Nice comparison between Qantas and an airline that ceased operations 4 years ago!

This is my favourite part of the tiny bit of investigation I just did on mexicana

Not sure how many others have read the ASX release last week that both the QF Company Secretary and Assistant Secretary have resigned, effective immediately .... This is not a good sign

Can I ask, what is the Company Secretary responsible for?

Compliance with Corporations Act and ASX listing rules to name the big ticket items

Thanks:ok:

That piece of news didn't make the 'Friday Flyer' strangely enough! :rolleyes:

Oh foxtrot. There is only one possible interpretation of that piece of news.

for those of us without a Bcom

and that is?

What do any of them do?

Andrew Finch now company secretary and chief counsel. Alan is now completely surrounded by 'yes' men.

The company secretary role has been taken on by Andrew Fitch who is already a company legal representative. If the role of 3 can be done by 1 then is it not a good thing that this has happened - if bleeding cash is a major issue.. ?

The question is whether it will be announced to the market on Monday.
Surely this IS a market sensitive AND newsworthy item about which shareholders must be told.
Who wil be next ? We can only hope....

Waren9: i lack a BCom, but do sport an undergrad degree. And a couple of years of criminal investigation. Losing one company secretary is unfortunate . Losing two looks like carelessness. Or perhaps no one wants to be left on the hook for suspect books?

It is axiomatic in both conspiracies and corporate sophistry that if you don't know who the patsy is, its you. A.F. may be the legal department's gun, but that factoid gives no insights into who he thinks he is, or what he thinks he's doing.

Here's a corollary: A blow-hard surgeon wants to remove your old-school liver, claiming that it is hindering progress towards an exciting vision of a streamlined, reduced organ-count you. The two quiet, sober surgeons in the hospital quit in protest, yet the blow-hard's buddy rushes in to support the liver removal. Reckon there might be trouble in the offing?

Yep, maybe the Senate Inquiry and Senator X's wish of an independent audit of the group is about to come to fruition?? :;)

This is the advice dated 31/03/2014, note the letter is signed by Andrew Finch..

http://member.afraccess.com/media?id...N_01505305.pdf

No media coverage so far .. :confused: I think Taryn Morton was only recently appointed, under a year I think.

Very interesting - thanks for posting.

Both, resigning 'with effect from today'.....and as above particularly noted the 'Finch' moniker on the bottom.

Does not seem in any way planned. More normal QF exits are worded along the lines of 'Nawal and Taryn have spent many years developing a herbal diet supplement and after much deliberation have taken the hard decision to devote more time to their families and the upcoming launch of their Extract of Paspalum in the US/Asian market. They will be finally leaving us on June 30 after officially handing the reins over to Andrew Finch in May'.

I would really like to know what 'event' precipitated this. It must have been a doozy.

The resignation of the secretary and his assistant means that they believe that the corporations laws or another act or the ASX listing rules have been breached and that the Board refuses to remedy the breach.

...or they themselves have done something wrong.

The company secretary has a duty to the board, not Alan.

Anyone's guess, trading while insolvent, breaching the QSA come to mind. The secretary only has one option - resignation, if they cannot get a remedy, or they are guilty themselves.

I wonder if they are available for comment…and how much woof!

How about lack of disclosure at last years results. EOY results BGA stood up and said company was strong and everything going to plan. Weeks later crying to government that Qantas on the brink and needed government support.

Fair bit of inconsistency there I would think.

Given these were resignations not terminations or redundancy, the only $$$ that should have left the building were normal entitlements. But then again this is Qantas.

They most certainly will not talk to anyone or they will end up at the end of nasty litigation unless it is in a legal forum or parliamentary enquiry.