How to cope with the corona virus ..facts- not fiction.

[D4D]

Reports this morning suggesting Virgin has gone into administration with $5B of debt, another Ansett...

[gronk]

Reports this morning suggesting Virgin has gone into administration with $5B of debt, another Ansett...

Reports that Richard Branson has already dumped 250 million into Virgin Australia and Atlantic, so how much to get them out of trouble ??

[D4D]

Reports that Richard Branson has already dumped 250 million into Virgin Australia and Atlantic, so how much to get them out of trouble ??

He only has a 10% stake in VA, conspiracy theorists will suggest, they'll let it go under then China will buy it back cheap...

[Kangaron]

I realise we need competition in the air, but,
How can a company lawfully operate with a debt of 5 billion?
It was my understanding that once your debts outweigh your assets you are insolvent.

Why should and public money be thrown at a company that is 90% foreign owned.

Now they have announced they may go into voluntary liquidation, surely that is a ply to get the money bidding between Qld and NSW to heat up?

[D4D]

How can a company lawfully operate with a debt of 5 billion?
It was my understanding that once your debts outweigh your assets you are insolvent.

I'd suggest their incoming funds were just covering their outgoings so they were trading just above the insolvency line.

Now they have announced they may go into voluntary liquidation, surely that is a ply to get the money bidding between Qld and NSW to heat up?

Yep there will be lots of angles going on at the moment. Making the voluntary admin call is a big statement and one they wouldn't undertake lightly as it will dry up any access to potential funds and investors.

[achjimmy]

VA already has 40% Chinese ownership

[Bird]

Oils going well

[tryagain]

It will be a bit like channel 10 was last year for Virgin. It's the debt that is trying it down. Voluntary Administration means it creditors don't get their money (likely only a fraction of it anyway), but then the business can hopefully go forwards under a new owner(s) without the debt obligations pulling it down. The Gov shouldn't be getting involved yet to help out foreign investors, they will wait till the other side when it needs to rise from the ashes.

[Brij]

I am far from an economist, and I fear for the job losses at VA and associated suppliers and industry but.....listening to morning news interveiw this morning as to why Aust government should step in -

* Will leave only one regional airline who will have a monopoly.
But the media will have us believe we will probably be locked down for some time yet, with interstate travel being one of the last things to come on line, so where is the market to support 2 regional airlines, or would they both run at a loss for years to come?
Alternatively if there is a market will this not entice another operator to set up shop to tap into this market to take advantage of the supposed higher prices the momopoly will supply?

*Thousands of VA employees out of work.
If there is no market won't they be out of work anyway?
If there is a market won't the suppliers in that market need employees?

*We need to support so it doesn't become owned by the Chinese.
Majority foreign owned already, and appears Chinese might go close to majority ownership anyway. So does that mean that Aust Gov should be supporting Chinese owned enterprises.
(Please don't take as distinctly anti Chinese. Sometimes if the Chinese weren't to invest or buy a business or company it would fold due to lack of investment, with the subsequent loss of employment).

[Bird]

* Will leave only one regional airline who will have a monopoly.

has having 2 made any difference? Im no genius but when one goes up in price, by miracle the opposition does too.. like petrol.

*Thousands of VA employees out of work.
The loss of jobs does concern me greatly.

*We need to support so it doesn't become owned by the Chinese.
Far too late.

[tryagain]

has having 2 made any difference? Im no genius but when one goes up in price, by miracle the opposition does too.. like petrol.

*Thousands of VA employees out of work.
The loss of jobs does concern me greatly.

*We need to support so it doesn't become owned by the Chinese.
Far too late.

From memory, Qantas prices when Ansett went bust went sky high

[Bird]

From memory, Qantas prices when Ansett went bust went sky high

Qantas shares up 5% LOL!

[westvic]

In relation to covid testing , I am told it’s quite invasive the swab has to go right up into the sinus! Is that true ?

daughter had this yesterday and yep quite invasive

single swab used 3 times, first right to the back of the throat (gag!) and right up into back of nostril left followed by right (eye watering)

was really proud of miss13 as she didnt even move her head or make a sound but did have tears pouring out from the nostril swab

[D4D]

In QFs defence in wasn't long ago they were in the same debt position. They've spent years improving their financials and are in a position to survive during the current situation, remember the QF strike. VAA on the other hand have kept borrowing and haven't been as financially prudent as their competition. Takes a lot of cash to run an airline and at slim margins, we all want cheap flights, are we going to excuse poor financial management and bail them out? I'm old enough to remember Ansett going under and taking lots of jobs and my 300,000+ frequent flyer points with it. We survived and from the ashes another airline was born. The cycle repeats...

[Brij]

From memory, Qantas prices when Ansett went bust went sky high

I have distant memories of flying on Ansett Melbourne Perth  and return just as their financial wows started making the news.

The difference in price seemed significant even at that point, let alone when their situation become well published.

Keep in mind though - that is just how I remember it, and was quite a while ago now, and I am far from an experienced flyer. That might of even been my first flight.

[Fizzie]

single swab used 3 times,

was really proud of miss13

At least they used 2 swabs when they did mine!

Hope everything comes back OK

[Pete79]

From memory, Qantas prices when Ansett went bust went sky high

And a Qantas flight from Townsville to Brisbane was $500+ until Virgin started flying that route.
They somehow managed to shave almost $400 off that fair once the competition arrived.

