QANTAS - Australia II
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DEFCOM,
no truer words spoken. My sister deals in exactly that business of taking companys over for a huge investment group. From what she says this is very normal - would you offer your first offer as your best when you buy a car?
Macq is after us. Bugger.
no truer words spoken. My sister deals in exactly that business of taking companys over for a huge investment group. From what she says this is very normal - would you offer your first offer as your best when you buy a car?
Macq is after us. Bugger.
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Hi all
It now seems the deal will be a foregone conclusion, probably around the $ 5.50 per share. My question is: If there is a higher degree of volatility, and as the experts have been saying, the very real possibility of Qantas potentially going bust if there are any more disasters in the airline industry, then how safe is our Superannuation?
I fear there will be massive restructuring and the effort of 35,000 employees over all these years will be dismissed.
Sad days indeed.
It now seems the deal will be a foregone conclusion, probably around the $ 5.50 per share. My question is: If there is a higher degree of volatility, and as the experts have been saying, the very real possibility of Qantas potentially going bust if there are any more disasters in the airline industry, then how safe is our Superannuation?
I fear there will be massive restructuring and the effort of 35,000 employees over all these years will be dismissed.
Sad days indeed.
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from the australian..
Qantas sold for $11bn
Steve Creedy, Aviation writer and Michael West
December 14, 2006
CORPORATE raiders last night struck a deal worth $11 billion to take over Qantas, after sweetening an offer that was rejected by the airline's board earlier in the day.
Airline Partners Australia increased its offer by 10c a share to swing the Qantas board in favour of the deal.
A source close to the deal said insiders - after weeks of tense negotations - were confident an agreement would be signed today.
Qantas's non-executive directors earlier said a $5.50 per share cash bid by the consortium was not acceptable, citing the complex terms of the offer. It is understood they were also not happy with the bid price or a $100 million break fee if the deal failed to go through.
Most of the conditions have been changed to placate Qantas directors.
Executive directors Geoff Dixon and Peter Gregg, who did not vote on the offer because it reportedly involves a 1 per cent stake for senior managers, later backed the rejection in a note to staff. "The Qantas decision has the support of all directors - including the non-executive directors, Peter Gregg and myself - and the senior executive team at Qantas," Mr Dixon said.
A source close to the talks said the airline had told the bidders to "get real", prompting the revised offer late last night.
The source said the board
believed the original offer was not in the best interests of shareholders or the company. But Qantas was not "doing a Coles-Myer" and sending its suitors away, and negotiations were not hostile.
A source involved with the bidders indicated there were no unusual conditions in the bid.
News of the rejection of the original offer caused Qantas shares to plummet below $5 when they began trading after a brief suspension, but they recovered to close down 14c at $5.09.
The carrier's main rival, Virgin Blue, added to the pain by announcing it would push ahead with plans to launch an international airline on the flying kangaroo's lucrative Pacific route.
The original takeover proposal would have seen Qantas 60 per cent Australian-owned, giving David Coe's Allco Finance Group 11 per cent of the airline, Allco Equity Group about 34 per cent and Macquarie Bank less than 15 per cent. Offshore investors, including Texas Pacific Group and Onex, would hold less than 40 per cent of the airline, with no single investor holding more than 15 per cent.
It is understood the move to increase the bid to $5.60 per share was linked to bringing in other parties to reduce the exposure of the Allco group. Allco Equity, headed by Peter Yates, is related to Allco Finance and the group was looking at a combined stake of up to 46 per cent.
Allco leases aircraft to Qantas and has two former airline chiefs, Rod Eddington and David Turnbull, on its board.
While it is understood Sir Rod has no interest in joining the Qantas board or being involved in its operations, Mr Turnbull is tipped to join Mr Coe and possibly former Telstra chairman Bob Mansfield on the board.
Analysts viewed the board rejection of the original offer as part of negotiating tactics.
"I think rather than being a landmark moment in the negotiation, they have done it to
respond to the speculation," JP Morgan analyst Matt Crowe said last night in anticipation of a revised offer.
"I don't think we interpret it as being the end of anything, but it shows they're still a fair way apart."
