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Joyce ‘retires’ early 👍

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Joyce ‘retires’ early 👍

Old 19th Sep 2023, 01:46
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Four Corners last night had a rerun of a program they first aired twelve months ago.

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Old 19th Sep 2023, 14:16
  #282 (permalink)  
 
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Originally Posted by Ken Borough
Aston is showing the signs of being a fixated person. It’s past time that he stopped dredging his sewer and thought about the impact his sludge has on the 20,000 boys and girls doing their utmost for the company and its customers.

On VH's super, how in earth did she know back in 1994 or whenever that she’d end up the CEO with a million dollar plus salary? There's a lot about Qantas that warrants critucism, but VH’s superannuation ain't one of them!
I think I speak on behalf of almost everyone on this forum when I say you are an idiot.

Let me guess, you work behind a desk? High on the koolaid?
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Old 19th Sep 2023, 21:47
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Goyder has become Joe’s next target I’d say.
Print articleRear Window

Richard Goyder’s last supper

Six weeks before the company’s AGM, members of the Qantas board are in more **** than a sewage farm duck.
Joe AstonColumnistUpdated Sep 19, 2023 – 9.55pm, first published at 8.00pm
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Like a typical Qantas flight, the airline’s annual report is running late without explanation. This document is expected to contain one final asterisk for Alan Joyce, where his colossal bonuses will seem to vanish only to be granted once they no longer have to be disclosed.
Just as illuminating, however, will be the company’s notice of annual general meeting.
Qantas directors are steeling themselves to face shareholders in Melbourne on November 3 and they are in more **** than a sewage farm duck. Under Richard Goyder’s five-year oversight, Qantas’ commitment to candour has been almost non-existent. Louie Douvis The High Court is now the third and final judicial authority to have ruled that Qantas illegally sacked 1700 ground handling staff in November 2020. The ensuing three years of legal truculence was fully endorsed by the Qantas board. Beyond the penalties to be imposed and the compensation to be paid, the moral self-injury is staggering.
Then there’s the Australian Competition and Consumer Commission’s deceptive-conduct lawsuit, alleging that Qantas sold tickets on more than 8000 flights it had already cancelled. The ACCC is seeking penalties of $250 million. It now turns out that Qantas chairman Richard Goyder personally authorised the sale of $17 million of Joyce’s Qantas shares on June 1, five weeks after Qantas received its second compulsory information notice about the ghost flights from the regulator.

