The Direct Method

I think I have seen my first ever published Direct Method Statement of Cash Flows. Galp Energia 2008 annual report and accounts if you want to take a look yourself.

Duncan Williamson


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Good for Everyone?

I see a Court in the USA has upheld a ruling that Microsoft has blatantly ignored someone else's Patent as it produced and sold Word 2003 and 2007 and has been given a fine of $240 million plus a cease and desist order.

Good! Let them learn some manners.

Duncan Williamson



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Rational Behaviour Mr Walsh?

Willie Walsh must have a bit of a death wish these days. The chairman of British Airways has just worked free of charge for a month and saved his company one twelfth of around £730,000 salary costs plus attendant on costs, I think.

Yesterday I read that the airline has just announced a loss of £94 million for the latest quarter. Moreover, Walsh has bemoaned the loss of Business and First Class passengers over the course of the recession and significant down turn in the numbers of passengers.

Walsh's suggestions for cost cutting? Drop the level of services to business class passengers.

Doh!

All airlines and airline analysts say that business and first class passengers are the source of all airline industry profits (I have never seen the PROOF of that by the way and have some doubts about such a sweeping assertion). To cut the levels of service to such passengers is sheer folly then as I have not seen any related cuts in these passengers' fares.

Anyone care to correct/update/upgrade my knowledge? I would be grateful and would publish it here.

Otherwise, Willie Walsh seems to be settling very firmly into the same mould as that Stuart Rose at M&S.

Duncan Williamson