Qantas Grounds Entire Fleet In 'Unbelievable' Step

Ultimately, it was approved by shareholders at AGM...the institutional investors out voted everyone else. I think the union may want to publicise who these institutional invvestors are.

I don't understand your point. If we look at the key shareholders we see that they are also publicly owned companies that manage large pension and investment funds;

7.56% -CommonwealthBank Group5.08% -WestpacBanking Corporation

8.11% -BalancedEquity Management Pty Ltd

5.05%- NationalAustralia Bank Limited

6.84% -CapitalGroup Companies Inc

8.94% -FranklinResources, Inc and its affiliates

"This is the coc* ology statements that are now being stated with 4 -8 banks in Aus being downgraded for christ sake guys sell the house and get the <deleted>** out not not next year or you will end up the same as OH SORRY US. No not USA, us here in europe with property now less 60% yes my house was once worth €760000, that was my pension, WAS, get the ffuucckk out now. "

These fund managers are under pressure from the investors to deliver returns on the investments. Who are these investors? Retirees, pension funds from both the private and public sector, and the "middle class" as well as those with means that invest. The reality is that the general public is behiond these funds and it is the general public that whines and moans when their interest payments are not high enough. The investment funds are acting on behalf of the investors. In plain english, it is not the institutional funds that are the bad guys, but the investors that make the demands for high returns that are responsible.

It is ridiculous that the Qantas situation has come to this, but the responsibility lies with everyone involved. Consumers that demand cheap flights also have a hand in this. Far too simple to point a finger at one group and say they are to blame. What's needed is a smack in the head to everyone involved and a reminder that greed hurts.

"Yes Greed hurts it is a creation of the financial system, "BONUSES" greed we need more, more, more, more. someone has to pay for my lavish lifestyle.

I need a holiday.