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$5.450 -1.09%1 year1 daySep 22Mar 23Sep 234.9506.0507.150 Updated: Sep 19, 2023 – 11.41pm. Data is 20 mins delayed.
View QAN related articles This was Joyce selling 90 per cent of his Qantas shares at the absolute top of the market. Ninety per cent! Even if the ACCC investigation hadn’t yet “crystallised into legal action” (as Qantas puts it), why would any chairman allow his CEO to sell below the minimum shareholding requirement with this matter on foot and less than three months before he was due to receive another truckload of bonus shares? Why the urgency?
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You really have to wonder what Goyder was thinking. What has his judgment ever been based on beyond whatever Alan last said to him? He makes a compelling case for chronic incuriosity and mad optimism bias to be added to the NDIS.
This is what happens when someone captures you – they get the benefit of every doubt. Oh no, this is so fine, we’re very confident. Remember how “quietly confident” Qantas was about winning the High Court case? Except they weren’t really all that confident, because they’d made a provision they forgot to tell us about!
This is the same reckless confidence Goyder relied upon in the ACCC matter. “Don’t worry about it, Alan – happy to let you dump 90 per cent of your shares. Your desperation to buy your neighbour’s penthouse is my number one priority. Is there anything else I can do to help?”
There is widespread disbelief in the Australian investment community that Richard Goyder did this. Joyce had to have total knowledge he’d been running ghost flights and the ACCC’s compulsory information notices weren’t even a “come down to the station” – they were more like search warrants. Any reasonable person would’ve been a little worried.
Remember, Joyce (with his brother’s help) designed the algorithm for overbooking flights at Aer Lingus 30 years ago on the basis that a percentage of passengers never turn up. That’s how he made a name for himself at the start of his career, and he’s ended it the same way. He’s optimised revenue to the point where it’s now the planes that don’t show up for the flights. It’s a logical extension.
The Qantas board will also have to justify the revelation that new CEO Vanessa Hudson is effectively receiving even more off-risk remuneration than Joyce, courtesy of her defined benefit superannuation scheme. None of the details of her entitlements have been disclosed to Qantas shareholders. Either Goyder negotiated Hudson’s remuneration without understanding the multiplier effect of her defined benefit, or he knew and couldn’t be arsed disclosing it. Neither construction is flattering.
All of the above is to say nothing of the enormous consumer brand desolation Goyder and his board colleagues have enabled, and the 20 per cent decline in the Qantas share price since the day Joyce cashed out.
As the AGM draws near, shareholders are reserving their judgment until after Qantas’ annual report finally lands. However, November 3 still looms as their opportunity to cast deeply unimpressive directors off the Qantas board.
Four are up for re-election. The first two are new directors Heather Smith and Doug Parker, absolutely hallmark picks by Goyder. Smith, a blancmange public servant, is a direct switch for the utterly hopeless Michael L’Estrange. Parker is the former boss of American Airlines, perennial basket case of the major US carriers, operationally and financially inferior to Delta and United in almost every way. But we’re sure Doug’s a terrific guy, and that’s enough for Uncle Rich. Their wives probably get along famously!
The other two facing a shareholder vote are longstanding directors Todd Sampson and Belinda Hutchinson. Curiously, former Cathay Pacific boss Tony Tyler is not, even though he was elected alongside Sampson and Hutch (Starsky was unavailable) in 2021. When new directors last joined the board in 2018, Qantas put five directors up for election at that year’s AGM.
Sampson, Hutchinson and Tyler must have played a tearful game of rock paper scissors, drawing straws in the execution yard with Goyder refereeing in his Kevlar suit.
It’s like a macabre scene from Squid Games, and who is a more perfect contestant than Sampson? He walks on hot coals, sleeps on beds of nails and sets himself on fire, then packages it up for television. Todd Sampson in Siberia, for real. Long ago a marketing executive, Sampson was appointed to the Qantas board as a brand and reputation expert and has presided over arguably the greatest collapse in brand equity in the short history of corporate Australia. Voting him off will be the easiest decision institutional investors have ever made. In these circumstances, he is ready-made roadkill.
What is the Toddster even doing attempting to stay on? You were the brand guru, mate. At what point do you concede, “Yeah I didn’t really add value here, it’s time for me to fly”?
Sampson’s only plausible re-election pitch would be, “I’ve been saying for years that Alan’s lost the plot but Richard just wouldn’t listen” – in which case you’d elect him chairman tomorrow. His first move would be to put all cabin crew in tight T-shirts and they’d do a party pump at the Qantas gym before every flight.
Todd is a celebrity ornament who never should’ve been on a public company board. There is a lot more to overseeing a business as complex as Qantas than memorising glib lines. It requires judgment. Having said that, it is entirely unclear that Hutchinson, Maxine Brenner or Jacqueline Hey have been any more useful. You might just as well have filled their seats with torso mannequins.
Of course, Sampson is just an avatar for Goyder. We’re only talking about Sampson because Goyder is hiding. Where is Richard? “Have you seen this man?
Leadership is about responsibility and accountability and Goyder is responsible for the Qantas catastrophe, not Todd bloody Sampson.
Under Goyder’s five-year oversight, Qantas’ commitment to candour has been almost non-existent. It has become a mean and deceitful enterprise – look no further than the subterfuge employed to misrepresent the $570 million balance of COVID-19 travel credits.
Ultimately, this company survives on trust like no other. You might lose a bit of money if your bank or insurer lies to you, but you’re very unlikely to lose your life. That’s why people’s character in the airline industry is so important. That’s why executives and directors should never be seen to be placing their personal interests ahead of that trust.
How restorative it would be if Goyder stood up and said, “Yes, this happened on my watch and I ignored all the warnings. I’m falling on my sword.” But Goyder will never do that. He promised humility, not humiliation. He won’t do that because then the rest of his world collapses. He’ll be a dead man at Woodside. The AFL warlords will be emboldened to tear him down, and he just bought a house in Toorak. Plus, there’s no chairman-in-waiting on the Qantas board – that’s a design feature of every board Goyder chairs.
So he’s waiting it out. No knee-jerk reactions, remember? Preferably no reaction at all. In the contest between the company’s reputation and Goyder’s reputation, Qantas will lose. That is beyond question. After all, Qantas just lost in the very same contest with Alan Joyce.
Goyder maintains the delusion that Qantas’ problems have been blown out of proportion, having previously maintained the delusion that Qantas didn’t have any problems at all. In politics, backbenchers go back to their electorates from Canberra and find out pretty quickly what real people think. One of Goyder’s problems is that he spends zero time with real people. He is a sheikh of Western Australia. He is cosseted in an AFL world of unbelievable deference. And no person in Australia is inundated with more arrant fawning than the chairman of the Chairman’s Lounge.
Yet Goyder is now being seriously challenged for the first time in his career. He has spent his entire life not preparing for this moment. He seems to be in shock that people are finally seeing through his professional nice bloke routine. I’m Richard Goyder. This doesn’t happen to people like me. He’s so accustomed to floating above the rest of us. In fact, his social buoyancy is the entirety of his relevant aeronautical experience.
So we get the tired old script. I’m future-focused, I’m bedding down the new CEO, you need me for stability. It’s embarrassing.
He’s flailing now, he’s close to the end. He should gather his remaining disciples together for one last meal. Shareholders are muttering between themselves, but who’s going to do it? Who’s going to get the sword out
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Old 19th Sep 2023, 22:07
  #284 (permalink)  
 
