Are you sure things aren't bad at NJ too?

[JungleJett]

Check your PM's

I don't mean or intend to perpetuate anything. Just worried about my job and my ability to support my family and looking for answers. How about trying to understand that before jumping down somebodies throat for posting something that was already available information that someone else was likely to post anyway. Also it pertained to the original post.

These days it's getting hard to tell who's hitting the crack pipe harder. The people that are worried or the ones that aren't worried at all.

And I don't care if you know who I am, makes no difference to me so what was the purpose in mentioning that?

 

[CRJFlyer]

Auburn..there is nothing we at NJA can really do about it. Besides keep to the schedule and try to help anyway we can.

Your gonna drive yourself crazy with this. I've been through this crap before (furlough, bankruptcy, concessions, more concessions) I've done probably exactly what your doing. Looking for any sign or magic post where someone says everything is ok.

Maybe it is maybe it's starting to slide. But really all you need to know is unless crap hits the fan, NJ will do everything it can to keep us on the property.

 

[amaineiac]

http://www.kake.com/home/headlines/37449979.html

Don't know what to make of this. Fast forward to 1:43. This guy Brian Foley is from a reputable company and claims to have heard that NJ is possibly close to announcing 300 layoffs. WTF?

Next time you read something and freak out, step back for a minute and think about it before posting.

Everyone on the union website that has been through recurrent has said that mgmt isn't talking about furloughs.

The union hasn't been approached about give backs.

The company hasn't been sending out emails begging us to cut costs any way we can.

No panic, the world is ending type emails from mgmt.

I'm not saying furloughs aren't possible here, but I have a hard time believing that you're going to wake up one day and all of a sudden you're furloughed. There will be signs before a furlough, and so far, there haven't been any.

 

[CA1900]

FlyAuburn -- none of us knows what's going to happen, but I would consider the source of the rumor to be more than a little bit biased in this case. From the originator's web site:

Aviation Business Brokerage
Through our Wall Street affiliate, we act as selling agent for business aviation companies with a need for growth/venture capital or an exit strategy...


In other words, he enhances his business by stirring stuff up.
​

 

[Fozzy]

I don't mean or intend to perpetuate anything. Just worried about my job and my ability to support my family and looking for answers.

And how in the he!! does posting this crap help ANY of the things you are worried about!?! Spreading (that is what you are doing by reposting) rumors is just adding the FUD. STOP. If you need someone to hold your hand call some of your buddy's, just stop posting this crap.

 

[gunfyter]

Back of an envelope calculation... 300 pilots furlough would maybe save a measily $30 million dollars in a year.

I don't think its worth it.... the bad press and impressions.

The last time the jet market fell, the losses sustained were mostly because of buy backs. we had to buy back shares and sell the airplanes on the used jet market. We took significant losses selling those jets according to a Berkshire report that year. it was a slow year, I flew less than 400 hrs instead of 600 or 700. we didn't hire that year and EJM let go of about 40 guys. The next year we resumed hring and flying went through the roof gain.

WTF ... Columbus Ohio just gave NJ like $100 million in tax breaks because of a new campus and MORE jobs.... I really don't think its a good idea to cut jobs after squeezing that money out of the city.

 

[xrated]

Regardless of what board you go on or what the subject is, you're going to have your eternal pessimists and you're going to have Cool-aid drinkers. If your views are somewhere inbetween, you're standing on as firm a ground you can. In this industry the best policy is to expect the worse and hope for the best.

When it comes to "rumors", the vast majority never come to fruition, but the few facts that do come to light, generally got their start as a rumor.

With that being said, if I was near the bottom of the seniority list at NetJets, I'd probably hold off on any large purchaces and may think about stashing some cash away "just in case". It doesn't matter if you work for Birkshire or not, business is business and even if they did get a tax break, even if it will only save $30 million, even if they get bad press from it, if the bean counters say its the right move...it will be done.

No need to freak out, just be prepared.

Oh, and If you get upset about rumors, why the HE!! do you visit F.I.?

 

[gunfyter]

"...I come to bury rumors not to praise them...."

The difference with bean counters is this ...

The only Bean Counter that matters in this instance is Warren.

 

[xrated]

Ok, I will amend my comment:


It doesn't matter if you work for Berkshire or not, business is business and even if they did get a tax break, even if it will only save $30 million, even if they get bad press from it, if WARREN says its the right move...it will be done.

Oh and BTW,

Shaw Industries, owned by Berkshire Hathaway, let 125 people go.

Union Tank Car, majority owned by Berkshire Hathaway, let 130 peeps go.

Clayton Homes, a subsidiary of Berkshire Hathaway, let 90 go.

Berkshire Hathaway themselves, let 345 people go.

Like I said, Warren will OK cuts, if it makes BUSINESS sense.

As a pilot about to hit the streets...Good luck to everyone!

 

[gunfyter]

Alright...

So unless this guy got his info straight from Warren.... and I don't think Warren tells Charter Brokers what NJ will be doing...

He doesn't know anything.