The deal would see the foreign component of the deal nine percentage points below the foreign investment limit and about 5 per cent less than the stakes held by foreign investors on November 8. The structure is designed to avoid reviews by the Foreign Investment Review Board and Australian Competition and Consumer Commission, though the federal Government has said it will still look at national interest issues.
Experts have warned a highly leveraged Qantas is more vulnerable to downturns from external shocks such as terrorist attacks and the major credit agencies say a takeover will reduce the airline's credit rating.
Moody's Investors Service said yesterday this could involve a "multi-notch" downgrade.
However, analysts said that popular suggestions the consortium could cut and run in a downturn were overblown.
There are also fears the new owners would be quicker to axe unprofitable regional routes kept open by Qantas for political reasons. And unions are worried sections of the company would be sold off and more work such as maintenance and call centres would be sent offshore.
Analysts say there are about $3 billion worth of assets open to review
Steve Creedy, Aviation writer and Michael West
December 14, 2006
CORPORATE raiders last night struck a deal worth $11 billion to take over Qantas, after sweetening an offer that was rejected by the airline's board earlier in the day.
Airline Partners Australia increased its offer by 10c a share to swing the Qantas board in favour of the deal.
A source close to the deal said insiders - after weeks of tense negotations - were confident an agreement would be signed today.
Qantas's non-executive directors earlier said a $5.50 per share cash bid by the consortium was not acceptable, citing the complex terms of the offer. It is understood they were also not happy with the bid price or a $100 million break fee if the deal failed to go through.
Most of the conditions have been changed to placate Qantas directors.
Executive directors Geoff Dixon and Peter Gregg, who did not vote on the offer because it reportedly involves a 1 per cent stake for senior managers, later backed the rejection in a note to staff. "The Qantas decision has the support of all directors - including the non-executive directors, Peter Gregg and myself - and the senior executive team at Qantas," Mr Dixon said.
A source close to the talks said the airline had told the bidders to "get real", prompting the revised offer late last night.
The source said the board
believed the original offer was not in the best interests of shareholders or the company. But Qantas was not "doing a Coles-Myer" and sending its suitors away, and negotiations were not hostile.
A source involved with the bidders indicated there were no unusual conditions in the bid.
News of the rejection of the original offer caused Qantas shares to plummet below $5 when they began trading after a brief suspension, but they recovered to close down 14c at $5.09.
The carrier's main rival, Virgin Blue, added to the pain by announcing it would push ahead with plans to launch an international airline on the flying kangaroo's lucrative Pacific route.
The original takeover proposal would have seen Qantas 60 per cent Australian-owned, giving David Coe's Allco Finance Group 11 per cent of the airline, Allco Equity Group about 34 per cent and Macquarie Bank less than 15 per cent. Offshore investors, including Texas Pacific Group and Onex, would hold less than 40 per cent of the airline, with no single investor holding more than 15 per cent.
It is understood the move to increase the bid to $5.60 per share was linked to bringing in other parties to reduce the exposure of the Allco group. Allco Equity, headed by Peter Yates, is related to Allco Finance and the group was looking at a combined stake of up to 46 per cent.
Allco leases aircraft to Qantas and has two former airline chiefs, Rod Eddington and David Turnbull, on its board.
While it is understood Sir Rod has no interest in joining the Qantas board or being involved in its operations, Mr Turnbull is tipped to join Mr Coe and possibly former Telstra chairman Bob Mansfield on the board.
Analysts viewed the board rejection of the original offer as part of negotiating tactics.
"I think rather than being a landmark moment in the negotiation, they have done it to
respond to the speculation," JP Morgan analyst Matt Crowe said last night in anticipation of a revised offer.
"I don't think we interpret it as being the end of anything, but it shows they're still a fair way apart."
The deal would see the foreign component of the deal nine percentage points below the foreign investment limit and about 5 per cent less than the stakes held by foreign investors on November 8. The structure is designed to avoid reviews by the Foreign Investment Review Board and Australian Competition and Consumer Commission, though the federal Government has said it will still look at national interest issues.
Experts have warned a highly leveraged Qantas is more vulnerable to downturns from external shocks such as terrorist attacks and the major credit agencies say a takeover will reduce the airline's credit rating.
Moody's Investors Service said yesterday this could involve a "multi-notch" downgrade.
