Tag Archives: Qantas

Pointing where?

An interesting article is hitting the Guardian, the title ‘Child poverty rise across Britain ‘halts progress made since 1990s’‘ (at http://www.theguardian.com/society/2015/jun/20/child-poverty-rise-uk-halts-progress-charities-claim) is hitting out at choices made, and let us be frank here, we have to point at certain actions and certain choices, but are we pointing at the right one?

In this both Labour and Conservatives are at fault. My own party of choice has made choices (bad ones) in the past, yet is the bedroom tax and are the benefit cuts truly the reason? They might (they do) have an impact, but are they the factors that are central in all this?

The quote “Child poverty is on course for the biggest rise in a generation, reversing years of progress that began in the late 1990s, leading charities and independent experts claimed on Saturday” is important. you see, at minus one and a half trillion cuts need to be made, in all this we need to see that unless the Commonwealth take responsibility in getting a budget, we are all doomed, the children aren’t even the first one to feel this. Both sides of the political isle have squandered their duties to a larger extent. Now, even though the conservatives are working on fixing this, we cannot ignore that certain damage was done under leadership of The Right Honourable Sir John Major. You see, the budget is set on two parts. What is spend and what is received.

It is the ‘what is received’ that is now a global issue. As individual governments were so eager to see industries grow, they decided to give tax breaks as an incentive. It did work, but guess what, it lowered the maximum received coins, which at that point was not a biggie. Now, we have created a different behemoth, as globalisation started stronger in 2002 onwards, no one (me blaming BOTH sides here) was looking at the cookie jar and wondering how continuation of feeding the future would be ensured (or is that insured?). No, many politician went by ‘if it ain’t broke, don’t fix it‘, which gave us a different scenario after 2004. When the banking crises hit, it hit every shore on a global scale. So large corporations decided to maximise their ‘interests’, which I see was divided between shareholders and personal commissions, many combined, merged and used every tax break possible to avoid taxation. Now consider in an age of industry that the largest player (the industry) does not get to be held accountable for the needs of governing. They want their politicians in their pockets, their bonus in the other pocket and protection without invoice. They pulled it off because the parties on both sides did not correctly adjust legislation the way it had to be. Now, 11 years later, much of this legislation is still missing. The corporations see the sustenance of government not their responsibility, it is for the people, let them pay! They might not say it, but they will think it loudly!

So we have created a sea of chaos, and as the larger players avoid taxation, the people will end up with less. Now we get the quote “Ministers were remaining tight-lipped about the release on Thursday of the Ministers were remaining tight-lipped about the release on Thursday of the Households below Average Income statistics. Any increase in the number of children in poverty since 2013 would be an embarrassment. Child poverty fell from 3.4 million in 1998-99 to 2.3 million in 2010-11 – a reduction unparalleled in other wealthy nations over the same period – after the last Labour government promised to eradicate it by 2020. Any increase in the number of children in poverty since 2013 would be an embarrassment. Child poverty fell from 3.4 million in 1998-99 to 2.3 million in 2010-11 – a reduction unparalleled in other wealthy nations over the same period – after the last Labour government promised to eradicate it by 2020“, here is the second reason why Ed Miliband had no chance of winning, moreover, it shows a little more than that. The entire promise of child poverty eradication was never realistic to begin with. You see, by 2007 that given goal was no longer possible under both the economic meltdown as well as the tax evasion numbers, so did either Tony Blair or Gordon Brown inform the people that child poverty was there to stay? I have a hunch that this was not done. You see, ‘Households below Average Income statistics‘ is depending on income and cost of living. Income is still down due to past events, yet cost of living is going up and is going up slightly faster than wage corrections can provide for at present. So as we see these dwindling statistics, there should not be the wondering of how it is happening, we need to look at the way to deal with it. Lowering taxation is not a solution, it must be replaced by other means of taxation, which means that corporations need to pay their fair share, a part still not addressed. By the way, that part is also not addressed in Australia, as we see in the Australian Financial Review, the quote “The Business Council of Australia, comprised of the chief executives of big companies, cautioned the government that “global tax issues require global solutions”“, that the Business council of Australia is working for Global Companies, not for the Australian government. You only need to look at their board to see that they have the Managing Director of Rio Tinto Australia, the Chief Executive Officer & Managing Director of Qantas, the Chief Executive Officer & Managing Director of the Westpac Group, the Managing Director of Origin Energy Limited and a few more, all people very intent on paying as little taxation as possible, for the need of their shareholders and their personal bonuses. Guess, what, the Australian Financial Review does not really state that part, does it? No, they state “The Law Council of Australia has told the government not to enact the laws as they are currently drafted“, which might be a valid part, but valid to what extent? You see, last year I already stated part of the solution, make all purchases taxable at the location of the consumer buying it, or better the point of delivery. You see, the person buying the iTunes track, that video game, those bracelets or that suitcase is buying an item online, instead of in the shop. There might be valid reasons for why it was done, but it affects that nations GDP, so, as such, GST and other taxable parts should be paid there, not in Ireland or another low taxing nation. So, we do not begrudge the sale to be online, but on the same foot, just as a storekeeper pays its fair share of local taxation (read GST and such) the online store should do the same, it is just fair trade).

