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KQ orderd to reinstate sacked workers!!!
Rank: Veteran Joined: 2/3/2010 Posts: 1,797 Location: Kenya
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dunkang wrote:D Though i totaly disagree with Raila's populist statement on KQ, and the fact he represent a conflict of interest (he owns precision air), KQ management (GoK, KLM etc) is the one that is sending this to 5/-. Thought it was owned by KQ and the founder? How much does rao own I may be wrong..but then I could be right
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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I can smell an extra-ordinary AGM very soon... And it will be action packed... $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Elder Joined: 6/2/2011 Posts: 4,818 Location: -1.2107, 36.8831
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kenmac wrote:Foreign investors must have taken note of the ruling and downgraded Kenya in their list. It was socialist.
That notwithstanding, the KQ management had handled the matter with some high handedness and tactlessly. Hey. You are contradicting yourself bwana. There was nothing wrong in the judgement, what you should be fighting is the law that the judgement was based on. KQ admin should style up. You cannot 447 kenyans on basis of cost cutting, yet you hire more expensive foreigners, raise management wages and allowances. Further, KQ jurt targeted some workers, all pregnant women, union officials etc. How many companier retrench and there are no cases? Receive with simplicity everything that happens to you.” ― Rashi
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Rank: Elder Joined: 6/2/2011 Posts: 4,818 Location: -1.2107, 36.8831
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digitek1 wrote:dunkang wrote:D Though i totaly disagree with Raila's populist statement on KQ, and the fact he represent a conflict of interest (he owns precision air), KQ management (GoK, KLM etc) is the one that is sending this to 5/-. Thought it was owned by KQ and the founder? How much does rao own My bad. Its Jetlink. Jointly with Musalia, captain Aluvale Receive with simplicity everything that happens to you.” ― Rashi
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Rank: Elder Joined: 5/25/2012 Posts: 4,105 Location: 08c
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digitek1 wrote:Thought it was owned by KQ and the founder? How much does rao own Public 30%, KQ 34%, Shirima 36% post IPO Pesa Nane plans to be shilingi when he grows up.
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Rank: Member Joined: 8/29/2008 Posts: 571
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The good thing is:I don't own shares in KQ.But I pity those who do.However,I love flying KQ.Its a great airline to fly as a passenger,but a bad one to be a shareholder.....
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Rank: Member Joined: 10/26/2012 Posts: 136
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This will definatley scare foreign investors , the free market does need to prevail in Kenya or investors will shy away. Our labor laws are already harsh please don't make them any harder. We need the FDI to grow
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Rank: Elder Joined: 1/21/2010 Posts: 6,675 Location: Nairobi
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mazingira wrote:This will definatley scare foreign investors , the free market does need to prevail in Kenya or investors will shy away. Our labor laws are already harsh please don't make them any harder. We need the FDI to grow Why would foreign investors be scared off?? What KQ did would be illegal in any country! Why do you think the management is not putting up much of a fight against the ruling!? As many others have said, a company cannot fire people on the BASIS OF COST CUTTING and at the same time raise management's wages and hire expatriates! Since the reason for the firing these workers is not valid given the circumstances then it amounts to wrongful termination! Titus should meet MOO for tips on successful retrenchment of workers! Mark 12:29 Deuteronomy 4:16
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Rank: Elder Joined: 6/2/2011 Posts: 4,818 Location: -1.2107, 36.8831
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mazingira wrote:This will definatley scare foreign investors , the free market does need to prevail in Kenya or investors will shy away. Our labor laws are already harsh please don't make them any harder. We need the FDI to grow Lets not think like villagers. Retrenchments/downsizing/sacking etc happen daily everywhere and we don't hear cases. Why? 1. Follow the constitution, 2. Follow the kenyan labour laws, 3. Follow the employment contract 4. Use common sense in interpreting the law. WAY FORWARD, NAIKUNI MUST GO Receive with simplicity everything that happens to you.” ― Rashi
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Rank: Elder Joined: 6/21/2008 Posts: 2,490
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hisah wrote:I can smell an extra-ordinary AGM very soon... And it will be action packed... And the discussion will be about how cash strapped KQ is and cannot meet its obligation hence requiring a Government bailout failure to which KQ will do “a jetlink” The man who marries a beautiful woman, and the farmer who grows corn by the roadside have the same problem
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Rank: Elder Joined: 1/21/2010 Posts: 6,675 Location: Nairobi
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Why isn't @murchr defending her/his precious management?? Or is she/he selling out quietly?? Mark 12:29 Deuteronomy 4:16
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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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guru267 wrote:Why isn't @murchr defending her/his precious management?? Or is she/he selling out quietly?? That was one judge from hell. I havent read the rulling yet but Was that right really? It always gets messy when politics get into business. I've never owned KQ, but I dont think the bigwigs are selling. I want to know tho who is collecting the penny stock "There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore .
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Rank: Elder Joined: 3/2/2009 Posts: 26,328 Location: Masada
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ProverB wrote:hisah wrote: Add to that a dull political outcome, the current security threats & the recessing euroland, the revenues stand to take a sizable cut. Bailout could come sooner than expected. God forbid, if they were to lose a plane to a crash...
