QANTAS077 From Australia, joined Jan 2004, 5871 posts, RR: 38
Reply 7, posted (7 years 10 months 6 days 21 hours ago) and read 3714 times:
as a shareholder who voted yes and had 2nd thoughts and voted no last week I'm glad it fell over...it had no choice but to fail, I can survive without the small gain! but I do think Dixon should remain as the man in charge of QF.
[Edited 2007-05-04 14:00:01]
a true friend is someone who sees the pain in your eyes, while everyone else believes the smile on your face.
This is one Airliners poster who'll sleep well tonight!
Surely this means that Dixon and the rest of the Board needs to step aside? They've lost a lot of credibility over the past few months.
Well if its true then I've been right all along in thinking a) it was a bad idea, and b) it won't succeed.
Margaret Jackson most definantly has egg on her face after being greedy. She might as well resign first thing Monday morning rather than dragging it out. I would expect Geoff Dixon to stay on until a successor is found but for him to also resign as soon as practicable.
There is no way that buying an airline up using loans to be loaded onto the airline itself to the tune of $4 billion would ever be a good thing for that airline. Qantas is an Australian icon and it would be a shame if that had happened as it would almost certainly result in the airline almost destroying itself. This is something that Qantas would not ever recover from with such strong and deep pocketed competitors as EK, SQ etc etc.
ANstar From United Kingdom, joined Nov 2003, 5350 posts, RR: 7
Reply 10, posted (7 years 10 months 6 days 21 hours ago) and read 3538 times:
Qantas chief executive Geoff Dixon has declined to offer his resignation, saying it was up to the board. As for his fellow executives Mr Dixon told smh.com.au: "The management team are all individuals. They can make make any decision on where they could go.''
The Qantas board will hold an emergency meeting tomorrow. Qantas chairwoman Margaret Jackson is expected to come under intense pressure to quit, given her strong endorsement of the private equity bid.
Shareholders such as Balance Equity Management and UBS Global Asset Management which rejected the offer, believed Ms Jackson and her board caved in too easily to the APA a share offer.
Baroque From Australia, joined Apr 2006, 15380 posts, RR: 59
Reply 12, posted (7 years 10 months 6 days 20 hours ago) and read 3513 times:
Quoting QFFan (Reply 2): I tend to think that Dixon will keep his job in the short term, given that he has steered the company to 3 recent profit upgrades.
He might like to front up to a suitable group of shareholders to negotiate a new AWA, preferably on Sunday before Howard's latest changes take effect, as they might apply in this new world that has just dawned.
I wonder what the next excitement will be in the saga that bids fair to match Ethel the Aardvark goes quantity surveying.
Curmudgeon From Australia, joined Oct 2006, 695 posts, RR: 22
Reply 13, posted (7 years 10 months 6 days 20 hours ago) and read 3427 times:
Tonight I shall sleep the sleep of the just. I am so surprised and delighted that this bid has failed, and with it the board and senior executives (soon, very soon). Couldn't have happened to a nicer company.
StealthZ From Australia, joined Feb 2005, 5784 posts, RR: 43
Reply 18, posted (7 years 10 months 6 days 20 hours ago) and read 3379 times:
Whilst I tend to agree with those taking some glee from this outcome..
I think it was almost a forgone conclusion at the price.
The increase in value of the ASX since the bid was announced... the increase in airline stocks, just a tad under valued.
Doubt we have seen the last of this story!
If your camera sends text messages, that could explain why your photos are rubbish!
Curmudgeon From Australia, joined Oct 2006, 695 posts, RR: 22
Reply 20, posted (7 years 10 months 6 days 20 hours ago) and read 3348 times:
Quoting Baroque (Reply 14): Wipe that smile off your keyboard my dear Curmudgeonly perbody!!
I can't, Baroque. The glass of Laphroaig is going down especially well tonight. If I were with like minded souls it would be my shout for the bubbly.
Quoting BNE (Reply 15): Not surprised the bid failed. In the short term I am sure the Qantas share price will go down.
Yes, I agree, and expect to see $4.80-$4.95 quoted on Monday. I certainly hope that the market eventually realises that the company is worth $5.50 in good hands. (Although I have been saying $6.00 for a couple of years now).
Ahead will come the expected departure of the board, followed by Dixon and Gregg later in the year. Having a person with a less callow and craven vision at the helm will be a tonic for QF. I hope that the new board can sit quickly and act with dispatch. Time to get on with being an airline again rather than merely a token on a gaming table.
Zeke From Hong Kong, joined Dec 2006, 9489 posts, RR: 76
Reply 21, posted (7 years 10 months 6 days 20 hours ago) and read 3345 times:
Quoting ANstar (Reply 10): Shareholders such as Balance Equity Management and UBS Global Asset Management which rejected the offer, believed Ms Jackson and her board caved in too easily to the APA a share offer.
On TV in Asia one of the industry analysis said that SQ and CI were interested in purchasing QF from APA...... would have put the cat amongst the pigeons.
We are addicted to our thoughts. We cannot change anything if we cannot change our thinking – Santosh Kalwar
Flyboysp From Australia, joined Apr 2007, 740 posts, RR: 0
Reply 22, posted (7 years 10 months 6 days 19 hours ago) and read 3328 times:
This is a result a majority of A netters and probably a majority of Aussies had hoped for. As for the board, i expect/want Jackson to get her marching orders or resign. I'm thinking she'll be out somewhere from a few days to a few weeks with a real BS excuse , depending on how much QANTAS start trading at on Monday. As for Dixon, i think he will leave at a time that suits him , which hopefully wont be long
Revelation From United States of America, joined Feb 2005, 13251 posts, RR: 25
Reply 24, posted (7 years 10 months 6 days 19 hours ago) and read 3259 times:
Quoting ANstar (Reply 10): The Qantas board will hold an emergency meeting tomorrow. Qantas chairwoman Margaret Jackson is expected to come under intense pressure to quit, given her strong endorsement of the private equity bid.
Somehow methinks the lovey will end up with some sort of golden parachute to cushion her landing: the executive class types take care of their own, even when they screw up royally.
Inspiration, move me brightly!
: Good news I hope this bodes well for a free and independent Qantas for a long time to come. I would have expected a merger with one of the Asian airli
: Very true, but they would then get access to the pacific, with code share flights, and even possibly placing SQ aircraft on the route.
: The sweetest thing about this whole takeover bid was the defeated look on JD's face. Oh how sweet it is! Couldn't have happened to a more deserving p
: I have to wonder just how many Qantas employees will still be smiling in 12 months from now?? With the vultures circling, the maint sure to go offshor
: ...hopefully not from these chaps...from the article above... "APA is not expected to return with a higher offer. Consortium member Macquarie Bank sa
: SQ (or CI's) ability to offer SQ coded flights between Australia and the US would require traffic rights be granted by both Australian and US governm
: That might be true, but it might also be a result of the media understanding just how "flexible" the current government can be if it comes to a rule
: I understand that fully, but as a major shareholder they could influence QF not to object to an application from SQ. BTW SQ does have the right to op