In all these years, those super clever members of the Law Council of Australia did not come up with this solution? If they did, why did the government not enact it? This directly reflects back to the UK. As taxation is now so unbalanced, the government is forced to scrap things.

No one is happy, everyone complains, but are they complaining in the right direction?

So as we see this article on child poverty, we also see the new Labour run “Yvette Cooper, who has put the fight against child poverty at the heart of her Labour leadership campaign, said the government’s record was a “damning indictment” of its approach and meant many children were being denied the start in life they deserved. “Their policies have delivered the biggest increase in child poverty in a generation and they have abandoned any pretence of even moving towards the target they promised to meet [to all but eradicate it by 2020].”“, no Yvette, this is not about ‘their’ policies, it is about your lack of realism, you should unite with the Tories to find the taxation that halts corporate greed and hold them to account for the protection they receive, the responsibilities that they should face, when that is correctly done, and as the coffers fill up again (move towards less or no debt), that you will see as a result that child poverty goes down again, yet as you ‘advocate’ your ego, realise that eradicating child poverty by 2020 was never realistic, getting it down by a lot is. By the way, whatever promise Yvette Cooper, or any other runner for the Labour Boss chair makes, make sure you realise that the pounding hammer of ‘interest payments’ is stopping many restorations in social projects, cutting and diminishing the debt is a first need, so as you contemplate that the next government should be labour, then also realise that they will spend it all again, they will do a ‘Gordon Brown’ on the treasury coffers! Now you, the reader, consider what is happening in Greece, when that hits the UK shores, it will be a massively larger and poverty will not be the nightmare. It will be that 23:00 news where they found a baby that starved to death, only because certain politicians had to feed their ego instead of realistic common sense. So where are we pointing? I want to point at a solution, which means properly fixing legislation, properly adjusting sentencing and fines. When you consider that some at the banks are still laughing at the 1.5 billion fine for Libor, than wonder how much they made. When the fine is 15 billion, they will wake up and stop feeding greed!

Oh, and before you think I have it simple, these cutbacks are hurting me a lot too, yet I realise that our future will depend on us not being in debt to the levels we are in now.

 

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Finding inspiration

The act to incite, perhaps even a form of stimulus. Yet, when we go back to a more theological page we see: ‘a divine influence directly and immediately exerted upon the mind or soul‘. So what is wrong with inspiration? You see whilst inciting could be seen to encourage a positive term, incitement is for the most ALWAYS negative. When we see incitement we see: ‘the action of provoking unlawful behaviour or urging someone to behave unlawfully‘, why not see incitement an act as to encourage positive change? Even stimulus is now nearly always seen as a negative. The stimulus package being a foremost example.

In an age where hardship rules, we could use a positive force, yet when we see that projection of feigned wellness is combined with managed bad news, what positive force could be atoned? This is the thought that has been in the back of my mind as I am completing my current assignment. A choice I made in the past, whenever I get one step forward, the next instance I am facing two steps back. This is perhaps just a situation that exists between my two ears (as we refer to mental issues).

Greece is not even the foremost example on my mind. There are other issues where we see a change on what is for some and will never be for most. The next part seems a little repetitive as I have mentioned these parts in the past.

