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NetJets cuts its pledged donations

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diggertwo

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Nov 28, 2001
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http://www.pilotbug.com/?p=1657

NetJets Inc. has angered some central Ohio business leaders by slashing millions of dollars in funding promised to nonprofit groups, including nearly $9 million to the Pelotonia bike tour.

Ride organizers now are scrambling to replace the millions the Columbus-based division of Berkshire Hathaway had pledged to support the fundraising event through 2013.The situation prompted Limited Brands founder Leslie H. Wexner to write a letter to Warren Buffett, Berkshire’s chairman and chief executive, chastising the nation’s second-wealthiest man for allowing one of his companies to not live up to charitable commitments.

In the letter, Wexner told Buffett that he was “shocked and appalled” that NetJets “(turned) its back on the community.”

“Your company reneged on numerous charitable commitments totaling millions of dollars here in central Ohio,” he wrote. “The explanation? Berkshire Hathaway/NetJets had a tough year. Well, we all have had a tough year.”


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Here's a comment I read on this article from elsewhere:

The only appropriate response to any contribution by Netjets or anyone else is "Thank you".

The only appropriate response to a cancelled contribution is "I understand. Thank you for thinking of us and we hope we can count on your support in the future".

To express outrage because a contribution didn't materialize is to highlight what ails the entitlement culture in our society.
I tend to agree.
 
Wexner never has been a friend to Netjets and is most likely taking this opportunity to slam NJA. It's none of his or anyone else's business who gives what for charity. It also makes no sense to donate when you're in the red. The tax breaks don't make up for the cash. The "drop in the bucket" argument is way overused today. If you don't have it, you shouldn't spend it. I agree with the thread above-charity is expected, not appreciated these days.
 
"Turned its back on the community"? The same community that gave SkyBus $50 Million, but wouldn't give us the time of day until we threatened to move to another city?

This is for you, Mr. Wexner. :rolleyes:
 
Isn't that pathetic.

Never mind Netjets (and EJA before it) has given millions to help out the community in the past,, that all means nothing.

To hell with what you did for me,, whatcha gonna DO for me!!!

That's true thanks and gratitude. It is a sad state of society.

Hung
 
While I know there isn't a requirement to donate to charity, if you make a commitment, you should live up to it. Our society is going down the toilet on basic good behavior. If you say you will do something, you should d@mn well do it. Granted, the majority of our leaders (especially the elected types) make and break promises every day, but that doesn't mean they don't suck.
 
While I know there isn't a requirement to donate to charity, if you make a commitment, you should live up to it. Our society is going down the toilet on basic good behavior. If you say you will do something, you should d@mn well do it. Granted, the majority of our leaders (especially the elected types) make and break promises every day, but that doesn't mean they don't suck.

I am sure NJA will continue its donations to charities after the company is on stronger financial footing. But for now, keeping as many employed as possible and sending a profit to share holders is their first priority.
 
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