the last para made me laugh for 10 min, from Aston (afr):
Any day now, Joyce will be paid a short-term bonus of up to $4.3 million for the year that ended on June 30 (in addition to 3.1 million Qantas shares, worth $18 million, under his long-term bonus and retention schemes). Does the Qantas board of directors, led by chairman Richard Goyder, really think it will meet public expectations – or indeed the shareholder expectations of industry superannuation funds – to let Joyce keep his short-term bonus in these circumstances?
If the directors think the market will cop that, they’ve lost grip of reality as acutely as Joyce himself. If they fail to claw back that payment, the Qantas AGM in November will closely resemble the economy class dunnies on the QF68 from Bangalore.
QAN Price at posting:
$5.82 Sentiment: None Disclosure: Not Held
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(20min delay)