Who are you and what have you done with Couta? :):)
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I am curious, why do you think that was a disastrous mistake ? They got 33 cps for the initial tranche when the SP was much lower and recently sold the rest of 32 cps when again the SP is languishing in the low 20's, (last time I looked).
He called out the CEO as being incompetent, (6 years in the top job and all they can do is make losses in the most favourable conditions for airlines in half a century in FY16). Either the business model of VAH is systemically flawed, the CEO is doing a very poor job, or both, (I think both). Reading between the lines he probably resigned on the spot at a board meeting when the other board members wouldn't back him to fire the CEO, shows he's a strong leader not afraid to back his own strongly held beliefs and his strength and the courage he showed to back his own strongly held convictions is what got AIR disentangled from VAH.
The other thing is seeing as the board of VAH wanted to initiate a major capital raise and AIR had decided to sell their stake there was a potential conflict of interest if he had of stayed on the board...I believe from memory that was the official line of why he resigned but i'd imagine there might have been some slightly more colourful language used at that board meeting...overall, what's not to like ? The satisfactory end result, (in the circumstances considering the truly appalling financial performance of VAH), justifies the means, does it not ?
got my numbers wrong haha 1.76 is the resistance now as the consolidation was 1.76 - 180 now we have hit 1.76 which was the bottom of the consolidation and retreated. so needs to go above 1.76
It worked out ok in the end but it could have been messy in terms of the HNA share dilution(VAH)....Quote..If Air New Zealand had handled itself differently it would have had a seat in negotiating the new strategic partner. Instead, Luxon's resignation meant the airline lost any rights to be consulted on the HNA investment and strategic alliance....
I personally dont think its smart to burn bridges...just sayin
You've read all 313 pages Jantar!!!!:eek2: Aglutton for punishment/entertainment; quiet day in the Pump house, theGenerator room:). any conclusions there?The most pumped stock here?
No. Accidentally clicked on the title instead of unread posts and immediately scrolled down to bottom of the page, read the last 2 posts on that page and saw the close at $1.80. I thought that sounded a bit high and so looked at the date and time of the post. :)