Alan Joyce

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THE NEWS WRAP: Sydney Airport given first right of refusal over second airport

4:46PM | Tuesday, 15 April

Sydney Airport is set to negotiate with the federal government over the rights to build a second airport at Badgerys Creek, 50 kilometres west of Sydney.   Under a deal struck with the Howard government, ASX-listed Sydney Airport owns the “First rights over refusal” over the $2.5 billion project.   It will have nine months to negotiate terms with the federal government from the day federal Transport Minister Warren Truss issues an official “notice of intention” setting out the government’s terms for the project.   News of the proposal for a second major airport in Sydney, without the 11pm to 6am curfew on Kingsford Smith, has been welcomed by the transport industry.   “Sydney is the key gateway for air traffic in-and-out of Australia and the benefits of having two major airports will be felt nationwide,” Qantas chief Alan Joyce says.   NBN Co to speed-up deployment of FTTB to head off TPG   NBN Co's chief customer officer John Simon has announced plans to accelerate the rollout of fibre-to-the-basement (FTTB) technology, warning other carriers not to follow in TPG’s footsteps with a rival rollout.   “If TPG can do it, then why can't six or seven other players do it? Then all of a sudden what you find is the more commercial or lucrative sectors of the market get picked off and you end up with a Swiss cheese network,” Simon says.   “This is not just a TPG response plan. This is our plan to bring forward those revenues and also at the same time make it clear that we will respond to competitive threats.”   Nadella calls on Microsoft to develop a “data culture”   Microsoft chief executive Satya Nadella has told employees his company needs to develop a “data culture” in order to compete in a marketplace dominated by cloud services and mobile devices, during his third major appearance since taking the role.   “Every aspect of Microsoft's business is being fundamentally transformed because of data. You have to build deeply into the fabric of the company a culture that thrives on data,” Nadella says.   “To be able to truly benefit from this platform you need to have a data culture inside of your organization. For me, this perhaps is the most paramount thing inside of Microsoft.   “It's not going to happen without having that data culture where every engineer, every day, is looking at the usage data, learning from that usage data, questioning what new things to test out with our products and being on that improvement cycle, which is the lifeblood of Microsoft.”   Overnight   The Dow Jones Industrial Average is up to 16262.6. The US dollar is down to US93.66 cents.

THE NEWS WRAP: Regulatory reforms should open up credit card market competition

3:29PM | Sunday, 16 March

A move by the Reserve Bank to reform credit card regulations is likely to open up new competition by shifting oversight for credit card issuers away from banking regulator Australian Prudential Regulation Authority.   The reforms will likely mean companies will no longer need to register as a bank in order to issue credit cards, with analysts saying the move is likely to open up competition in the sector.   “The issue with the access arrangements currently is that they're quite restrictive. Companies essentially need to be an authorised deposit taking institution, a bank,” BIS World senior analyst Caroline Finch told the ABC.   “Banks are under a lot of regulation so this has been a significant barrier to entry, particularly to foreign players, and for anybody who's not already a bank it's quite hard to get yourself registered as a bank.”   Alan Joyce defends Qantas job cuts   Qantas chief executive Alan Joyce has defending plans to slash jobs at the airline during a Senate hearing late last week.   “I absolutely believe that the Qantas staff are in the need for the company to change and know that the best way to secure as many jobs in the Qantas group is to have a successful, profitable business going forward,” Joyce told the Senate inquiry.   “We have to make, I will say again, some tough decisions. It is not easy having to make 5000 people redundant.”   Super pressure grows on small funds   The pressure on superannuation funds is growing, with smaller funds overseeing less than $5 billion in assets increasingly being pushed to merge or be swallowed up by their larger competitors.   According to Financial Services Council chief executive John Brogden, the federal government’s introduction of the MySuper scheme and reforms to SuperStream were pushing compliance costs beyond the reach of many smaller funds.   “Most of the pressure is coming from government changes, whether they be the cost of changing internal processes or adopting new IT systems,” Brogden says.   “The smaller funds will have a lot of pressure on them to prove that they're viable beyond the next two or three years. The smaller you are, the more pressure is going to be on you.”   Overnight   The Dow Jones Industrial Average closed down to 16065.7 points. The Aussie dollar is down to US90.04 cents.

THE NEWS WRAP: Qantas in showdown with unions over job cuts and wage freezes

2:26PM | Thursday, 27 February

Embattled Qantas chief executive Alan Joyce is set to begin talks with union heavyweights today after announcing 5000 job cuts and a wage freeze, following a massive $252 million loss for the December half.   “The current position is unsustainable. There are many Australian companies that have failed because they were not prepared to make the hard decisions. Qantas is not one of them,” Joyce says.   Meanwhile, Prime Minister Tony Abbott has poured cold water on the idea of a federal government debt guarantee for the troubled airline.   “Why should the government do for one what it is not prepared to do for all, or what is not necessarily available for all?” Abbott says.   Air New Zealand posts record profit   Air New Zealand has posted a record half-year profit of $NZ140 million ($A130 million) despite expectations of a $49 million loss at Virgin Australia, in which it holds a 24.5% stake.   “We have worked hard on improving our cost base in an environment where we have not grown,” Air New Zealand chief executive Christopher Luxon says.   “In fact, we have reduced our capacity flown overall as we realigned our long-haul network.”   Nationals MP raises doubts over paid parental leave   New South Wales National Party Senator John Williams has raised doubts over the future of Prime Minister Tony Abbott’s proposed paid parental leave scheme, telling the ABC the economy is too weak to support the plan.   “I've said all along, I don't have a problem with the paid parental leave scheme. That is our policy so long as the economy is strong, but I do have concerns about the strength of the Australian economy,” Williams says.   “To me a strong economy in Australia [has] a four in front of unemployment – that's currently got a six in front of it and a four or close to four in front of economic growth - and we're currently growing at 2.5%.”   Williams says he will have talks with Abbott before announcing whether he’s willing to cross the floor over the proposal.   Overnight   The Dow Jones Industrial Average is up to 16248. The Aussie dollar is down to US89.6 cents.

