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Pandemic-hit Qantas weighs new pay structure to keep key executives

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Pandemic-hit Qantas weighs new pay structure to keep key executives

Old 18th Sep 2021, 03:20
  #21 (permalink)  
 
Join Date: Dec 2006
Location: australia
Posts: 856
If you really think you know better and the management of the company is a disaster, then short the stock and post the confirmation for all to see. Think of the killing you'd make! Maybe we could stuff and mount you outside the ASX headquarters as the first pilot to make a successful market call? [/QUOTE]

Hey I'll pay that one, very funny, made me laugh.
Cheers.


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Old 18th Sep 2021, 04:52
  #22 (permalink)  
 
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Well, Joyce got what he wanted and he got a pay-rise. These clowns don’t work for free. Million dollar salaries, stock options, sign-on payments, retention payments, and of course bonuses. So even without a ‘bonus’ there are plenty of ways to fill up the CEO’s wallet. And don’t forget, this bloke has earned around $100m in salary and share options since his tenure began at QF. So even if he worked for the next 5 years for free, he doesn’t have to worry about paying his next Telstra bill.
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Old 18th Sep 2021, 05:00
  #23 (permalink)  
 
Join Date: Jul 2009
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Originally Posted by Telfer86 View Post
Very Australian at "Exec" level - or whatever it is called here
Aussie execs highest paid in the world & running relatively small entities
They are just copy/paste a line that banks were using to justify a few years back "lock in the exec talent"
- our people are such legends they will go elsewhere as such mega legend talent is always be sought after
Anyone believe a word of it ?
Got very similar in Uni sector with VCs at our top Unis earning twice/three their Canadian counterparts , whose Unis ranked UBD, UT ranked way higher (in 20s/30s)
Think RMIT VC was pulling 1.5 mill - ranking of 200 or more like 250 at best worldwide, UBC(ranked 30) guy was on 0.6
$4 million bonus , that is about a bonus of $1mill for every 1 Billion lost , the QF staff should ask to see his contract - answer - "get back in your box you pleb"
Correct.

I remember when James Strong was pulling in millions plus bonuses every year, the CEO of American Airlines Inc., at that time it was the largest airline in the world (then slipped and now is again) and he was drawing a salary of $600K USD - AA never went into Chapter 11 until well after 9/11 but had prided itself on not relying on bankruptcy laws. Previous AA CEOs earned similar pay (sure, they got shares as well but in terms of base salary they were way under James Strong, the bloke who started the multi-million $$ CEO pay train at QF).

Execs often point to the dimensions of a job - well, QF had about 300 aircraft in total at the time, American had multiple types of aircraft and just one of them - the MD90 series, they had 290 of!!!! I seem to remember they had something like 110 767s too, nearly a 1000 airframes and 6000 flights a day. Wouldn't that make the AA CEOs pay, based on QF's, be somewhere around $10M????

Of course, it's not just Qantas. Remember Telstra brought in that moron from the US who had a string of destroyed companies in his wake as CEO elsewhere in North America???? He nearly destroyed Telstra, with one respected veteran Australian businessman resigning from their Board in disgust.

When the idiot resigned and went back to the US, one of the newspapers had a headline "adios amigo" as a result of which he said we were all racist.

No one with the balls in this country to have said in reply "Well, if you think that 'amigo', you won't want to take all that money from we racists so hand it back pal."
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Old 18th Sep 2021, 05:03
  #24 (permalink)  
 
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Originally Posted by Paragraph377 View Post
Well, Joyce got what he wanted and he got a pay-rise. These clowns donít work for free. Million dollar salaries, stock options, sign-on payments, retention payments, and of course bonuses. So even without a Ďbonusí there are plenty of ways to fill up the CEOís wallet. And donít forget, this bloke has earned around $100m in salary and share options since his tenure began at QF. So even if he worked for the next 5 years for free, he doesnít have to worry about paying his next Telstra bill.
Earned????
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Old 18th Sep 2021, 07:08
  #25 (permalink)  
 
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The QANTAS executive deserve to be rewarded, they have done a fantastic job decimating our national icon.
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Old 18th Sep 2021, 08:44
  #26 (permalink)  
Man Bilong Balus long PNG
 
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decimating
What? Cutting it by one tenth??

You mean (almost) destroying, don'tcha?
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Old 18th Sep 2021, 10:50
  #27 (permalink)  
 
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I was asked once why we had to import Americans to do Executive jobs in the Airlines and the answer is that smart Australian Exec's were in the Mining game particularly the Iron Ore game in the 2000's->2010's. Why would you work for 700K when you can work for 3Mill. Simple really. Outside the audience here the Execs' are not interested in Airlines.
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Old 20th Sep 2021, 11:17
  #28 (permalink)  
 
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this bloke has earned around $100m
Earned or been paid?, two entirely different things indeed
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Old 20th Sep 2021, 13:04
  #29 (permalink)  
 
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Irrespective of what you think of Joyce, Gissing, Goyder or anyone else in the exec club, the shareholders love them!

check out the net asset backing of Qantas Shares vs the market cap. Despite more debt, departing talent, a weary workforce, its market cap is close to pre-pandemic levels.

