Last edited by ozbiggles; 30th Jun 2020 at 03:35.
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Old 30th Jun 2020, 01:11
  #29 (permalink)  
 
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JB appointed JT in late 2016 with the express purpose of stepping down and handing the reigns over to JT, JT would have needed probably 18 months under his belt before then so that would peg JB's ideal retirement in early-mid 2018, and even after JT was fired, JB announced in something like late 2018 his intention to retire in mid-2019, so he was moving in that direction for some time. I think EB is just trying to make herself look good so that she can pick up more board appointments.
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Old 30th Jun 2020, 01:53
  #30 (permalink)  
 
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You only have to look at the banking fiascos in this country to see how much responsibility board members take.

Money for old rope, and a great gravy train to be on (if one of your friends can get you on).
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Old 30th Jun 2020, 02:11
  #31 (permalink)  
 
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Originally Posted by MelbourneFlyer View Post
JB appointed JT in late 2016 with the express purpose of stepping down and handing the reigns over to JT, JT would have needed probably 18 months under his belt before then so that would peg JB's ideal retirement in early-mid 2018, and even after JT was fired, JB announced in something like late 2018 his intention to retire in mid-2019, so he was moving in that direction for some time. I think EB is just trying to make herself look good so that she can pick up more board appointments.
Fair enough, I sort of forgot about the planned JT succession, suppose when that falls apart you have to keep the old until you find the "new" new CEO.
Thanks.
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Old 30th Jun 2020, 02:27
  #32 (permalink)  
 
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Head in the sand

ANZ CEO Luxon told the Board and EB in no uncertain terms that JB was running the place into the ground in 2017. The Chair and the Board went with JB, and ANZ exited. To now say that the board had no idea that the CEO was running a poor business, including 5 years of losses is chutzpah on steroids

Interesting to see what happens to their collective Directors insurance premiums, this year
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Old 30th Jun 2020, 03:06
  #33 (permalink)  
 
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JB would have been out years ago if he was a CEO. As a Director, it was impossible for the Board to have the conversation about getting rid of him, nor take steps to hire a replacement, without his consent. Managers should NOT be Board members.
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Old 30th Jun 2020, 04:03
  #34 (permalink)  
 
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Did anyone not notice that when EB was interviewed is stated 'Former VA Chair'? When did she leave?
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Old 30th Jun 2020, 04:26
  #35 (permalink)  
 
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I would suspect there may be some unsecured bondholders who'll be looking very closely at the performance of the Virgin board over the last 5 yearsÖÖ
It's one thing to lose your investment but entirely another if there's some suggestion of negligence.
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Old 30th Jun 2020, 04:27
  #36 (permalink)  
 
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Originally Posted by timbo1 View Post
ANZ CEO Luxon told the Board and EB in no uncertain terms that JB was running the place into the ground in 2017. The Chair and the Board went with JB, and ANZ exited. To now say that the board had no idea that the CEO was running a poor business, including 5 years of losses is chutzpah on steroids

Interesting to see what happens to their collective Directors insurance premiums, this year
Absolutely correct. Now look at the make-up of the Board. Who really new what running an airline was all about? Maybe the guy from Singapore and that's all. EB is a total disgrace who loved the limelight and title but knows sweet fanny adams about running a company let alone a complex business like Virgin...
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Old 30th Jun 2020, 04:42
  #37 (permalink)  
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I’m not sure the board exists anymore does it? They don’t deserve to if they do still exist. I don’t think there are to many fans of Jayne out there but the current board haven’t achieved anything in 10 years.
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Old 30th Jun 2020, 08:43
  #38 (permalink)  
 
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The Rex part of the story could have been an episode on its own. McCormack really had no answers to defend the treatment give to Rex.

While Borghetti was rightfully thrown under the bus, Bryan really came across poorly. Takes no responsibility but if the plan was a success, she would have taken a lot of credit
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Old 30th Jun 2020, 08:59
  #39 (permalink)  
 
Join Date: Jun 2007
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Thumbs down

On her performance last night you would not let her run a choko vine over the sh#t house, and she is the Chair??
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Old 30th Jun 2020, 09:04
  #40 (permalink)  
 
Join Date: May 2016
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Originally Posted by ozbiggles View Post
Iím not sure the board exists anymore does it?
It doesn't. Voluntary administration means that the Board is dismissed and its duties are assumed by the Administrator. New owner, new board.
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