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The best thing Joyce did was kick the AFR out of the lounges, off the in-flight telly and all else. None of this would have come out if that arrogant little small man syndrome person hadn't spat the dummy with what was then, minor bad publicity. Thanks Joycey, you've done well
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Old 19th Sep 2023, 22:11
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Originally Posted by Mr Mossberg
The best thing Joyce did was kick the AFR out of the lounges, off the in-flight telly and all else. None of this would have come out if that arrogant little small man syndrome person hadn't spat the dummy with what was then, minor bad publicity. Thanks Joycey, you've done well

I think it’s referred to as an own goal.
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Old 20th Sep 2023, 00:12
  #286 (permalink)  
 
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I can’t imagine what sort of personal hell Alan Joyce is enduring at the moment.

I was in Singapore en route to London the day he was appointed CEO of Qantas, and I was so furious, I couldn’t sleep prior to that long, overnight flight. Some were prepared to give him a chance. Others, like me, felt that this cost-cutting one-trick pony would destroy the full-service brand in favour of his Orange fiefdom. The only surprise was that it took him 15 years to accomplish his mission. And he almost got away with it!

Then the travelling public, after years of suffering through the inevitably deteriorating product on offer from a once-proud icon, saw Alan Joyce for what he really was - a driven hatchet-man who put profit above all else and, while destroying the conditions and morale of his loyal, long-suffering staff, reaped millions for himself. Suddenly, the Emperor had no clothes and, to avoid the inevitable media pursuit, he scuttled off home to Ireland. I doubt whether he’ll be back … unless he decides to comply with a subpoena. In the years ahead, he may well become the next Christopher Skase. If he does return, he will be a pariah.

His life must now be hell. Just imagine, no surrounding coterie of ass-kissing sycophants to tell him how infallible he is and how he truly is a corporate Messiah. His mobile phone, a repository for the personal numbers of a multitude of politicians, celebrities and media people, now probably rarely rings. If he eventually tries to call some of them, they’ll probably let it go straight through to voicemail. Sure, he has millions in the bank, but a narcissist of his calibre would have placed a far higher value on the planned two-month back-slapping tour of the world to assure him of his greatness.

I know it’s a few days too late, but R U OK Alan? I sincerely hope not, because your chickens have finally come home to roost. Enjoy!!

I feel better now!!
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Old 20th Sep 2023, 01:03
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Originally Posted by Shark Patrol
I can’t imagine what sort of personal hell Alan Joyce is enduring at the moment.

