Thursday, December 14, 2006


What the hell, The management at Qantas have agreed to be bought by a group called 'Airline Partners Australia' a bunch of faceless men who will now control our national airline. And all the minister responsible for this area could say was subject to compliance with regulatory blah blah blah and the share holders deserve a return on their investment. Again it is Macquarie bank behind this, the chief exec of Qantas is getting 60 million dollars for this deal so I wonder why the board caved in and sold. The chief exec is going to donate his 60 million to charity and in some way that will be alright.
So it is OK to fleece a major company of millions of dollars if you can be seen to be giving some of it to charity. Cause the CEO is not going to stop at the first 60 million he has many more where those were stashed.
The Macquarie pay their chiefs squillions and when asked just say that's what you need to pay them to keep good staff. Well try telling that to the hundreds of workers who will now get the sack so as to maximise profits to these new faceless owners. Not even a share holders meeting to air any grievances.
This government must take some of the blame for this they set up piss weak regulatory frameworks and then sit back and watch these companies get sold and their only comments are about market places and share holders.
If you want to run an airline and you have squillions to spend go make one for yourselves and try and make it profitable.

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