However, analysts said that popular suggestions the consortium could cut and run in a downturn were overblown.
There are also fears the new owners would be quicker to axe unprofitable regional routes kept open by Qantas for political reasons. And unions are worried sections of the company would be sold off and more work such as maintenance and call centres would be sent offshore.
Analysts say there are about $3 billion worth of assets open to review
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Qantas chief donates millions but "There are always going to be labour changes "
Colin Kruger
December 14, 2006 - 12:41PM
Qantas chief Geoff Dixon says he will accept the consortium's offer to continue as the airline's CEO, but it will not necessarily be for the mountain of money they plan to throw at him.
Mr Dixon will be one of the airline senior executives who stand to receive 1 per cent of the airline if the deal goes through.
Depending on whether the airline meets its performance hurdles this could deliver Mr Dixon up to $60 million as part of the Long-Term Incentive Scheme (LTIP), but all proceeds will go to charity he says.
"My family and I have decided that I will gift my entire share of the LTIP to a charitable trust, which we will establish for the benefit of the community, particularly in the areas of medical research and indigenous health and education," Mr Dixon said.
He was not so charitable today when asked about the outlook for the airline's workforce. When asked if he could guarantee that the new owners would not undertake job cuts in the future, Mr Dixon replied: "No, we are not going to say here now that there won't be labour changes
"There are always going to be labour changes in the aviation industry."
Asked if Qantas would agree to a union labour guarantee agreement, Mr Dixon replied: "No."
December 14, 2006 - 12:41PM
Qantas chief Geoff Dixon says he will accept the consortium's offer to continue as the airline's CEO, but it will not necessarily be for the mountain of money they plan to throw at him.
Mr Dixon will be one of the airline senior executives who stand to receive 1 per cent of the airline if the deal goes through.
Depending on whether the airline meets its performance hurdles this could deliver Mr Dixon up to $60 million as part of the Long-Term Incentive Scheme (LTIP), but all proceeds will go to charity he says.
"My family and I have decided that I will gift my entire share of the LTIP to a charitable trust, which we will establish for the benefit of the community, particularly in the areas of medical research and indigenous health and education," Mr Dixon said.
He was not so charitable today when asked about the outlook for the airline's workforce. When asked if he could guarantee that the new owners would not undertake job cuts in the future, Mr Dixon replied: "No, we are not going to say here now that there won't be labour changes
"There are always going to be labour changes in the aviation industry."
Asked if Qantas would agree to a union labour guarantee agreement, Mr Dixon replied: "No."
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while i agree that this whole thing is quite scary.. i dont believe that there is any way that ANY company like an airline can with all honesty say that 'there will be no job cuts in the future'.
whether or not he is referring to impending job cuts that are a result from this takeover, or just in general.. he couldnt promise something like that.. no one would believe him anyway because it would be impossible to uphold.
what are the unions doing about this does anyone know?
personally i am more scared about losing staff travel and other benefits etc - if we are on EBAs then we are safe for the meantime surely?
I think if anything major happened it would be to casual/hire staff first and reduced conditions/benefits and pay for new recruits
whether or not he is referring to impending job cuts that are a result from this takeover, or just in general.. he couldnt promise something like that.. no one would believe him anyway because it would be impossible to uphold.
what are the unions doing about this does anyone know?
personally i am more scared about losing staff travel and other benefits etc - if we are on EBAs then we are safe for the meantime surely?
I think if anything major happened it would be to casual/hire staff first and reduced conditions/benefits and pay for new recruits
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first
it will take time to implement the changes from an asx listing to a private firm. this may take several month. there will another massive review about future cost cutting..
the fin review today qouted a qantas director:
"on a personal note i dont want this deal to happen. but my emotinal views about what qantas represents to the nation are not at issue. the social and emotional factors are secondary to the economic".
those bas$%^&s would sell their mothers & children for money
has anyone seen or heard a comment on the qantas deal from the so called dream team?
the fin review today qouted a qantas director:
"on a personal note i dont want this deal to happen. but my emotinal views about what qantas represents to the nation are not at issue. the social and emotional factors are secondary to the economic".
those bas$%^&s would sell their mothers & children for money
has anyone seen or heard a comment on the qantas deal from the so called dream team?