I was in Singapore en route to London the day he was appointed CEO of Qantas, and I was so furious, I couldn’t sleep prior to that long, overnight flight. Some were prepared to give him a chance. Others, like me, felt that this cost-cutting one-trick pony would destroy the full-service brand in favour of his Orange fiefdom. The only surprise was that it took him 15 years to accomplish his mission. And he almost got away with it!

Then the travelling public, after years of suffering through the inevitably deteriorating product on offer from a once-proud icon, saw Alan Joyce for what he really was - a driven hatchet-man who put profit above all else and, while destroying the conditions and morale of his loyal, long-suffering staff, reaped millions for himself. Suddenly, the Emperor had no clothes and, to avoid the inevitable media pursuit, he scuttled off home to Ireland. I doubt whether he’ll be back … unless he decides to comply with a subpoena. In the years ahead, he may well become the next Christopher Skase. If he does return, he will be a pariah.

His life must now be hell. Just imagine, no surrounding coterie of ass-kissing sycophants to tell him how infallible he is and how he truly is a corporate Messiah. His mobile phone, a repository for the personal numbers of a multitude of politicians, celebrities and media people, now probably rarely rings. If he eventually tries to call some of them, they’ll probably let it go straight through to voicemail. Sure, he has millions in the bank, but a narcissist of his calibre would have placed a far higher value on the planned two-month back-slapping tour of the world to assure him of his greatness.

I know it’s a few days too late, but R U OK Alan? I sincerely hope not, because your chickens have finally come home to roost. Enjoy!!

I feel better now!!
Yes, he is now the Voldemort of Australian business; no one will mention his name. I wonder how Goyder, already on shaky ground himself, will handle his legacy in the upcoming annual report and AGM.

Joyce has taken Australian citizenship but that was in a time when he thought he would be feted in retirement with highly paid board positions and honorary doctorates. This has all gone. I now doubt he will ever work in Australia again and his $19M apartment, funded by the famous sale of shares in June, will quietly hit the market.

Undoubtedly, he will find a board position overseas. A company like Ryanair would welcome someone with his attitudes on profit and customer care.
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Old 20th Sep 2023, 03:16
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Goyder has become Joe’s next target I’d say.
If we pass the hat around, how many shares do we need to buy for Joe to get him an invite to the AGM?
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Old 20th Sep 2023, 04:07
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Originally Posted by Shark Patrol
I can’t imagine what sort of personal hell Alan Joyce is enduring at the moment.

I was in Singapore en route to London the day he was appointed CEO of Qantas, and I was so furious, I couldn’t sleep prior to that long, overnight flight. Some were prepared to give him a chance. Others, like me, felt that this cost-cutting one-trick pony would destroy the full-service brand in favour of his Orange fiefdom. The only surprise was that it took him 15 years to accomplish his mission. And he almost got away with it!

Then the travelling public, after years of suffering through the inevitably deteriorating product on offer from a once-proud icon, saw Alan Joyce for what he really was - a driven hatchet-man who put profit above all else and, while destroying the conditions and morale of his loyal, long-suffering staff, reaped millions for himself. Suddenly, the Emperor had no clothes and, to avoid the inevitable media pursuit, he scuttled off home to Ireland. I doubt whether he’ll be back … unless he decides to comply with a subpoena. In the years ahead, he may well become the next Christopher Skase. If he does return, he will be a pariah.

His life must now be hell. Just imagine, no surrounding coterie of ass-kissing sycophants to tell him how infallible he is and how he truly is a corporate Messiah. His mobile phone, a repository for the personal numbers of a multitude of politicians, celebrities and media people, now probably rarely rings. If he eventually tries to call some of them, they’ll probably let it go straight through to voicemail. Sure, he has millions in the bank, but a narcissist of his calibre would have placed a far higher value on the planned two-month back-slapping tour of the world to assure him of his greatness.

I know it’s a few days too late, but R U OK Alan? I sincerely hope not, because your chickens have finally come home to roost. Enjoy!!

I feel better now!!
Brilliantly summed up!
May i say i think the only thing you missed was to include his attributes as a union busting thug who closely aligned himself to Willie Walsh of BA fame.
A brave coward who quickly forgot his upbringing in 1 of the slum suburbs of Dublin.
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Old 20th Sep 2023, 04:22
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Looks like VH will have a date in her diary...