  1. How is it possible?

Here we see a side of the world that seems out of context as per last year. Forever the oil prices were going up and up until it went beyond $120. Profits were astronomical. Now, as prices are just below the lowest basement, we see the following parts (at http://www.theguardian.com/business/2015/apr/26/bp-profits-down-still-in-deep-water). “It’s a big week for big oil, with both BP and Royal Dutch Shell reporting results. Despite crude prices hitting a 2015 high at the end of last week, they are still almost 50% down since last June, which means continuing trouble for the businesses“. Now consider the reality. Take a litre of crude oil, ½ becomes Petrol, one third becomes Kerosene and the rest goes into dozens of other products. Now consider the history of your shopping. Since 2008 (and since the oil drop of 2014), when did your petrol price go down and by how much? Jet fuel should go down, yet Virgin, Qantas and others are keeping the Jet fuel surcharge in place. So at present we have accounted for almost 85% of the crude oil, the rest goes into products like soap, Vaseline and other carbon based artefacts.  None have ever made a decent downgrade in price. However, the article claims on such hardships even though the price of the raw resource is still lower than ever. So what stories are we being told? Are the oil companies guilty of incitement to exploitation?

  1. How are we in this position?

Here are 8 mergers for last year, several more are to come and hundreds more have passed and a fair amount of mergers are set at mega billions, several in the pharmaceutical industries.

Lets take a look at a few of the 2014 mergers: Value: $67.1 billion, May 18, 2014, Value: $46.8 billion, June 15, 2014, Value: $46.8 billion, April 7, 2014, Value: $25.3 billion, February 18, 2014, Value: $23.6 billion, March 11, 2014, Value: $19.4 billion, February 19, 2014, Value: $17.1 billion, April 30, 2014, Value: $16.01 billion, January 13, 2014. Total $262 billion. Now consider that these mergers are for the most tax-free when they are seen “as reorganizations through acquisition. Under this model, companies must swap, rather than outright sell, assets and equity such that the two companies end up becoming one new company with an agglomerated store of assets and equity“, that is very nice for the boards of directors and as multiple borders are broken, many options (highly complex ones) open up to maximise non taxability. Yet, many governments have done next to nothing to curb this form of greedy exploitation at the expense of the local governments whose protection they enjoy and the exploited workers who are left at the short end of the stick in many cases, again and again. There is often little consequence for the acquiring party will soon find themselves in an upward reorganisation, but the other party is more often than not in a less positive position, which is the way of the world, I will not oppose the issue of reorganisation and acquisition, yet the laws have been bend beyond reasonable. In the near past there was a level of equilibrium, as the governments got a slice of that pie. Now, as too many levels of non-taxability are offered, we see a completely unbalanced view of life, to a smaller part in regards to rich industrialists, but to the largest extent to a whole score of enabling politicians with a limited sight to the future whilst blind staring to what was in the past the ‘now’ and never to adjust the future of what should be.

We are all feeling these shortcomings now, Greece a lot more than the others I might add!

Now we get back to Greece for one simple example. The one thing Greece had to do for well over a decade is the step only taken (if we can believe the press) only last week (at http://www.newsweek.com/greece-launches-frantic-crackdown-tax-evaders-ahead-repayments-324927), here we see the story of Leonidas Bobolas, arrested and not to be released until back taxation had been paid. Some might think it is a solution, for me and many others it is a final desperate act by a government that did not take things serious until it was too late. This must be a laughing moment for Kostas Vaxevanis, whose list must be very important at this moment, but there is every chance that the truly big rollers are getting away with it all and more important, the money that will be gotten here is nowhere near the amount required for the payments over the next 16 weeks. It is the final spasm of a nation that has every real danger of becoming extinct a second time. New Greece might soon join Ancient Greece as it becomes forgotten, slowly but surely.

OK, I admit that this future is unrealistic (not to mention vastly exaggerated), but is that not how the Greeks currently feel? A system so broken that the people are suffering. The place where Democracy was born by the mind of Aristotle. It was the foundry where the Olympic Games were devised, yet in all its social paths, the one path forgotten was the safety of the Greek future. Why will this tax evasion path fail? Well, consider that Leonidas Bobolas is ‘regarded’ as one of the large evaders, now consider that his due taxation was less than 2 million Euro and add to this the following quote: “Government data suggested that some €70bn was owed in unpaid tax at the end of 2014. Transparency International found the country’s opaque tax code and corruption of tax collectors meant evasive tax arrangements could be set up for as little as €100“. To get to 70 billion, they would need at least 55,000 tax evaders, all due 1.5 million, now consider the Kostas Vaxevanis list that covered less than 2100 names. The amount due cannot be met, not even close through this way. In addition we see even more posturing of inaction. This comes again from Yanis Varoufakis who stated: “one of the key reforms the government was proposing was the creation of a fully independent tax commission to tackle the problem“. I would personally translate this into a delay of up to 24 months with no actual actions at all. This one arrest is just for show as I see it, a few more will make headlines, but in the end, the funds will not be there on time and we can state that clear evidence of inaction from the Greek government is a mere display of fact.