Until those buying shares with OUR MONEY and lining their and the clubs pockets are truly held to account, nothing will change.
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Old 20th Sep 2021, 22:56
  #30 (permalink)  
 
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Originally Posted by Fliegenmong View Post
Earned or been paid?, two entirely different things indeed
Very good point. I will pay that one. 😃
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Old 20th Sep 2021, 23:27
  #31 (permalink)  
 
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It was pointed out to me a while ago by someone far smarter than I - do not blame Joyce.

The QF Board would either negotiate the pay structure for their newly - to - be - anointed leader, at the very least they would have to sign off on any negotiated package.

I think the package is obscene and appears structured in a way to encourage manipulation (if one was so inclined) - ask the board why they signed off on such a package.
galdian is offline  
Old 21st Sep 2021, 03:14
  #32 (permalink)  
 
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If the airline makes profits, executives get huge bonuses. If it makes losses through their incompetence they are replaced and given a generous exit package. If the losses are outside their control they get bonuses for working in challenging times.

Back in the 1960s, CEO pay was typically 15 times that of the average employee, now it’s approaching 300 times. Executive pay needs to be benchmarked at a more realistic level.
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Old 21st Sep 2021, 03:59
  #33 (permalink)  
 
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Originally Posted by krismiler View Post
If the airline makes profits, executives get huge bonuses. If it makes losses through their incompetence they are replaced and given a generous exit package. If the losses are outside their control they get bonuses for working in challenging times.

Back in the 1960s, CEO pay was typically 15 times that of the average employee, now itís approaching 300 times. Executive pay needs to be benchmarked at a more realistic level.
Whilst those that decide the pay, benefit by those decisions, nothing will change.
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Old 21st Sep 2021, 05:43
  #34 (permalink)  
 
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The issue is that there is no real competition at higher levels. It's all jobs for mates and making sure everyone covers everyone else back. Having a proper competitive adversarial process at the upper levels and picking the 'best' candidate would apply some downward pressure to executive salaries and result in better run companies with lower executive pay.
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Old 24th Sep 2021, 05:25
  #35 (permalink)  
 
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Could those on here defending QF management and their "packages" please explain to me the following:
APA bid.
Red Q.
The Lockout.
Jetstar Asia
Jetstar Pacific
Jetstar Japan
Share Buyback.
And let's not forget Jetstar HK.
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Old 24th Sep 2021, 08:19
  #36 (permalink)  
 
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Originally Posted by Street garbage View Post
Could those on here defending QF management and their "packages" please explain to me the following:
APA bid.
Red Q.
The Lockout.
Jetstar Asia
Jetstar Pacific
Jetstar Japan
Share Buyback.
And let's not forget Jetstar HK.
And the court decision relating to the ramp staff being terminated in favour of contractors,still no final decision but there certainly werent any glowing comments made about management by the judge.
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Old 24th Sep 2021, 13:58
  #37 (permalink)  
 
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Originally Posted by Street garbage View Post
Could those on here defending QF management and their "packages" please explain to me the following:
APA bid.
Red Q.
The Lockout.
Jetstar Asia
Jetstar Pacific
Jetstar Japan
Share Buyback.
And let's not forget Jetstar HK.
ok, Iím the last one to defend management, but arenít we getting a bit sanctimonious here?

so when a pilot stuffs up itís not their fault, but when a manager takes a risk and fails they should be shot?

when was the last time a pilot in VA or QF group was sacked for a screw up?

cam we say the same for managers?
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Old 24th Sep 2021, 21:08
  #38 (permalink)  
 
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Originally Posted by Arthur D View Post
ok, Iím the last one to defend management, but arenít we getting a bit sanctimonious here?

so when a pilot stuffs up itís not their fault, but when a manager takes a risk and fails they should be shot?

when was the last time a pilot in VA or QF group was sacked for a screw up?

cam we say the same for managers?
You are missing some key info.

The pilot generally keeps their job if they screw up AND own up. Donít come clean or accept responsibility and itís off to Truck Masters.

Canít remember the last time a manager admitted to their failings/poor decision making in the examples given previously.

Last edited by Green.Dot; 24th Sep 2021 at 21:54.
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Old 28th Sep 2021, 10:48
  #39 (permalink)  
 
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From https://www.smh.com.au/national/qant...27-p58v7l.html

members of the airlineís ultra-exclusive ultra-secretive invitation-only premium membership tier received letters advising them that their memberships would not be renewed.
Oh the inhumanity...
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Old 29th Sep 2021, 03:17
  #40 (permalink)  
 
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TBH, you need your executives on the good money, we may all think it’s over paid but you need to attract the smartest minds. Imagine if our fed politicians were paid double, would we attract smarter ppl to the roles?!
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