Cathay's 'typos' leave analysts empty-handed Cathay Pacific Airways analysts experienced some unexpected turbulence at yesterday's interim results briefing. At the end of the session, they were asked to hand back the printed copies of Cathay's PowerPoint presentation as they left the room. Unfortunately for some of them, they had used the four-page document for making notes and were none too happy about having to copy them hurriedly on to any other pieces of paper they could lay their hands on. Cathay chief financial officer James Hughes-Hallett didn't explain why the presentation material was being taken back, but his people at the door told analysts the hard copy contained a few 'typos' that the company did not want to go public. They said the correct version would be available on the airline's website as soon as possible. A counter-suggestion that only the offending page, or pages, be taken back, leaving analysts with some or all of their notes, was rejected. One victim compared his feelings to that of smelling the wagyu beef coming from the first-class galley but being told it would not be ready for some time. Long-time Cathay analysts said they had not spotted the offending typo but suspected it could have had something to do with the negative indicators, such as the passenger load factor. Cathay remained coy about the mistakes, saying only that they had been discovered during the presentation. But in true airline fashion, it 'apologised for any inconvenience caused'. Swire Pacific goes digital There should be no such hard-copy problems when Cathay's parent, Swire Pacific, releases its interim results today, as the company has decided to go electronic with its media material this year. In a media alert yesterday, the conglomerate said the results would be sent by e-mail at 1.30pm and made available on the company's website at the same time. A live audio webcast of the analysts' briefing will be available at 5pm. Faxes will no longer be used. We are all for electronic distribution, but if someone makes a mistake this time, they will have a lot more trouble getting it back. No trouble getting a seat Many company executives have had to cut out first-class and business air travel since the start of the financial crisis, but as the economic climate shows signs of thawing, some corporates have begun to relax that money-saving policy. So, are Cathay's senior management occupying seats at the front of the plane again? Chairman Christopher Pratt (above) had a telling reply. 'We don't displace revenue-paying passengers. But of late that hasn't been much of an issue,' he said. Too few Michael Jordans When it comes to managing state-owned enterprises, Li Rongrong sees himself as something of a Phil Jackson figure. For the uninitiated, Jackson is the most successful National Basketball Association head coach of all time, having won 10 titles. Yesterday Mr Li, chairman of the State-owned Assets Supervision and Administration Commission, spoke about how much he wanted to groom some enterprises into becoming NBA superstars in the mould of Michael Jordan - 'a player who could always deliver' - who won six NBA titles with the Chicago Bulls under Jackson. 'The most exciting thing about the NBA is the teams that can always come back in the last quarter despite trailing by 20 points or so,' said Mr Li. 'That is why we need superstar players. A star player will always shine, but a superstar player is the one who can rise to the challenge and never let his coach and teammates down. 'Like Michael Jordan, he will always get you a three-point shot on any last-second play.' From his musings we can gather Mr Li is not exactly happy with the performance of some of his team this year, who have come up short like current NBA superstars LeBron James or national hero Yao Ming. Director pockets HK$1.28m He's not a frequent trader, but he's got good timing. Guangdong Investment non-executive director Moses Cheng Mo-chi recently sold 300,000 shares in the company at between HK$4.27 and HK$4.32 for more than HK$1.28 million. The man who holds 11 directorships exercised his options at only HK$1.59 in March. He still owns 3.65 million shares, worth nearly HK$16 million at yesterday's closing of HK$4.35.