Qantas CEO ordered into mediation with union to decide compensation for sacked workers

A federal court judge has ordered the new Qantas chief executive, Vanessa Hudson, to attend mediation proceedings with a union chief to settle compensation and penalty claims, with the bill for illegally outsourcing 1,700 workers potentially running into the hundreds of millions of dollars.

On Wednesday, legal representatives for Qantas and the Transport Workers’ Union (TWU) told the federal court they were open to a mediation process to settle the final compensation stemming from their long-running legal battle. The airline ultimately lost the case last week when the high court unanimously upheld a full federal court decision for laying off staff at 10 airports in November 2020.

/continues
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Old 20th Sep 2023, 06:44
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IF there is any hope that Hudson might change her spots - that mediation will be the place. It would be FASCINATING to be a fly on the wall.

I am not a Union fan and my personal opinion that Joyce is far less of a Union bashing thug than a greedy, entitled, nasty little bully who cares as much for Qantas as a leech does for its victim. Union offering negotiation the whole way was a very clever tactic for as much as what the outcome will be as to the attitude in the room.

If the outcome is positive for staff it’s not necessarily a complete change of heart but a good start.

If the negotiation or discussions are as I think most would suspect then the future does not look (so) great.

I know it’s a few days too late, but R U OK Alan? I sincerely hope not, because your chickens have finally come home to roost. Enjoy!!
How about some ‘UR NOT OK Richard & Alan ’ T Shirts for the AGM??
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Old 20th Sep 2023, 06:56
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Originally Posted by V-Jet
IF there is any hope that Hudson might change her spots - that mediation will be the place. It would be FASCINATING to be a fly on the wall.

I am not a Union fan and my personal opinion that Joyce is far less of a Union bashing thug than a greedy, entitled, nasty little bully who cares as much for Qantas as a leech does for its victim. Union offering negotiation the whole way was a very clever tactic for as much as what the outcome will be as to the attitude in the room.

If the outcome is positive for staff it’s not necessarily a complete change of heart but a good start.

If the negotiation or discussions are as I think most would suspect then the future does not look (so) great.



How about some ‘UR NOT OK Richard & Alan ’ T Shirts for the AGM??
I suspect the TWU knows it holds the whip-hand in these negotiations. The judge has already indicated that he has had enough of QF's delaying tactics so QF won't want to end up with a court mandated settlement. QF needs to settle and move on. From a PR point of view, mediation suits Qantas; the last thing they want is to be seen attempting to screw over staff in a public forum.
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Old 20th Sep 2023, 07:05
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Qantas releasing their annual report after 3pm on a Wednesday with no notice and fanfare. Funny that.
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Old 20th Sep 2023, 07:42
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Old 20th Sep 2023, 07:54
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Take a look at the pay increases for Goyder and some of the board members nice work compared to the 3% they stitched the staff up for. I’d love to know what the deal for post employment travel is, anyone know?
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Old 20th Sep 2023, 08:03
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Originally Posted by dragon man



Take a look at the pay increases for Goyder and some of the board members nice work compared to the 3% they stitched the staff up for. I’d love to know what the deal for post employment travel is, anyone know?
they’ll probably want to provide their own meals on any of those flights, just sayin’.
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Old 20th Sep 2023, 09:16
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Originally Posted by walesregent
they’ll probably want to provide their own meals on any of those flights, just sayin’.
Just read that $14.4m of Joyce pay has been witheld due ongoing ACCC investigation.
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Old 20th Sep 2023, 09:41
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Originally Posted by blubak
Just read that $14.4m of Joyce pay has been witheld due ongoing ACCC investigation.
Actually only $2.2m has been withheld, the full $14.4m will only be clawed back if deemed ‘necessary’……
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Old 20th Sep 2023, 19:36
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Please tell me the Doug Parker in the accounts above isn’t the same monumentally inept D. Parker who tried tried to run USAir and America West before that? You couldn’t pick a more stupid individual if you tried.
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Old 20th Sep 2023, 21:20
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What is stunning is the remuneration for the CEO Qantas Loyalty for screwing the travelling public.
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