What made you feel good today?

[Trendseeker]

Originally Posted by FoxtrotGolfXray 5.0

I've never understood the reason why so many people dislike for Joyce. Sure, he can be like a politician, but what large company CEO isn't? I also can't understand why people have an issue with Qantas making money: that's what every business is out to do. Sure, there's a balance point between outright greed and making money, but it seems to me that he's done a reasonable job.

I'd be interested in the views of those who don't like him and why. (Keeping it respectful, of course.)

1. He sent maintenance jobs offshore.
2. He changed many permanent full time jobs to contract work, reducing pay for the staff who had to reapply for their jobs.
3. He reduced staff benefits.
4. He allowed service levels to deteriorate all over the place. Late and cancelled flights as well as the flights that had to turn back after several hours due to mechanical issues.
5. He cried poor during COVID, convinced the government to shore up the company with public funding, and now, when declaring a big profit, is refusing to reimburse the public purse with any of the money.
6. He oversaw a scheme to sell tickets on cancelled flights and now the ACCC is threatening to hit QANTAS with huge fines.

What’s wrong with any of that, you say? He was just doing his job to reduce operating costs and boost profits?

Well, while he was doing all that he was increasing his own pay and benefits to ridiculous levels, way beyond what many other CEOs earn. Others had to make the sacrifice, not him.

And now that the ACCC is coming after QANTAS, he is heading for the door, but not before he awards himself another $10M in shares.

https://www.smh.com.au/business/comp...01-p5e198.html

The whole QANTAS board ought to follow him out the door.

I don’t work for QANTAS or own any of their shares. I just don’t like CEOs like him.

[DFB FGXR6]

This should probably go in the music thread, but my week has been terrible, this is probably the only thing I have felt good about..........

[FoxtrotGolfXray 5.0]

Fair enough. But some of those things don't appear to be unique to Qantas or Joyce specifically and I don't see the same level of dislike for other organisations or specific CEOs.

I've responded to some of your points.

Originally Posted by Trendseeker

1. He sent maintenance jobs offshore.him.

Many large Australian companies sent some of their services off shore. Telstra call centre for example. I'm not saying it's right or I agree with it, but it's not just Qantas that has done this.

Originally Posted by Trendseeker

4. He allowed service levels to deteriorate all over the place. Late and cancelled flights as well as the flights that had to turn back after several hours due to mechanical issues.

Hardly Joyce's fault. The vast majority of those incidents were the media blowing things out of proportion. Particularly the event at Alice Springs. People have no concept of spare part distribution for aviation if they expected any airline to have had the right spare part needed to return that aircraft to service sitting at Alice Springs waiting for them.

Originally Posted by Trendseeker

5. He cried poor during COVID, convinced the government to shore up the company with public funding, and now, when declaring a big profit, is refusing to reimburse the public purse with any of the money.

Many businesses got handouts during the covid pandemic. Yes qantas got a massive sum compared to others and yes there was a call for those organisations to repay the handouts, but I don't recall that eventuating. Nor do I recall any CEO being called out for it like Joyce is.

Originally Posted by Trendseeker

6. He oversaw a scheme to sell tickets on cancelled flights and now the ACCC is threatening to hit QANTAS with huge fines.

All alleged and yet to be proven. If its proven, then yes, I agree that's not good at all. But let's wait until its proven.

Originally Posted by Trendseeker

Well, while he was doing all that he was increasing his own pay and benefits to ridiculous levels, way beyond what many other CEOs earn. Others had to make the sacrifice, not him.

He doesn't determine his own pay. It's the board that does that. Could you imagine the conflict of interest if any CEO determined their own pay!?!

Originally Posted by Trendseeker

And now that the ACCC is coming after QANTAS, he is heading for the door, but not before he awards himself another $10M in shares.

He announced his departure from Qantas months before any announcement from the ACC. IIRC, he announced his stepping down back around May?

And, again, he doesn't award himself shares. I think what you'll find is that he has sold shares that he earned as being the CEO over the last 15 years. And those shares would have been apportioned to him in accordance with his remuneration package endorsed by the board.

Originally Posted by Trendseeker

I don’t work for QANTAS or own any of their shares. I just don’t like CEOs like him.

Your perogative to not like him. It just seems to me that he is targeted unlike a lot of other CEOs. Is this tall poppy syndrome? I'm not sure.