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Actu Media Release On Qantas Buyout
QANTAS UNIONS FEAR PRIVATE EQUITY TAKEOVER WILL PUT THOUSANDS OF JOBS AND
PAY AT RISK
Unions fear the takeover of Qantas by a private equity consortium will cost
thousands of jobs and put downward pressure on workers' wages and conditions
while bonuses for senior executives will go through the roof.
Qantas employs around 37,000 staff with more than 90% union members.
ACTU Secretary Greg Combet and Qantas unions issued the following statement
on the takeover bid announced today:
"This takeover could spell a significant reduction in workers' pay and
conditions and the loss of thousands of Australian jobs.
In recent years Qantas staff have borne the burden of the company's drive
for a stronger competitive position and the workers have a right to be very
disappointed that their jobs and wages and conditions are now at further
risk.
Qantas workers have experienced an average pay cut in real terms of more
than 3% in recent years, and yet company profits have soared and salaries
for senior management have risen by more than 40%.
Senior Qantas executives are also set to share in a $110 million incentive
scheme should the private equity bid succeed.
Private equity funds are interested in short term benefits and unions are
very worried that this is likely to be achieved via the outsourcing of jobs
overseas, the sell-off of business units and the slashing of services,
including regional airline routes.
A large component of the finance being used to purchase Qantas is borrowed
money and the company's debt levels could double if the takeover is
successful.
Again, workers have a right to feel cheated after years of Qantas demanding
wage restraint from its workforce in order to reduce debt and to allow the
purchase of new planes.
Unions are also troubled by the fact that the Howard Government's new IR
laws have made the take over of Qantas a more attractive proposition because
they allow major cuts to workers' wages and conditions in a number of ways.
Qantas has already started the process of cutting workers' pay through the
introduction of Australian Workplace Agreements.
In the likely event the company is restructured, it is also possible under
the IR laws for workers to lose all their terms and conditions including
entitlements to public holidays, leave loadings, penalties, allowances and
redundancy pay - receiving only $13.47 per hour and four other minimum
conditions.
Despite our strong opposition to the sale, unions have a long-standing
relationship with Qantas management that we will work hard to maintain in
order to protect the interests of employees," said Mr Combet.
PAY AT RISK
Unions fear the takeover of Qantas by a private equity consortium will cost
thousands of jobs and put downward pressure on workers' wages and conditions
while bonuses for senior executives will go through the roof.
Qantas employs around 37,000 staff with more than 90% union members.
ACTU Secretary Greg Combet and Qantas unions issued the following statement
on the takeover bid announced today:
"This takeover could spell a significant reduction in workers' pay and
conditions and the loss of thousands of Australian jobs.
In recent years Qantas staff have borne the burden of the company's drive
for a stronger competitive position and the workers have a right to be very
disappointed that their jobs and wages and conditions are now at further
risk.
Qantas workers have experienced an average pay cut in real terms of more
than 3% in recent years, and yet company profits have soared and salaries
for senior management have risen by more than 40%.
Senior Qantas executives are also set to share in a $110 million incentive
scheme should the private equity bid succeed.
Private equity funds are interested in short term benefits and unions are
very worried that this is likely to be achieved via the outsourcing of jobs
overseas, the sell-off of business units and the slashing of services,
including regional airline routes.
A large component of the finance being used to purchase Qantas is borrowed
money and the company's debt levels could double if the takeover is
successful.
Again, workers have a right to feel cheated after years of Qantas demanding
wage restraint from its workforce in order to reduce debt and to allow the
purchase of new planes.
Unions are also troubled by the fact that the Howard Government's new IR
laws have made the take over of Qantas a more attractive proposition because
they allow major cuts to workers' wages and conditions in a number of ways.
Qantas has already started the process of cutting workers' pay through the
introduction of Australian Workplace Agreements.
In the likely event the company is restructured, it is also possible under
the IR laws for workers to lose all their terms and conditions including
entitlements to public holidays, leave loadings, penalties, allowances and
redundancy pay - receiving only $13.47 per hour and four other minimum
conditions.
Despite our strong opposition to the sale, unions have a long-standing
relationship with Qantas management that we will work hard to maintain in
order to protect the interests of employees," said Mr Combet.
