NetJets 2nd Qtr Earnings

[Xcorporate]

I think it's time to stop bothering with NJA threads and the NJASAP board. Not much there save for the two folks you're talking about since we've been segregated from the active pilots.

I'm pretty much done with all of it. I'd put it in the rear view, but there's nothing in the windshield either.

You're probably right. What an utter disappointment the whole thing turned out to be. Moving on now.....

 

[FLYLOW22]

Who knows how many extra we really have? Management has told us we were over 100 airframes fat, and yet they have only sold off 2 or 3 of these airframes in all of 2010. I know the market isn't there for used airframes, but I would think we would have been able to ditch some more if we were really trying to get rid of them. The things we have been told by management have changed so much over the last year that I just have no idea any more what is real. I don't believe Sokol will recall anybody while he is the CEO unless they get stuck and have to sell off too many days and are contractually forced to do it, but as far as what airframes are for sale and what are supposedly parked, I have no clue and wouldn't be surprised by almost any number I heard now.

Sokol announced Monday that he is leaving at years end.

As far as aircraft orders go... There's a two fold issue there.

1) NetJets must continue to dispose of excess planes.

2) An order for aircraft will be placed at a time management believes the arrival of new jets will not contribute to overcapacity of frames.

 

[Jack Campbell]

Sokol announced Monday that he is leaving at years end.

As far as aircraft orders go... There's a two fold issue there.

1) NetJets must continue to dispose of excess planes.

2) An order for aircraft will be placed at a time management believes the arrival of new jets will not contribute to overcapacity of frames.

What is the source for this? You're not talking about that Fortune article, are you? I'd hardly call that a retirement announcement.

 

[gutshotdraw]

He's not retiring. He's going back to Mid-American Energy or the next Bershire rescue project that Warren needs. Sokol righted the ship, restructured the business, and feels ready to hand it off to a leader that will not be pulled in so many directions at once. My guess? Think the initials B N.

 

[jonjuan]

He's not retiring. He's going back to Mid-American Energy or the next Bershire rescue project that Warren needs. Sokol righted the ship, restructured the business, and feels ready to hand it off to a leader that will not be pulled in so many directions at once. My guess? Think the initials B N.

http://www.billnye.com/

Well, I suppose he couldn't do any worse. He does know quite a bit about science stuff, so...........

 

[imacdog]

He's not retiring. He's going back to Mid-American Energy or the next Bershire rescue project that Warren needs. Sokol righted the ship, restructured the business, and feels ready to hand it off to a leader that will not be pulled in so many directions at once. My guess? Think the initials B N.

I'll cross my fingers for that. Sounds like (from the I guys) this is something we want.

 

[FLYLOW22]

What is the source for this? You're not talking about that Fortune article, are you? I'd hardly call that a retirement announcement.

4:53.

http://www.youtube.com/watch?v=WqPER1evK4w

Say thank you.

 

[gret]

4:53.

http://www.youtube.com/watch?v=WqPER1evK4w

Say thank you.

Thank you!

Very informative-

Bought back 53 a/c.
New CEO by y/e or 1st qtr.
Marquis down 60%
​

 

[pilot125]

Thanks for the link. Even though this is not a popular take of Sokol, I'm gonna say it anyway. I LIKE THE GUY! I know he was the axe-man at Netjets (and I AM one of the 495), but I think he did what needed to be done. Don't think he is a total genius for what he did, because I do think the ship would have been partially righted on its own, and that most of our loss was aircraft buy-backs for writedowns, but he did cut out alot of the FAT.

 

[Jack Campbell]

4:53.

http://www.youtube.com/watch?v=WqPER1evK4w

Say thank you.

Thank you. And...you don't have to be a jerk about it. You don't have to be, but you are.

This is the 2nd time he has mentioned he will be stepping down this year. The other one was in Fortune magazine 2 weeks ago.