Why mention Greece?

Greece is at present the extreme example, but not the least of the issues. It shows a governmental failing that is present all over Europe. Greece in its position is only the first one to visibly no longer manage its upcoming bills. The majority of European nations have maintained an inability to manage budgets, which is the second tier in this. As these governments make new mentions of ‘stimulus’ as a solution, it only masks an inability of forward momentum, whilst on the other side of that formula we see governmental spending sprees that cannot be covered in any way, shape or form. One example is the Dutch Stimulus package of 2009, one document (at http://ec.europa.eu/economy_finance/economic_governance/sgp/pdf/20_scps/2009-10/01_programme/nl_2010-01-29_sp_en.pdf) forecasts a GDP growth of 2% in both 2011 and 2012, a number that would never be achieved, in the end, the growth would be -0.2% and -0.6%, the year after that it was -0.8%, we can speculate that without the stimulus it would have been worse, which is a likely result, but the fact remains, how well are the people off? Let’s not forget that stimulus packages are basically loans, the interest on those billions go somewhere, so in the end the people pay! France with its 26 billion package in 2008 would not see a positive jump until late 2013, then only 0.6%, after that until 2014, France only marginally kept its head above water. Italy does not even get close to those numbers and only had one moment in 2013 where they were positive at 0.1%, the rest is all negative. They pushed in a mere 9 billion. So with three nations, Europe has spent 44 billion and no real results to show. It could be debated as I stated earlier that the state of affairs for those nations would be a lot worse, I could agree with this on the mere premise of the thought. Yet, the one issue that should have been done, namely proper budgeting has not been achieved by any of these nations for over a decade and debts are stockpiling. This has been at the centre of my considerations for a long time.

 

Whether this is mere bad budgeting or a completely unbalanced system where corporations have been uber enabled, whilst their rights are not questioned is another matter entirely. In that regard we have the HSBC view (at http://www.theguardian.com/business/2015/apr/24/hsbc-warns-it-could-leave-uk-over-eu-referendum-uncertainty), where the option of the UK leaving the Eurozone would make HSBC move offices to other shores. Yet, when we google this bank we see articles on how they pay millions and millions less than expected. Now, these articles are not the ones you should have too much faith in, but with this much smoke, the question becomes, were tax bills burnt? I am willing to partially ignore the Swiss scandal as this is only one instance, it is the overall picture that goes far beyond just the HSBC. When we consider Libor, the fines of billions that followed with banks all over the world, we see that populations all over Europe, even on a global level are denied the funds for their support that they should be entitled to. Yet, the paths taken now are also questionable. I support to the larger extent both the Conservative path as well as the Australian Liberal party. Here we see a protection against naming apparent tax-dodgers. My reasoning? If a company engages in legal paths for revenue and investments whether on shore or offshore where the tax laws allow for it, the companies who are creative enough to exploit the loophole shouldn’t be punished. This is at the core of the issue, the tax system has to be fixed and altered. Yet, as we see with HSBC, politicians are often too scared for their own political hide (as I personally see it) and will push forward any tax change. This has gone on for over a decade and many changes are yet to be properly addressed. This is at the heart of the matter.

In the end, what is the wisest of actions? To cater to HSBC and mind liking parties that seem to pay the minimum in taxation, whilst at the same time, the millstones of debt are dragging down all European nations? The UK might have the highest European debt (1.7T), yet the path that the conservatives have taken its population has the best options to lower the debts whilst offering a modest growth. The inability of the other European nations to adhere to this is only one of several factors. Greece is now becoming a larger issue as their timeline of pushed from April to May and now we see the mentioning of June by Yanis Varoufakis: “We wish to merge the current review with the June agreement“, which is now a more pressing issue as the voters in May would steer fast into a direction many will not like, this is the danger, as emotion drove Greeks towards Syriza, that same dangerous move could push the UK voters stronger towards UKIP and the Euro exodus that could follow. Another version where we see a legal incitement away from the Euro, there is no inspiration, just a need for what could be regarded as ‘false sense of security‘. That danger only increases when we consider the next quote: “Tsipras said he was optimistic an interim agreement would soon be reached. But Greeks know another bailout will be needed even if the short-term €7.2bn is secured“, that part and the inability of the Greek government to seriously commit from day one is at the heart of all this.

