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4 Corners 29 Jun 2020 Aviation

Australia, New Zealand & the Pacific Airline and RPT Rumours & News in Australia, enZed and the Pacific

4 Corners 29 Jun 2020 Aviation

Old 1st Jul 2020, 12:30
  #81 (permalink)  
 
Join Date: Aug 2004
Location: Melbourne, Australia
Posts: 8,417
Blackout, the number of people with the skills and experience to be a director of a public company are limited. Then there is the little matter that Directors are not hired, they are voted by shareholders.

If I am a big superannuation fund, invested in multiple companies, I will have a “stable” of reliable proven directors that I am happy will protect my interests. That is why you see multiple directorships. I say again, Directors are not hired, they are appointed. they are not employees.
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Old 1st Jul 2020, 12:38
  #82 (permalink)  
 
Join Date: Aug 2004
Location: Melbourne, Australia
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Lookleft, for some reason I am trying to prevent professional pilots from making fools of themselves when talking about business. I do this in return for this website preventing me from making a fool of myself when flying. I am merely trying to give something back in return for the sage advice from the pilots here.
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Old 1st Jul 2020, 13:29
  #83 (permalink)  
 
Join Date: Feb 2005
Location: Bolivia
Posts: 434
There was a good interview with JB a few years back. He was presenting to a forum at Sydney uni I think. Anyway, at one point he went on to speak with great pride how his father used to challenge him to sell a specific dish to customers in his restaurant when he was a boy. Usually the steak because it was the most expensive. JB spoke with great pride about the lessons he learnt about selling people something they didn’t really want. And that really is all you need to know about JB, In his own words, he’s pretty much just a salesman, and a damn good one. So good he managed to con multiple major airlines into tipping billions into a loss making business, he conned his board into believing he knew what he was doing, for a period he conned his employees as well, and he definitely conned the media during his tenure. Only one person called him out and that was Chris Luxon, when all the time he was just an upstart mailboy with some sales experience. He used to take great pride in telling anyone that would listen that he only had high school education. He truly was an imposter, that pulled the wool,over everyone’s eyes for 10 years.
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Old 1st Jul 2020, 14:03
  #84 (permalink)  
 
Join Date: Dec 2006
Location: australia
Posts: 746
Originally Posted by Section28- BE View Post
Ta- 'Bullwinkle'.....

rgds- S28
As annoys a hell lot of people (self included) would you please tell us WHY you type in (being generous) riddles, being more honest typing out and out crap??

Used to think was a keyboard problem, now wondering if actually a hardwired brain problem??

If you think it's cute fair enough - but I'll tend to ignore from past experience....and I'd be disappointed to miss out on something that would actually make me think/consider.

Thanks, cheers





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Old 1st Jul 2020, 14:12
  #85 (permalink)  
Thread Starter
 
Join Date: Dec 2000
Location: Australia
Posts: 861
It is an acquired taste Galdian, but it is different to the usual so I say let him play!
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Old 1st Jul 2020, 14:18
  #86 (permalink)  
 
Join Date: Sep 2001
Location: Oz
Posts: 53
[QUOTE=Vorsicht;10826336]There was a good interview with JB a few years back. He was presenting to a forum at Sydney uni I think. Anyway, at one point he went on to speak with great pride how his father used to challenge him to sell a specific dish to customers in his restaurant when he was a boy. Usually the steak because it was the most expensive. JB spoke with great pride about the lessons he learnt about selling people something they didnít really want. And that really is all you need to know about JB, In his own words, heís pretty much just a salesman, and a damn good one. So good he managed to con multiple major airlines into tipping billions into a loss making business, he conned his board into believing he knew what he was doing, for a period he conned his employees as well, and he definitely conned the media during his tenure. Only one person called him out and that was Chris Luxon, when all the time he was just an upstart mailboy with some sales experience. He used to take great pride in telling anyone that would listen that he only had high school education. He truly was an imposter, that pulled the wool,over everyoneís eyes for 10 years.[/QUOTE

interview happens to be sponsored by Deloitte in 2013
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Old 1st Jul 2020, 14:19
  #87 (permalink)  
 
Join Date: Dec 2006
Location: australia
Posts: 746
Originally Posted by ozbiggles View Post
It is an acquired taste Galdian, but it is different to the usual so I say let him play!
He can play to his hearts content, I'm happy to hear and consider whatever he wishes (like us all) to pontificate.

Just too much static/crap around what he's saying - so can't be bothered reading.

Maybe it's just me!
Cheers
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Old 1st Jul 2020, 14:27
  #88 (permalink)  
 
Join Date: Aug 2002
Location: there
Posts: 730
Section 28- BE seems to type in the manner that a pontificating geriatric English public school [email protected] who has just consumed 3 bottles of Wine would speak, i.e. drunken stream of nonsense.

But that's just my take.
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Old 1st Jul 2020, 14:52
  #89 (permalink)  
 
Join Date: Feb 2001
Posts: 214
Thumbs up

Originally Posted by galdian View Post
As annoys a hell lot of people (self included) would you please tell us WHY you type in (being generous) riddles, being more honest typing out and out crap??

Used to think was a keyboard problem, now wondering if actually a hardwired brain problem??

If you think it's cute fair enough - but I'll tend to ignore from past experience....and I'd be disappointed to miss out on something that would actually make me think/consider.