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Enron-Qantas
Have you seen the documentary movie Enron - The Smartest Guys In The Room? A true story of corporate greed gone wrong. It's compelling viewing and currently running on Foxtel and in the current economic climate I suggest you watch it.............and then brace yourselves!!
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......."I'm so excited " !!!
'Just saw Darth being interviewed in the 730 Report.
I have never seen him look so happy and smug.
As a group we are stuffed........'wish I took the package
My bet is that from March it will be "not a noice place"
Roll on Qantas A-380 Ltd.
The timing of MM latest rant on the FAAA website has not gone unnoticed.
As a member , I would of preferred a more measured response to THE biggest issue affecting all members. Not some paranoid diatribe about those pesky non-members ( get over it boyz-you're never going to get 100% membership......MOVE ON........THIS ISSUE IS MUCH BIGGER THAN THIS DRIBBLE!!!!!
Wonder how the party is going with Darth and the Dame tonight.
They must be stoked
Please can we have just one more VR package !!!
I have never seen him look so happy and smug.
As a group we are stuffed........'wish I took the package
My bet is that from March it will be "not a noice place"
Roll on Qantas A-380 Ltd.
The timing of MM latest rant on the FAAA website has not gone unnoticed.
As a member , I would of preferred a more measured response to THE biggest issue affecting all members. Not some paranoid diatribe about those pesky non-members ( get over it boyz-you're never going to get 100% membership......MOVE ON........THIS ISSUE IS MUCH BIGGER THAN THIS DRIBBLE!!!!!
Wonder how the party is going with Darth and the Dame tonight.
They must be stoked
Please can we have just one more VR package !!!
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RIP Qantas 16/11/1920 -- 14/12/2006
Schlong, I've seen the Enron movie and yes it was scary stuff with greedy execs cut loose at a Roman orgy of money and power but at least some of them are now in jail sharing a cell with a big dude named Bubba.
I need a laugh now so will have to dig out the Laughter In The Air book by Col Burgess to remind myself of the good ol' days!!
Last edited by Front Pit; 14th Dec 2006 at 12:11.
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Does anyone else get the feeling that this was a little too easy and contrived?
As front pit has said the last piece has just fallen into place with pieces of the jigsaw like directed LSL.The FAAA was right in a way about the cost structure of L/H but I think the real reason has just been exposed and that was to remove or lower the debt to it's employees and hence to the new owners.They had to make it as attractive as possible so that if the new owners run by the same Darth want to get rid of crew they don't have to pay as much to do so.
As far as MM's rant goes with the FAAA's website having a password ,does he really think that will stop the company getting a hold of any electronic newsletter?
We are just very lucky that MM has been having secret talks with the Macqaurie bank now for the last 3 months.Obviously these talks have been fruitfull because he told us about them on pprune.I am waiting with anticipation to hear the details as obviously Darth was not aware of them either.
Twiggs,here is your perfect opportunity to give up the parts of our EBA that you have said are over generous such as our allowances.I'm sure the new owners will want you on a work place agreement as soon as possible.GO FOR IT
As front pit has said the last piece has just fallen into place with pieces of the jigsaw like directed LSL.The FAAA was right in a way about the cost structure of L/H but I think the real reason has just been exposed and that was to remove or lower the debt to it's employees and hence to the new owners.They had to make it as attractive as possible so that if the new owners run by the same Darth want to get rid of crew they don't have to pay as much to do so.
As far as MM's rant goes with the FAAA's website having a password ,does he really think that will stop the company getting a hold of any electronic newsletter?
We are just very lucky that MM has been having secret talks with the Macqaurie bank now for the last 3 months.Obviously these talks have been fruitfull because he told us about them on pprune.I am waiting with anticipation to hear the details as obviously Darth was not aware of them either.
Twiggs,here is your perfect opportunity to give up the parts of our EBA that you have said are over generous such as our allowances.I'm sure the new owners will want you on a work place agreement as soon as possible.GO FOR IT
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......take a cold shower"
Now lets not get too far ahead of ourselves.
Our newly crowned philanthropist Mr Geoff Dixon has said:
"I cannot gaurantee job security, I cannot gaurantee my own job security:" ( 730 Report 14th Dec )
Now, I feel confident of the future.