A need to incite a tax system that works more honest towards the nations that give ‘free’ protection to the corporations that seem to shun a moral refinement is needed. Not just for the UK, but for all European nations. Yet, will this happen? This is the question we should ask when we look at the papers from the IEA (Institute for Economic Affairs), where we saw on December 1st 2014 the following quote: “Despite the Conservative’s pledge to raise the threshold to £50,000, over 5 million taxpayers will pay the higher rate of income tax by the end of the next parliament. Indeed, it is likely that the number of higher rate taxpayers will continue to increase even if the threshold is raised“. I question the spirit of this. You see, the groups are 24.1 million in the basic rate and 4.5 million in the higher rate (source: UK Statistics Authority). I do not deny these numbers, yet, raising the threshold will force other measures too. A more immediate and more just move would be to increase the 0% rate from £10.6K to £13K, which will also benefit the higher rate to some extent (£2.5K less taxable), after this I personally advocated raising both groups, the Basic rate +1% and the higher rate +2%. he reasoning is simple, in the end a budget has to be met, even though we see these ‘holier than thou‘ groups all moving for more tax breaks, yet, in the end, until tax loops and tax havens are dealt with, the tax coffers will remain massively underfunded. Let’s not forget that the UK has to meet a 1.7T issue, all using official bank notes with the ‘£’ symbol (replacing IOU’s in place). If the IEA really wants to push certain tax shifts without properly balancing the equation, we will see a push for drastic austerity sooner rather than later. It is not a mere guess, it is an outcome of mathematical certainty. Only after a serious dent has been made in the total debt, then it would be possible to consider a change. All this is now endangered when we see ‘promises’ by Ed Miliband as he states: “Labour will pledge to deliver a surplus in the current budget as soon as possible in the next parliament. This could allow the party to borrow to fund capital investment for infrastructure projects“, so a surplus and MORE borrowing? So basically he will likely spend his budget and the budget of the next administration in one go. The UK is still dealing with the borrowing acts of a previous governing labour. I see at the heart of ANY government at present, the need to borrow ZERO, whilst still reducing the overall debt to some degree (not possible to state by how much), this is the only way to incite true growth, to inspire a growing economy and to stimulate some version of ‘quality of life’. There are a few steps that any of the elected parties could do, but that requires vision, I have some answers, but filling that solution will take a different view, not one of borrowing, but one of an adapted vision that allows for new growth by changing the equation of costing, a different approach to a changing world where the UK moves ahead stronger still, which will be good for the entire Commonwealth at large!

An act to incite stimulus through Inspiration, a positive wave not based on pre-spending.

 

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What goes up…..

The next blog has been bumped to the next blog, mainly because Sky News was kind enough to show the snivelling cry story (me now playing the world’s smallest violin), by the ACTU secretary Dave Oliver, yes, the text in the background ‘join for a better future‘ reads nice, but the story he is giving is intentional misdirection. Holden and Toyota did not leave overnight (which was discussed in my blog on February 12th called ‘The last Australian car‘), this was planned for a long time, as such, what he now calls ‘the opposition’ was at the centre of this entire mess.

When we hear statements like ‘everything is on the table‘ then that person is already deceiving us all. So let’s take a look at some of the things stated at http://www.skynews.com.au/businessnews/article.aspx?id=955273.

Qantas has asked the government to change the Qantas Sale Act to allow more foreign investment arguing the strings attached hampered its ability to compete on a level playing field with its rivals“, which makes me wonder how this remains an Australian icon to begin with.

Some aviation analysts argue the best option for Qantas would be to split the company into three separate companies: domestic, international and ancillary services such as the Frequent Flyer program and freight“, which reads a lot like the ‘bad bank’ solutions we have seen all over the global financial sector, which in the end leaves the taxpayers with an unfair bill.

The Australian gave us (at http://www.theaustralian.com.au/business/aviation/pm-failing-australian-workers-on-qantas-actu/story-e6frg95x-1226844413018) the following statements.

the headline is already a first “PM failing Australian workers on Qantas: ACTU“, this is followed by “How did it get to the stage where our Prime Minister won’t even stick up for Australian jobs?” and “Australian unions will meet with Qantas CEO Alan Joyce this week to seek a commitment to minimise job losses, following the airline’s announcement last week it would slash 5000 jobs“.

