A real salt of the earth operator

https://cimg7.ibsrv.net/gimg/pprune....061168593a.gif

I had to read that several times to try and wrap my head around it. I still don't get it.

I'm with you old mate. I don't get what he's talking about.

Been through many recessions?

Despite the few extra dollars being squirrelled away Australian households are still the second most indebted in the world. The margin calls on mortgages and the downward drag on wages takes years to really have an impact. Those few extra dollars saved either as a result of government policy or prudent spending shouldn’t be used on discretionary expenditure.
Sure, the government will encourage you to spend and even borrow in an attempt to kick the can even further down the road, and they may even be successful. Briefly.

Borrowing, whether by individuals or governments, is simply spending tomorrow’s money today. Eventually we have to transition into a tomorrow that has less money as yesterday spent a lot of it.

Margin calls on residentual mortgages?

now thats now FUD

the prohets of doom love this ****

Depends on the currency the loan was in ;)
Previously an adverse currency movement could be offset by a higher property valuation, but if valuations fall then that’s not possible.

Sure this won’t affect many, just as unemployment won’t affect many, but the knock on consequences can affect everyone. America’s subprime issue only affected a small proportion of borrowers who had used increased valuations to stay above water as interest rates changed, but it had repercussions that went further than the affected borrowers.

My point being that’s it’s probably prudent that the second most indebted households in the world actually do start to save and pay off debt. It had to happen at some stage.
Stating that capitalism is alive and well and going through one of its inevitable cycles is hardly forecasting doomsday, although perhaps it might feel like it for some who have only ever seen one side of the capitalist system coin.

Has anyone checked with normanton if 260 takers for LWOP was enough?

The way he/she was carrying on about every SO taking it, I would have thought the number of applicants was closer to 4 or 500!

Qantas thinking moving out of Mascot base to Western Sydney. The ever changing face of Australian aviation.
If you said that this time last year, standard answer, what the hell are you smoking!

https://www.smh.com.au/business/comp...15-p55vq2.html

Depends on the headline. Some of the headlines talk about moving out of SYD for MEL. I bet the headlines in MEL are for JQ to move to SYD.

It’s all about trying to gouge the various state governments (and perhaps even local councils) for some $$$. I wouldn’t write off the possibility that the QF training center in SYD will still go ahead.

These kind of moves rarely happen as all those in the upper echelons have no interest in actually living in Western Sydney or commuting for 3 hours a day from the Eastern Suburbs or North Shore. They might move some operational sections to Western Sydney but the main departments in HQ will remain where they are or end up in the CBD.

Not forgetting the several large businesses in recent years who have nearly blown up because they decided to move HQ only to see all their staff resign as they didn't want to commute or move interstate.

Half of QF live in the shire, how on earth will this work?

Pretty sure that would be part of the reason to move out west, resignations are cheaper than redundancy.

This would makes sense really if QF could get a premium price of office space have JQ, QF under the one roof one stop shop for group CEO. Western SY will be a big airport.

Virgin got $200M to keep their office in Brisbane.

Alan is just wondering where his $200M is.

AFR @ https://www.afr.com/companies/transp...0200915-p55vsz

SMH @ https://www.smh.com.au/business/comp...15-p55vv6.html

Simon Hickey (ex QF) to roll out the red carpet...

This will be interesting. They'll need to factor in the cost of people relocation too... It would want to be a tangible incentive to move state. WS seems more likely with JQ relocation expense.

Didn’t QF just a few years ago have a risk assessment done of their Sydney operations? Wasn’t the result a decentralisation of operations so that no one localised event would effectively shut the airline down?
Now they want to put everything back together again?
Anyway today’s announcement good PR for no cost.

I think COVID has taught them you can run an airline from home... So if the "one site" was offline for a period of time which it has been already this year - you have BC plan to work from home as long as you have access to the data and systems which would not be "one site"

Same can be said for a lot of other big businesses that will do zoom instead of hopping up front of an aircraft.

Was interesting to listen to a podcast on Australian Aviation a talkative fellow who said he had something to do with AIPA
was espousing their brilliance getting both pilot agreements done. Think it must have been the worst ever deal, airline was already
shut down, redundancies almost certain & AIPA let a deal go through where redundant pilots at best might find themselves on year 1 of current scale
, at worst year 1 of B scale upon re-employment. That could easily be a seven figure decrease to career earnings, was just missed completely

Still pushing party line, - surplus of 220 only (why is that the magic number , there is no international), & trying to get PilotKeeper approved where he
believes QF group pilots will get wage top up by Fed Govt . Very interesting ideas