Word: marsilli
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...Vietnamese government's investment arm, the State Capital Investment Corporation, owns 70% of Jetstar Pacific and Qantas owns 27%, until 2007 the airline was fully owned by the Vietnamese government. In other words, Nam, Freeman and Marsilli lost the state a lot of money after investing in fuel futures when oil prices were escalating in 2008, eventually peaking at $147 a barrel in July, before oil prices slumped to a low of just over $30 in December 2008. But Jetstar Pacific wasn't alone in its fuel-hedging bets; other regional airlines such as Cathay Pacific and Singapore airlines also...
...Vietnam's latest debacle involving two senior Australian executives may make investors think twice before getting into business with Vietnam. Tristan Freeman and Daniela Marsilli, the chief financial officer and chief operating officer of Qantas' Vietnamese operation, Jetstar Pacific, have been stranded in Vietnam since authorities prevented them from flying home to their families for Christmas. Earlier in 2009, Vietnam launched an investigation of the high-level executives after the airline, a Vietnamese and Australian partnership, reported a $31 million loss from bad bets on fuel futures, agreements on the future price of oil that committed Jetstar Pacific to paying...
...Freeman and Marsilli have not been charged with a crime yet and are officially being held "to respond to the requests from Vietnam's legal authorities in a timely manner." But Vietnam has strict laws on the books against losing state resources through economic mismanagement, potentially criminalizing the consequences of standard business risks...
...Many analysts worry that the detention of Freeman and Marsilli signals a reversal of the Vietnamese government's widely lauded market reforms. With spiraling inflation and the global financial crisis taking a bite out of the country's crucial export sector, some say government hardliners have responded by rolling back economic and personal freedoms. Late last year, Vietnam blocked Facebook and Twitter and arrested a number of pro-democracy activists. Jetstar Pacific, as the only joint venture domestic airline in Vietnam, could have become a target for conservatives who resent giving up control to the private sector - especially as Jetstar...
| 1 |