Why our corporate leaders are playing it cool on record profits

For decades, in the absence of a financial crisis or a royal commission, only those clutching CBA shares or financial analysts took any real notice of bank earnings announcements.

At $2.4 billion, Qantas is on track to deliver its best-ever result by a huge margin, a feat achieved despite a horror stretch of customer outrage at management incompetence with ongoing delays, cancellations and baggage disappearance; the basics of running an airline. Last month, the airline – which courts the rich and powerful through exclusive entry to its Chairman's Lounge – was given a leg up by the federal government through an unusual decision to block Qatar Airlines from running an extra 21 flights a week.During the pandemic, Qantas banked $695 million in JobKeeper payments, a large slice of the $1 billion in subsidies from an international freight mechanism and the bulk of a $715 million regional assistance package.

That's what happened in the 1970s and '80s. But two big changes have occurred since then that largely have been overlooked. Both have to do with market power. Unlike other countries such as America, Australia has a long history of allowing the concentration of corporate power, a situation made even more pronounced by the privatisation of former government monopolies.When inflation pays dividends

Source: News Formal (newsformal.com)

Australia Latest News, Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Why is Japan the only G7 country that does not recognise same-sex marriage?Japan is the only G7 country not to allow same-sex marriage. But as the country prepares to host the next meeting of the group and thousands walk in the streets of Tokyo for a gay pride parade, business groups are putting pressure to change it.
Source: SBSNews - 🏆 3. / 89 Read more »

‘A male-dominated team does not reflect society’: why are only 5% of music producers women?Beyond the stereotype of the knob-twiddling bloke are brilliant female producers, but gatekeeping, toxic masculinity and a lack of concrete support are holding them back
Source: GuardianAus - 🏆 1. / 98 Read more »

Why has FIFA threatened to not broadcast the Women's Football World Cup in Europe?Europe's top football nations face a broadcast blackout for this year's Women's World Cup, FIFA President Gianni Infantino said.
Source: SBSNews - 🏆 3. / 89 Read more »

Why Warner Bros’ trademark might not be a devil of an issue for AFLForeign Minister Penny Wong has taken an active interest in a potential legal battle between powerful movie studio Warner Bros and the AFL, the latter seeking to have its new 19th club potentially named the Tasmanian Devils.
Source: theage - 🏆 8. / 77 Read more »

Why teen is not criminally responsible for school shooting which left nine deadA teenager who opened fire on a school in a small European nation killing nine people and injuring at least seven others will not be criminally be responsible due to his age.
Source: SkyNewsAust - 🏆 7. / 78 Read more »

‘It’s not like chicken farming’: why manta rays are chopped up in Sri LankaThe gill plates of the extremely intelligent fish – many species of which are already categorised as endangered – are sold across east Asia as remedies said to have ‘no basis in medical science’
Source: GuardianAus - 🏆 1. / 98 Read more »