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

[xrated]

I agree with you!

 

[CALRepublic]

It only takes one to start a flaming fest, and everybody follows.

You are all barking up the wrong tree, FlyAurburn didn't start this thread, Tguag6300 did.

FlyAuburn, anything that has to do witht he F word freeks people out, don't post things like that unless its an official source. No worries man

 

[pilot772]

Well guys If you check the Union board there is a message from the Union president who spoke directly with the company president (JC) Good news and I hope it will put some of these rumors to rest for now.:beer:

 

[F/O]

Look, it's still corporate America. Santulli's ultimate job is to provide positive revenues for BH. It looks bad if he doesn't. We know Uncle Warren is not the type of guy that micromanages his CEOs. If the deed has to be done, it will be done.

And if you think the union hasn't at least been *approached* then you are out to lunch. The difference between CS and NJ in the furlough arena is that NJ has a union and management can't just act unilaterally like CS did. Behind the scenes, the union is putting up roadblocks, as well they should. Without the union the F word would likely have already been a done deal. That's what your dues money is going for.

 

[x402]

Well guys If you check the Union board there is a message from the Union president who spoke directly with the company president (JC) Good news and I hope it will put some of these rumors to rest for now.:beer:

Wow, that didn't take long, NJA pilots have access. Why not leave what's on our board over there. There are no points to be made with this crowd.

 

[BeeFCaKe]

Well guys If you check the Union board there is a message from the Union president who spoke directly with the company president (JC) Good news and I hope it will put some of these rumors to rest for now.:beer:

Any chance of a summarization for those that aren't yet at NJ?

 

[pilot772]

Wow, that didn't take long, NJA pilots have access. Why not leave what's on our board over there. There are no points to be made with this crowd.

Notice I didn't post the actual statement just that it was somewhat positive. If the company/Union want to make a public statement I will leave it up to them. I just thought that with this thread's negative perception a post with a positive connotation would help. As we all agree perception is huge in our industry. I know most of us use Flight info as a place to: vent, talk shop, or spread rumors. But, There are actually a few Owners who post/read this board on occasion.

 

[fischman]

Any chance of a summarization for those that aren't yet at NJ?

NetJets has no immediate plans to furlough anyone.

Summary complete.

 

[Tgaug6300]

NetJets has no immediate plans to furlough anyone.

Summary complete.

Fisch,

Thanks for the info. Everyone I didn't mean to start an arguement. Just asking a question. Good luck guys!

 

[flyipilot]

Found this on google news:

NetJets CP Program rated A-1+2009-01-13[FONT=verdana,arial,helvetica,sans-serif]Standard & Poor's Ratings Services today said it assigned its 'A-1+' rating on NetJets Inc.'s $1.4 billion commercial paper program, which is fully and unconditionally guaranteed by NetJets' parent, Berkshire Hathaway Inc. (NYSE:BRK). This program replaces a $1.0 billion commercial paper program that has been in place since December 2005, which was also guaranteed by BRK.[/FONT]
[FONT=verdana,arial,helvetica,sans-serif]"NetJets expects to use the proceeds from this program for general corporate purposes, and it plans to use the full $1.4 billion in the near term," said Standard & Poor's credit analyst John Iten. "However, we do not expect the total amount of debt that NetJets will incur to increase materially from current levels because we expect the company to use most of the proceeds from the increase in commercial paper outstanding to reduce borrowings under its bank credit facility."[/FONT]
[FONT=verdana,arial,helvetica,sans-serif]NetJets--purchased by BRK in August 1998--is the world's largest provider of fractional ownership programs for general aviation aircraft. NetJets generates its revenue and earnings primarily by selling fractional aircraft interests and managing flight operations.[/FONT]

This is the highest rating a company can get. Does not seem like NJ will be laying off anyone soon based on this and their current strength. Yes, Warren Buffett will cut back at other companies owned by him but, most have not. Just because he cuts back in one company, that has zero merrit on the other ones. They are independent.