Airlines to Ground 500 Planes

[blueridge71]

U.S. airline fleets to shrink by more than 500 planes
According to a count by JP Morgan, U.S. airlines are taking 512 aircraft out of service this fall -- the equivalent of grounding Northwest Airlines' entire fleet. The number of mainline jets will shrink by 7%, while more than 11% of regional jets will be taken out of service. Among the big carriers, United Airlines is making the deepest cuts, grounding 94 737s and six 747s.

From the ATA news room. I don't have a WSJ subscription so I can't get the full article.

This will most likely be good news for the fractionals.

 

[RTRHD]

Everything the Airline's do lately is good news to Fractionals. But bad for the pilots.:nuts:

 

[glasspilot]

Having a massive oversupply of pilots is not good for any of us.

 

[gutshotdraw]

THAT is a true statement.

 

[deadstick]

Having a massive oversupply of pilots is not good for any of us.

true dat...

 

[blueridge71]

I'll buy that.

 

[Sparse]

Everything the Airline's do lately is good news to Fractionals. But bad for the pilots.:nuts:

In light of evrything going on on Wall Street, I think we need to ask ourselves who we are hauling around on our aircraft. Many of the 40-50 ish age clients in and out of HPN and TEB are involved on WS. Just google them. With bonuses going down or away, how many are going to be able to continue with the luxurys. I really don't know, but my gut feeling is not good. I hope this is just paranoria.

 

[GSXR600]

In light of evrything going on on Wall Street, I think we need to ask ourselves who we are hauling around on our aircraft. Many of the 40-50 ish age clients in and out of HPN and TEB are involved on WS. Just google them. With bonuses going down or away, how many are going to be able to continue with the luxurys. I really don't know, but my gut feeling is not good. I hope this is just paranoria.

And also if the goverment gets involved with this bailout plan how much of this luxury will be control?
since they surely will have lots of control over this companies?

 

[FastJP4]

"Government Control"...........now there's an oxymoron.

 

[RTRHD]

In light of evrything going on on Wall Street, I think we need to ask ourselves who we are hauling around on our aircraft. Many of the 40-50 ish age clients in and out of HPN and TEB are involved on WS. Just google them. With bonuses going down or away, how many are going to be able to continue with the luxurys. I really don't know, but my gut feeling is not good. I hope this is just paranoria.

Sparse, I know squat about business (or grammar) but your right nothing is bullet proof.

 

[CALRepublic]

In light of evrything going on on Wall Street, I think we need to ask ourselves who we are hauling around on our aircraft. Many of the 40-50 ish age clients in and out of HPN and TEB are involved on WS. Just google them. With bonuses going down or away, how many are going to be able to continue with the luxurys. I really don't know, but my gut feeling is not good. I hope this is just paranoria.

Well said man. That's what I've been saying all along, NOBODY is 100% safe. We might be safer than most airlines, but we're not invincible. Some guys in here think they have nothing to worry about.

One more thing, someone said something like " Berkshire Hathaway is worth 90 Billion". OK so what?? if NetJets starts underperforming, they could pull the plug on this puppy......

 

[Sparse]

This from a 2006 NY Times article. What will they say about 2008?

"Securities industry employees in New York City will receive almost $24 billion in compensation this year, up 17 percent from a year ago, according to data provided by Alan G. Hevesi, New York State comptroller. That will translate to $1.6 billion in tax revenue for New York State and $500 million for New York City.
The $24 billion represents only what New York employees have earned. Globally, individual banks are paying record amounts in compensation. Investment banks generally pay about 48 percent to 50 percent of net revenue in compensation.
Goldman paid its 26,467 employees $16.5 billion in compensation in 2006, an average of $622,000 per employee. Lehman Brothers paid $8.67 billion, or $334,000 per employee, and Bear Stearns, $320,000. Employees at Morgan Stanley earned $264,715 per person.
Top-flight investment bankers earned $20 million to $25 million; traders earn a percentage of what they make for the firm, and those who performed well could take home as much as $50 million, compensation specialists estimated."