Merry Christmas to you too
Our newly crowned philanthropist Mr Geoff Dixon has said:
"I cannot gaurantee job security, I cannot gaurantee my own job security:" ( 730 Report 14th Dec )
Now, I feel confident of the future.
Merry Christmas to you too
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The new Industrial Relations laws make the take over of Qantas an attractive proposition. It is now possible following a transmission of business for Qantas workers after 12 months to lose all their terms and conditions, including their redundancy entitlements and be covered only by the minimum rate of pay $13.47 per hour and 4 other basic minimum conditions.
The new IR laws also make it possible for the business to force employees to accept an employer Greenfield agreement. In most cases these so-called agreements remove all entitlements to public holidays, leave loadings, penalties, allowances, redundancy pay and often have a flat, usually low, hourly rate of pay.
Qantas has started the process through the introduction of Australian Workplace Agreements. The continued outsourcing of jobs overseas will gather pace should the private equity raiders succeed.
Even under the new IR laws, Qantas workers still have rights, that is why it is important that all the Qantas unions have agreed to work together to protect the Qantas workers Rights at Work.
Qantas management has more than $110 million reasons why they shouldn’t care. The private equity consortium has offered 180 senior Qantas management $110 million should the bid be accepted by Qantas management and the bid ultimately succeed. This is on average $611,000.00 payment per manager.
A large component of the finance being used to purchase
Qantas is borrowed money. There is lots of borrowed money.
Qantas’ debt levels are expected to double if the takeover is successful. Qantas workers have a right to feel cheated after years of Qantas demanding wage restraint from its workforce to reduce debt and to allow the purchase of new planes.
It is likely that Qantas’ credit rating will be downgraded if the buy-out succeeds. In the past Qantas has demanded job cuts and wage restraint, in part to protect Qantas’ credit rating. When millions of dollars are dangled in front of Qantas management, high debt is suddenly not a concern???
The new IR laws also make it possible for the business to force employees to accept an employer Greenfield agreement. In most cases these so-called agreements remove all entitlements to public holidays, leave loadings, penalties, allowances, redundancy pay and often have a flat, usually low, hourly rate of pay.
Qantas has started the process through the introduction of Australian Workplace Agreements. The continued outsourcing of jobs overseas will gather pace should the private equity raiders succeed.
Even under the new IR laws, Qantas workers still have rights, that is why it is important that all the Qantas unions have agreed to work together to protect the Qantas workers Rights at Work.
Qantas management has more than $110 million reasons why they shouldn’t care. The private equity consortium has offered 180 senior Qantas management $110 million should the bid be accepted by Qantas management and the bid ultimately succeed. This is on average $611,000.00 payment per manager.
A large component of the finance being used to purchase
Qantas is borrowed money. There is lots of borrowed money.
Qantas’ debt levels are expected to double if the takeover is successful. Qantas workers have a right to feel cheated after years of Qantas demanding wage restraint from its workforce to reduce debt and to allow the purchase of new planes.
It is likely that Qantas’ credit rating will be downgraded if the buy-out succeeds. In the past Qantas has demanded job cuts and wage restraint, in part to protect Qantas’ credit rating. When millions of dollars are dangled in front of Qantas management, high debt is suddenly not a concern???
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If you look at the bigger picture you only have to ask yourself a few questions.
Who is the winner if the takeover is allowed?
Who will stand to lose with any takeover?
I think the answer to the first question is self apparent and the answer to the second question is the staff and the Australian public.
Now is the time to phone your local Federal politician and say that if they are a coalition member you will vote against them at the next election if they go along with the takeover.Hit them where it hurts and that is their re-election prospects,it is the only thing politicians care about.
If your Federal rep is an opposition member then tell him/her that you are a life long Liberal voter but will vote for Labour if they kick up enough of a stink about the election.
If Costello thinks there is enough mileage in this issue he might block it especially if he thinks it might win him some support in ousting Howard.
Qantas is an Australian icon ,whats next? Will Iemma sell the Harbour bridge to raise money for some other policy.Just look at how much a coffee costs in the terminal and you understand why everyone is fearful of an airline run by the same people who own the terminal.