Thanks, cheers
Section28's a unique individual and that should be admired in todays society. The posts are cerebrally stimulating and quite refreshing, especially from some of the narcissistic diatribe posted on here.

Basically what S28 was saying:

S28 wasn't going to say much, because S28 was afraid it might offend some people. S28's question was in relation to the conduct of the Board RE: Legal Obligations/Compliance and, if there could be a case for 'Misconduct' to be put forward to the Court by the Creditors.

Happy to interpret

Last edited by Blackout; 1st Jul 2020 at 17:20.
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Old 1st Jul 2020, 22:46
  #90 (permalink)  
 
Join Date: Sep 2002
Location: Australia
Posts: 749
Originally Posted by Blackout View Post
Section28's a unique individual and that should be admired in todays society. The posts are cerebrally stimulating and quite refreshing, especially from some of the narcissistic diatribe posted on here.

Basically what S28 was saying:

S28 wasn't going to say much, because S28 was afraid it might offend some people. S28's question was in relation to the conduct of the Board RE: Legal Obligations/Compliance and, if there could be a case for 'Misconduct' to be put forward to the Court by the Creditors.

Happy to interpret
Thank you! The interpretation is truly appreciated.


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Old 2nd Jul 2020, 03:50
  #91 (permalink)  
 
Join Date: Aug 2018
Location: Somewhere
Posts: 130
The Board didnít have the guts to bone borghetti because they couldnít without a fight. Borghetti was a Director. He had a right to full information on everything and authority to attend and vote at all meetings. He had shareholder backing which is why he was on the Board. He was an effing Director, NOT an employee of the company. To remove him if he didnít want to go would have required the Board to lobby the shareholders, get the votes to requisition a special general meeting, call for nominations, probably for all positions and get the shareholder to vote JB down. The name for that is a #$#@ fight and it would have has to be done in the full glare of publicity which wouldnít do morale or revenue much good either.
Isn't that why you are paid the big bucks as a member of the board to have those fights? In reality it's all water under the bridge anyway as the major shareholders wanted Borghetti hence the Air NZ departure and the failed attempted to have Borghetti moved on earlier.
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Old 2nd Jul 2020, 04:56
  #92 (permalink)  
 
Join Date: Aug 2004
Location: Melbourne, Australia
Posts: 8,417
non -state Actor, true. The buck really does stop with the directors. They have to deal with whatever comes up. A public fight over Borghetti would have stuffed the company share price anyway. Fights like that are very rare because of the damage they do. That is why you need to be extremely careful of what you are getting into when you are offered a Board seat and be ready to vote with your feet if you donít like whatís going on. Only one guy from the ANZ had the brains to see where this was heading and the balls to leave.

EB and the rest are wishing they never heard of the airline because there are few excuses for what happened in my opinion. Borghetti should never have been a Director.

My Board beat the crap out of me on a number of occasions in the process of educating me about what my job was and how itís different from their job. Pity no one taught EB the same lesson.
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Old 2nd Jul 2020, 06:39
  #93 (permalink)  
 
Join Date: May 2002
Location: The Best Place!
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A claimed to be former CEO who had the crap beaten out of them by the Board, and now has over 8000 posts on an anonymous bulletin board.

Yeah, that's pretty funny.
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Old 2nd Jul 2020, 07:13
  #94 (permalink)  
 
Join Date: Aug 2004
Location: Melbourne, Australia
Posts: 8,417
I’m retired. You amuse me.
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Old 2nd Jul 2020, 07:56
  #95 (permalink)  
 
Join Date: Jul 2007
Location: Australia
Age: 70
Posts: 1,375
Fair comment though, what was the business you were CEO of ?
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Old 2nd Jul 2020, 09:43
  #96 (permalink)  
 
Join Date: Dec 2007
Location: Australia
Posts: 31
Pyramid Building Society.
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Old 2nd Jul 2020, 11:24
  #97 (permalink)  
 
Join Date: Aug 2002
Location: there
Posts: 730
Sunfish started with HIH then One.Tel finally burying Dick Smith.
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Old 2nd Jul 2020, 11:43
  #98 (permalink)  
 
Join Date: Sep 2002
Location: Australia
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Originally Posted by Sunfish View Post
A public fight over Borghetti would have stuffed the company share price anyway.
Phew, lucky they didnít do that then!!!
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Old 2nd Jul 2020, 11:49
  #99 (permalink)  
 
Join Date: Aug 2004
Location: Melbourne, Australia
Posts: 8,417
Bull wink le, sadly yes.
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Old 3rd Jul 2020, 12:28
  #100 (permalink)  
 
Join Date: Sep 2019
Location: NSW
Posts: 25
Originally Posted by TBM-Legend View Post
Rumour on the legal street is that the Board and Scurrah are being lined up over the November bond raising for misleading and deceptive conduct over the financial representations they made to investors. The real situation of the accounts was not properly disclosed. Watch this space...
If this turns out to be true, then no wonder Virgin was not bailed out by the government, that would be condoning and rewarding bad behaviour. The only reason that it has been found out was because of COVID-19, they would have got away with it otherwise. However, if Virgin ended up completely bankrupt then why would the government bail out QANTAS when at that point they would effectively have no serious competition. It would make sense to me that the only viable option remaining option would be to help REX out a bit in order to prevent QANTAS from securing a monopoly rather than letting Virgin get away with misleading and deceptive conduct.
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