Precisely!! I don't get how he just gives in to being forced to cooperate with a crippling requirement!! No offence.. i feel for the employees...but atleast they were given an opportunity to disembark a crushing plane with some parachute...now they'd rather weigh it down and crush with it?? I was astonished being invited for thanx giving prayers for some reinstated employees..the miracle God had done... guys assume God is as financially illiterate as they are?? CraP!!#this ain't a socialist state! Ouich! Mberrow the mbeot. Portfolio: Sold You know you've made it when you get a parking space for your yatcht.
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Rank: Veteran Joined: 3/12/2010 Posts: 1,199 Location: Eastlander
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Impunity wrote:ProverB wrote:hisah wrote: Add to that a dull political outcome, the current security threats & the recessing euroland, the revenues stand to take a sizable cut. Bailout could come sooner than expected. God forbid, if they were to lose a plane to a crash...
Precisely!! I don't get how he just gives in to being forced to cooperate with a crippling requirement!! No offence.. i feel for the employees...but atleast they were given an opportunity to disembark a crushing plane with some parachute...now they'd rather weigh it down and crush with it?? I was astonished being invited for thanx giving prayers for some reinstated employees..the miracle God had done... guys assume God is as financially illiterate as they are?? CraP!!#this ain't a socialist state! Ouich! Mberrow the mbeot. no harm intended. #too much Madea ..Let your light so shine before men, that they may see your good works, and glorify your Father which is in heaven...Matt5:16 - 1769 Oxford King James Bible 'Authorized Version
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Rank: Veteran Joined: 3/12/2010 Posts: 1,199 Location: Eastlander
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...low of 10.25... can't help but think someone is helping buffer the stock...trying hold back a flood. O for the day it will do a mumias and slide to 3 bob!!... ..Let your light so shine before men, that they may see your good works, and glorify your Father which is in heaven...Matt5:16 - 1769 Oxford King James Bible 'Authorized Version
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Rank: Elder Joined: 6/2/2011 Posts: 4,818 Location: -1.2107, 36.8831
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FKE moves to court to appeal the case, yet KQ is not interested in appeaking so far. At times this CEO make me wonder whether they went to school. What they should be fighting is for the parlgament to amend the labour law or that clause in the law that the judge based his/her judgement on. Receive with simplicity everything that happens to you.” ― Rashi
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Rank: Veteran Joined: 3/12/2010 Posts: 1,199 Location: Eastlander
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dunkang wrote:FKE moves to court to appeal the case, yet KQ is not interested in appeaking so far.
At times this CEO make me wonder whether they went to school. What they should be fighting is for the parlgament to amend the labour law or that clause in the law that the judge based his/her judgement on. Kwani what's the Board of Directors doing? http://www.marsgroupkeny.../Board_of_Directors.pdf
...i doubt TN is running the co without their input..especially representatives of major shareholders.. ..Let your light so shine before men, that they may see your good works, and glorify your Father which is in heaven...Matt5:16 - 1769 Oxford King James Bible 'Authorized Version
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Rank: Elder Joined: 6/20/2012 Posts: 3,855 Location: Othumo
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saw KENGEN at 8.85 bob and almost collapsed. thought KQ had slide to that level. Ops Thieves
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Rank: Veteran Joined: 3/16/2009 Posts: 1,464
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ProverB wrote:dunkang wrote:FKE moves to court to appeal the case, yet KQ is not interested in appeaking so far.
At times this CEO make me wonder whether they went to school. What they should be fighting is for the parlgament to amend the labour law or that clause in the law that the judge based his/her judgement on. Kwani what's the Board of Directors doing? http://www.marsgroupkeny.../Board_of_Directors.pdf
...i doubt TN is running the co without their input..especially representatives of major shareholders.. Hiyo list ni ya zamani sana. It's wrong
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Rank: Veteran Joined: 2/10/2010 Posts: 1,001 Location: River Road
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"KQ has looked to Thai, Indian and Ghanaian cabin crew probably because they are cheap, and these countries are way ahead in the race to the bottom. The much touted project Mawingu embraces and encourages the theory of the race to the bottom. Locally, KQ has turned to Career Directions, a labour outsourcing firm, to avoid the regulatory burdens that have been imposed by what Naikuni has characterized as tough collective bargaining outcomes. Outsourcing of labour is contrary to the principles of fair labour practices, sustainable development, and engenders the race to the bottom"
Now this is what I call communist rubbish...
"It is unrealistic to argue that because American Airlines has retrenched its employees to cut costs, KQ retrenchment is just okay. The American worker has a strong social security system to fall back to. Kenya does not have any unemployment insurance. The social security system is weak. Implementation of knee-jerk retrenchment decisions, denies young Kenyans social protection."
social protection my foot there are many of us in self employment and surviving just fine.
"The financials, while demonstrating a cyclic loss in profits caused by certain global factors, do not show that KQ is in any danger of total collapse. There is a downturn, but no suggestion of a downfall. Its largest shareholder is the Government of Kenya, which through the Office of the Prime Minister, called for further consultations,"..............This is african socialism crap let's all sink with the ship
"The violations by KQ involve more than mere economic loss to individual employees; it is about corporate insensibility and disregard for certain constitutional ethos. "
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KQ orderd to reinstate sacked workers!!!
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