In Darths interview last night he has been asked to stay on …so much for his statement that he could not guarantee his own job security.The part I really liked was the hug and kiss between MJ and Darth,she was so happy she was almost crying ,they have finally got what they wanted.In fact MJ said that the share holders should be happy because they are getting a good price on their shares.
Who is the winner if the takeover is allowed?
Who will stand to lose with any takeover?
I think the answer to the first question is self apparent and the answer to the second question is the staff and the Australian public.
Now is the time to phone your local Federal politician and say that if they are a coalition member you will vote against them at the next election if they go along with the takeover.Hit them where it hurts and that is their re-election prospects,it is the only thing politicians care about.
If your Federal rep is an opposition member then tell him/her that you are a life long Liberal voter but will vote for Labour if they kick up enough of a stink about the election.
If Costello thinks there is enough mileage in this issue he might block it especially if he thinks it might win him some support in ousting Howard.
Qantas is an Australian icon ,whats next? Will Iemma sell the Harbour bridge to raise money for some other policy.Just look at how much a coffee costs in the terminal and you understand why everyone is fearful of an airline run by the same people who own the terminal.
In Darths interview last night he has been asked to stay on …so much for his statement that he could not guarantee his own job security.The part I really liked was the hug and kiss between MJ and Darth,she was so happy she was almost crying ,they have finally got what they wanted.In fact MJ said that the share holders should be happy because they are getting a good price on their shares.
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Twiggs ,
The reason I edited the part about a 46 hour slip is that I did not want the moderator to delete the post as I imagine you must ask him to do that a lot.
However since you are obviously from another planet can you explain how you can only have one sunset or nightime in 46 hours unless you are slipping at either the north or south poles or very close to them?
By the way don't pm me I'm not interested
The reason I edited the part about a 46 hour slip is that I did not want the moderator to delete the post as I imagine you must ask him to do that a lot.
However since you are obviously from another planet can you explain how you can only have one sunset or nightime in 46 hours unless you are slipping at either the north or south poles or very close to them?
By the way don't pm me I'm not interested
Join Date: Aug 2005
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Costello is the man who you need to lobby as he is the one who will have the ultimate say on the conditions of the sale. He is no friend of Q.F's either .
I remember reading how he missed the big meeting in Canberra regarding Ansett's demise ( due to fog )and how he was "incandescent with rage" after Howard took the advice of one Max Moore-Wilton , who happened to be great buddy of Dixon's , that effectively sunk Ansett.
Just because Q.F is an Aussie icon don't think it is immune from cost cutting by new overseas owners. Just ask anyone who worked for Arnott's , Speedo, Kraft , etc etc.
I remember reading how he missed the big meeting in Canberra regarding Ansett's demise ( due to fog )and how he was "incandescent with rage" after Howard took the advice of one Max Moore-Wilton , who happened to be great buddy of Dixon's , that effectively sunk Ansett.
Just because Q.F is an Aussie icon don't think it is immune from cost cutting by new overseas owners. Just ask anyone who worked for Arnott's , Speedo, Kraft , etc etc.
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Remember wolfman, we are talking local nights as defined by our EBA, ie at least 8 hrs between 2200-0800, NOT sunsets or whatever other definitions you can think of that are not relevant.
example, arrive somewhere, say, Monday night signoff 0030, depart 48hrs later, ie sign on 0030 Wednesday night.
Monday night is not a local night, less than 8 hrs from 0030-0800.
Tuesday night is a local night.
Wednesday night is not a local night, less than 8 hrs 2200-0030.
Result: only ONE local night in a 48 hr slip.
I only sent the PM to save the rest of the community the pain of having this ridiculous argument brought up again.
I'm glad you agree that the job is about the destinations though.
example, arrive somewhere, say, Monday night signoff 0030, depart 48hrs later, ie sign on 0030 Wednesday night.
Monday night is not a local night, less than 8 hrs from 0030-0800.
Tuesday night is a local night.
Wednesday night is not a local night, less than 8 hrs 2200-0030.
Result: only ONE local night in a 48 hr slip.
I only sent the PM to save the rest of the community the pain of having this ridiculous argument brought up again.
I'm glad you agree that the job is about the destinations though.
Last edited by twiggs; 15th Dec 2006 at 03:28. Reason: apology because I used the 48hr example instead of 46 but you get the picture
