tip off

Tips and rumours

Qantas management cull? … Alan Kohler turns to advertising … Oscars star meets Bob Katter (!) …

From the Crikey grapevine, the latest tips and rumours …

Qantas cuts: management first? Qantas boss Alan Joyce is standing firm, but what about his key lieutenants? The word from one mole is Lyell Strambi, CEO of the domestic airline business, will go first, followed by Simon Hickey, who runs the beleaguered international arm. “Joyce is attempting to stamp out any dissenting management,” says our source.

One person almost certain to be fired is whoever it was in the spin department that put out the press release on Monday stating Qantas wasn’t bothered by the carbon tax — Joyce now insists it’s “absolutely” a factor in the airline’s poor performance. According to The Australian: “It is understood Mr Joyce has blamed Monday’s statement on the carbon tax on a junior employee.” Surely, with 5000 heads on the block, that poor soul will be among the first out.

… and speaking of Qantas. We’ve heard from two savvy sources who have rushed to use up their frequent flier points due to the airline’s woes. One cited the closure of Ansett and the thousands of people who lost all their points as a result. Is there a trend on, or are our sources jumping the gun here? Aviation insiders, settle the matter for us.

Kohler v the government. “WRONG WAY GO BACK” was finance guru Alan Kohler’s message to Assistant Treasurer Arthur Sinodinos in a startling full-page ad across all News Corporation newspapers on Monday. From his crowded hat stand, Kohler had the Eureka Report cap on, the investment advice publication acquired by News Corporation in 2012 along with Business Spectator. Eureka has a financial services license, allowing it to give specific share recommendations; Kohler says the Coalition’s changes to the Future of Finance Advice reforms “simply encourage the industry to keep their advice general so they can get paid more by promoters of investment products, which is the exact opposite of what investors need”.

The ad, apparently, worked a treat: a rather odd press release from Eurkea this morning had the ABC money man exclaiming: “It’s an indication that print is not dead, because this ad really packs a punch … We’ve had tonnes of digital ads through the News Corp papers … but this has had real impact.” And, surely, at a discount rate to a News Corp employee?

Photo of the day. We say nothing …

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4
  • 1
    klewso
    Posted Thursday, 6 March 2014 at 2:06 pm | Permalink

    Scrap the C-tax and Qantas fortunes will soar. If they don’t, Joyce is playing Abbott’s game”?

  • 2
    Bill Hilliger
    Posted Thursday, 6 March 2014 at 5:18 pm | Permalink

    Qantas has a big problem; and its Alan Joyce. For Qantas its hard to soar like an eagle when its being managed by turkeys.

  • 3
    Dogs breakfast
    Posted Thursday, 6 March 2014 at 7:00 pm | Permalink

    The carbon tax was suggested as being around $106m for the year.

    Sure a substantial amount, but given the billions of dollars in Qantas, hardly a flea on the elephant.

    Add the $106m back in and they still suffered a loss, ergo, the problems are not related to the carbon tax.

    Just as the original press release said. Sack that man who told the truth!

  • 4
    Dogs breakfast
    Posted Thursday, 6 March 2014 at 7:02 pm | Permalink

    Great to see Alan Kohler’s involvement. The Arthur Sinodinos amendments are diabolical, and everyone in the Finance industry who isn’t a serial abuser of their customers should be supporting the original legislation, pre-Sinodinos suggested amendments.

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