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2011 October 29 — Why Now?
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In Other News

Well, now we know the name of the woman who created and was carrying what Barry Ritholtz called ‘The Greatest OWS Protest Sign Ever’. skippy reports that her name is Caitlan Curran, and she was a freelancer for public radio station WNYC until she told them that it was her.

The ‘whipped dog syndrome’ of public broadcasting is a thing to pity, but not to support. The PRI business program, Marketplace, took a different approach. They had a segment that discussed the contents of the sign seriously.

In case you haven’t been paying attention, Occupy Wall Street isn’t a political movement, nor is it affiliated with any political party. They are asking that the government return to its roots and represent the interests of the majority of the actual people in the country.

On a more political note, Badtux reviews Zero’s student loan plan. If you haven’t got a job, it doesn’t make any difference if you are given an opportunity to consolidate your student loans. I haven’t seen it mentioned, but normally there are fees associated with refinancing, and, given the example of HAMP, you probably have to be current on your payments to apply.

October 29, 2011   16 Comments

The 1% Are Clueless

Qantas, the Australian airline, has been in labor negotiations with its union over a new contract with the standard position that the airline has to cut costs, so the workers are going to have to sacrifice pay and benefits. Pretty standard starting position, but then it got very strange as ABC business analyst, Peter Ryan, notes: Grounding eroding Qantas’ reputation

Then there is increasing scrutiny of Mr Joyce’s $5 million pay deal approved by shareholders on Friday.

Even with a 71 per cent increase, Mr Joyce is a discount chief executive compared the $10 million his successor Geoff Dixon received in his final year.

But taking a significant pay increase while asking unions to compromise and to trade in traditional terms and conditions is raising the cynicism stakes with the government and general community.

That’s right, while asking for the workers to take a hit, he got a 71% raise to $5 million, and then he grounded the entire fleet, a lockout, stranding people all over the world.

Qantas is losing millions of dollars every day this continues. It is seriously annoying the customers, and the secondary vendors who serve those customers. I am trying to determine what Mr. Joyce hopes to achieve other than bankruptcy.

Virgin Australia is rushing to be ‘helpful’ to the stranded Qantas customers, and other airlines are ramping up to fill the opening, so other than losing market share, this makes no sense.

With thinking like this, the guy was being paid way too much before the raise.

October 29, 2011   9 Comments