So, let’s take a look at this all. From the first moment, with all due respect, This Dave Oliver comes across as a man born not too bright and he stopped evolving after birth. Why is this my personal view? You see, one should always keep an eye out for the reasoning. Without that, we have nothing but noise.

First the income side as it was reported by the Herald Sun last September 7th (at http://www.heraldsun.com.au/business/qantas-freezes-pay-of-chief-executive-alan-joyce-but-offers-him-1m-in-bonuses-and-shares/story-fni0dcne-1226713613053), where we see the following: “Mr Joyce’s base salary for the year to June remained unchanged at $2.109 million. But a cash bonus of $775,200 and $387,000 worth of deferred share payments bumped the total remuneration package up to $3.3 million for the year. Mr Joyce gave up his bonus the previous year when Qantas reported its first annual loss since privatisation. The airline, which last week reported a wafer-thin full-year net profit of $6 million, said a general freeze on executive management pay would apply over the coming year“.

So basically, an airline, this large, reports (according to the Herald Sun), a full year Net profit, twice the amount the CEO made in a year. So, the income of the CEO was 50% of the NET profit. This was in the era of labor and this is not inviting any clear statements of outrage or disgust? Let us not forget that the tier of high executives would have been less, but still substantial, which in my view becomes that the Net profit of Qantas was in 2013 a lot less than the income of the board of directors alone. which makes us wonder on how 7 high executives are save whilst 5000 jobs are forsaken to other areas. The positive news was 11 days before the Liberals came into office, and within three months, Qantas analysts ‘suddenly’ misplaced (or lost) a quarter of a billion dollars, how convenient. So Mr Dave Oliver, why do you not stop crying and take a long gander towards this obnoxious fact?

It is not the job of the government to provide for free slave labor (through financial incentives to big business for keeping jobs), mainly because this is Australia!

This all takes another tumble when we see the news (at http://www.news.com.au/travel/travel-updates/qantas-to-cut-1000-jobs-as-ceo-alan-joyce-takes-pay-cut/story-e6frfq80-1226775800430), where we see the following “Mr Joyce’s $3.3 million pay will be cut by at least 38 per cent this financial year because of the airline’s poor performance – which would leave him with a $2 million pay packet” this was on December 5th 2013, in less than three months they went from plus 6 million to: “Qantas said it expected to report an underlying before tax loss of $250-300 million for the first half of the 2013-14 financial year“, which gives us two points at this precise moment. The first is that in my view, the September report was feigned positivity as we were set up for the bad news blows. When you go from +6 million to minus three hundred million you better believe that we the readers and we the workers are getting played. So at this point Mr ACTU, would you like to please change your view from Australian Icon to Australian joke? When a company makes this fast a tumble, there is clear mis-management, mis-representation and mis-organisation, whilst the labor government was run by Miss-NotAllThatInformed (in those day referred to as ‘prime minister’). So whilst Dave Oliver is presenting under the veil of violins speaks out for all those poor poor workers, he should better realise and change his tune to make it sure that this was bungled by labor, for big business and 5000 workers are about to pay a hefty price for such levels of negligence.

So what about Tony Abbott?

Should a government give out a debt guarantee, whilst there is a decent amount of clear evidence that this money could be lost overnight? It is not for the Australian tax payers to lose this amount of money whilst the Qantas top will walk away with millions and with new foreign investors there is still a likely chance that many jobs will go overseas (why else would they invest in the first place). It is also the case that in that same news message (from December 5th) that former Qantas Group Chief Economist Tony Webber left the message that it was too late to help the ailing airline. Is he correct? I am not sure, but I feel certain that he would know a lot more of the Qantas finances then either the ACTU, the ATO or the other interested parties in forcing the hand of government to sign a debt guarantee. The fact that Tony Webber is now managing director of Webber Quantitative Consulting and Associate Professor at the University of Sydney Business School, gives more weight to the value of his statements then the feigned spoken outrage from some of the other players (even if he is not a UTS professor) ;-).

This situation as we ‘suddenly’ see the Qantas debacle was not grown overnight. This has been a failing business dimension for well over a year, because $300,000,000 is not lost overnight, it had to have been known for some time.

 

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