Business
Not a Virgin: Bain plays everyone in breathtaking corporate bait – Sydney Morning Herald
Virgin’s cabin crew got a whiff that something was up when a large contingent of Bain executives descended on Brisbane two weeks ago.
Private equity firms, such as Bain, are renowned as ruthless owners of assets with profits being their first, second and third priority.
The aviation industry had been waiting for the other shoe to drop at Virgin – they just hadnt expected it to be a steel-capped boot.
And so was set in motion one of the most breathtaking corporate bait and switches in memory.
Everyone was played.
This included the unions, the staff, Scurrah, the customers and Deloitte – the administrators that had chosen Ba…
-
Noosa News18 hours agoBondi Beach terror attack: Police investigate threat against Westfield North Lakes in Queensland
-
General18 hours agoGold, iron ore and population swell big state’s coffers
-
General18 hours agoPALM farm worker sentenced to eight years’ jail for raping teenager near Arrawarra
-
Noosa News19 hours agoBrand update as firm marks 25 years – Proctor