[prodigyrf]

Competitive supply works this way. It's only a necessary condition that there be free entry into the market and it has nothing whatsoever to do with the size and number of suppliers that eventuates under such condition.(think Coles and Woollies market share here) That's why we had expensive airfares with the old restricted TAA/Ansett duopoly and once that ended and anyone with backing and aircraft could join down came the margins. Even if upon restart Qantas put up their prices in the short run they'll be acutely aware there's another Richard Branson or whoever that can lay their hands on plenty of cheap aircraft parked up around the world plus cash sloshing around looking for a return to attack their margins. Bunnings don't need a Masters to tell them that either.

Sorry Virgin employees but you're just like blacksmiths with Henry Ford around at present and you'll have to adapt like everyone else who's seen demand for their services smashed. When will Airbus and Boeing employees be making planes again you have to ask yourself? We can't pay taxes to pension them all for life and there's a productive generation have to pay back this Jobkeeper/Jobseeker largesse sooner or later if the money printing isn't to go away with massive stagflation. Take your pick but the cost has to be borne sooner or later with lots of IOUs chasing too few real goods and services now.   

[D4D]

And a Qantas flight from Townsville to Brisbane was $500+ until Virgin started flying that route.
They somehow managed to shave almost $400 off that fair once the competition arrived.

That's a loss leader, nobody is making any money and it isn't sustainable, they are trying to buy market share and brand loyalty.

[alnjan]

daughter had this yesterday and yep quite invasive

single swab used 3 times, first right to the back of the throat (gag!) and right up into back of nostril left followed by right (eye watering)

was really proud of miss13 as she didnt even move her head or make a sound but did have tears pouring out from the nostril swab

Just asked the Bride.  Separate swab for each swab, one for left nostril, one for right nostril one for back of throat. 

[Beachman]

In QFs defence in wasn't long ago they were in the same debt position. They've spent years improving their financials and are in a position to survive during the current situation, remember the QF strike. VAA on the other hand have kept borrowing and haven't been as financially prudent as their competition. Takes a lot of cash to run an airline and at slim margins, we all want cheap flights, are we going to excuse poor financial management and bail them out? I'm old enough to remember Ansett going under and taking lots of jobs and my 300,000+ frequent flyer points with it. We survived and from the ashes another airline was born. The cycle repeats...

My best mate as a Qantas Pilot and currently working one month on and one month off (He has been there for years with lots of holidays/long service, so he is taking the month off at half pay out of his holidays)

He was saying seeing the planes are virtually empty, they are now carrying a lot of freight to try and cover costs.

But he and his mates make me laugh as during the strikes they all hated Alan Joyce for taking the tough approach, but now they can see those changes have allowed them to keep trading they now think he is a hero.

[KeithB]

I got onto the ALDI customer service thingy and compared Aldi's COVID-19 policy with that of Woolworths. Our local Aldi as at last Friday had done absolutely nothing; it was business as usual.

Woolies has people at the door with hand sanitiser for customers, wiping down baskets and wipes for trolleys, one way aisles to keep customers separated plus clicking customers in and out to control numbers in the store.

Aldi has done bugger all. I mentioned to them that we would no longer shop there until they had taken reasonable steps to ensure personal safety. Here is their reply:


-----Original Message-----
From: noreply@salesforce.com [mailto:noreply@salesforce.com] On Behalf Of Customerservice@aldi
Sent: Tuesday, 21 April 2020 10:56 AM
Subject: Store Feedback [ ref:_00D7F1xExv._5002v2mgeOE:ref ]

Hi Keith,

I’m emailing in response to the feedback you provided about a recent experience you had at the ALDI store.

We are in the process of protecting our employees and shoppers in these challenging times as this is unchartered territory for many of us. Be that as it may, please be assured that we take your feedback seriously and I have raised the matter with the appropriate departments for review.

To help maintain a clean and safe environment for you and our employees, we are intensifying cleaning practices at all of our stores, offices and warehouses.  We have dedicated more time to sanitisation procedures, focused on the most common touch points.

We are also currently installing hygiene stations at the entry of our stores. This includes antibacterial wipes to clean trolley surfaces and hand sanitiser for our customers before they enter our stores.

On behalf of ALDI, I apologise for the unfortunate experience you’ve had and thanks for contacting us and giving us the opportunity to address the issue. I’m confident we’ll be able to resolve the matter promptly and hope that you will continue to enjoy shopping at ALDI.

Kind Regards,

My comment: This is nowhere near good enough from Aldi. They have put bucks ahead of safety. They have lost us as customers.

Keith

[Pottsy]

Bit slow in Sydney Keith, our local store in southern Adelaide has done a great job, social distancing markers, screens at check out, security controlling numbers etc for nearly four weeks, including changes to trading hours to ensure stock on shelves.

[edz]

Drove past ours and wondered what was going on with the crowd and security at the doors ... then heard it come over the radio about  limiting numbers etc  in shops  .. Our local Aldi has security on the doors / limiting numbers and staff doing the hand sanitiser / wipe thing ....

[gronk]

Woolies has people at the door with hand sanitiser for customers, wiping down baskets and wipes for trolleys, one way aisles to keep customers separated plus clicking customers in and out to control numbers in the store.


Keith

Our local woolies wipes down the handles on trolleys....but none of the other things you list.

Local Bunnings of a saturday is PACKED.....hand sanitiser at the front door....nothing else....

I think we might have this thing under control, but the vast amount of people who had to go shopping could have made it much worse.