Hawthorn versus Fremantle: Six small business lessons from the 2013 AFL grand final

9:31AM | Friday, 27 September

Well, after a long season, it’s finally here. Hawthorn plays Fremantle in the AFL grand final this Saturday.   Now, for those of you who are from the northern states or overseas, AFL footy is actually a simpler sport to understand than it might appear at first glance.   See, the whole thing is a morality play about good and evil. The team wearing brown and gold are the unlikely good guys – although ‘good guys’ is perhaps not strong enough a term. Truth and justice in its purest institutional form. The paragons of high virtue, even.   The rest are either simply there to give them competition and make up the numbers. That, or pure evil.   As you might be able to tell, on this subject, your humble correspondent could, perhaps, be described as a one-eyed supporter. That said, it would be presumptuous to believe this one’s in the bag – Freo are going to be tough opponents to beat.   So, in the spirit of that one day in September, here are six business lessons from the Hawks and the Dockers:   1. What your brand represents is more important than how it’s presented   Let’s face it, brown and gold is quite possibly the most unattractive colour scheme of any professional sports team anywhere in the world. And the Dockers’ old colours – purple, red, green and white – probably run a close second.   Yet, with a total membership this year of 63,353, Hawthorn has managed to achieve a higher membership nationally than the estimated membership of either the Liberal Party or the ALP – and larger than both major parties combined within Victoria.   Aside from keeping the glory hounds off the bandwagon, using brown and gold also links back to over a century of history and tradition for supporters of the family club.   It’s a history that links some of the greatest players to ever play the game, including Alf Kosky, Sandy Ferguson, Kennedy’s Commandos, Graham Arthur, Peter Crimmins, Peter Hudson, ‘Lethal’ Leigh Matthews, Michael Tuck, Don Scott, Dermott Brereton, Robert DiPierdomenico, Rodney Eade, David Parkin, Alan Joyce, Allan Jeans, Terry Wallace, Gary Ayres, Gary Buckenara, Jason Dunstall, Shane Crawford, and countless others.   Supporters, your humble correspondent included, fondly remember the good old days of Glenferrie Oval and Waverley Park – two of the greatest stadia this land has known.   The lesson is simple: worry less about symbolism and more about making your brand represent something people can believe in.   2. Reliability matters   Hawthorn has had great years, and it’s had the kind of years where Ken Judge was the coach and Simon Crawshay was in the forward line (and the less said about that era the better).   Nonetheless, they’ve delivered their fans at least one premiership flag in five consecutive decades, and if they win on Saturday, that gets extended to six.   Hawthorn reliably delivers its supporters premierships. What does your business do reliably?   3. Keep trying!   The interesting thing about both clubs is that they took a long time to initially get to the top. Hawthorn first entered the VFL (the predecessor of the AFL) in 1925 and didn’t win their first flag until 1961. The wait for Fremantle might not be as long – they joined the AFL in 1994 and made their first Grand Final in 2013.   Many years of striving just makes it better when your Hawks are flying.   4. Get it done – when it counts   One of the great rivalries of modern football has been between Geelong and Hawthorn. After losing to Hawthorn in the 2008 grand final, Geelong vowed to never let the Hawks beat them again.   Well, for several seasons, Geelong won every regular season match. The press dubbed it the ‘Kennett curse’ after former Victorian premier and Hawthorn president Jeff Kennett.   Well, that winning streak was ended this year, with Hawthorn winning the preliminary final and making it to the grand final – the match that counts. Just like they beat Geelong back in 1989, when it really counted.   So, do you want to be like Geelong and win insignificant battles? Or do you want to be like Hawthorn and get it done when it matters?   5. The back page matters for business   Why discuss the grand final on a website about businesses? Because sport matters!   In a sports mad nation where a big win can make the front page, sport holds valuable social currency. From AFL club coteries to local team sponsorships to small talk about sport at business networking events, following elite sports can be a profitable diversion for you and your business.   6. String up those colours!   If you're in retail, don't forget to show your team colours! String 'em up now!   Have your say   So what’s your take on the 2013 grand final? And what lessons have you taken from the sporting field? Leave your comments below!   Get it done – and carn the Hawks!

Five strategy lessons from Qantas’ dramatic decision to ground its fleet

10:41AM | Monday, 31 October

It's been a tough few months for Qantas. Dealing with industrial action and distraught customers is no easy task, and having to maintain a steady budget while doing so is a challenge few would want to take on.

THE NEWS WRAP: Packer attacks Gillard’s business image

6:24PM | Wednesday, 22 June

Casino and media magnate James Packer has attacked prime minister Julia Gillard, claiming the corporate world perceives her to be anti-business.

THE NEWS WRAP: Record iPhone sales help propel Apple to a 95% leap in second quarter profit

4:29AM | Thursday, 21 April

Record iPhone sales helped propel Apple to a 95% leap in second quarter profit, with shares rising 2.8% to $US351.80 following the announcement.

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