Flight Options Pilots Take Monthly Pay Cut

[FamilyGuy]

And I frankly don't know if the "profits" that NetJets posts are legit or not, because you can sugar coat all the numbers and make them sound good when they're really not when you have a mega company like Berkshire Hathaway.

Sounds like you need to brush up on a recent law called Sarbanes Oxley.

Federal law now requires company executives to sign off on all financial statements and swear that they are a true and accurate representation of the company's performance. If they lie they go to jail.

 

[bgaviator]

fracs......

I didn't know about that law.....sorry
I believe when Raytheon discloses their financials though, you can never really tell how Flops is doing because they list it in the "Other" category.....

 

[FamilyGuy]

I didn't know about that law.....sorry
I believe when Raytheon discloses their financials though, you can never really tell how Flops is doing because they list it in the "Other" category.....

If a conglomerate like Raytheon is reporting financial results by sector and combining the results of several operations into one line item then it does become very difficult to know exactly how any given operation is performing.

You may be able to get more insight by reading the annual report (or searching it for references to "Flight Options"). This is where you will learn more about the individual results.

You'll see the same issue with NetJets results. Berkshire combines the financial results with Flight Safetys when they report, but Buffett frequently talks about each company's performance.

 

[Rez O. Lewshun]

Paycuts means managment failed.

 

[Guitar Guy]

Paycuts means managment failed.

And that someone has to clean up their mess.

 

[Guitar Guy]

I honestly don't know how any of the fractionals make money. It just doesn't seem like it's a good business model.

As suggested, read up on Sarbanes Oxley (aka "Sox"). And for further reading, try this thread: http://forums.flightinfo.com/showthread.php?t=94801

Lastly, do you see Warren Buffett trying to sell off NetJets?

 

[NJAowner]

Bi-monthly and semi-monthly

A Bi-weekly paycheck comes every 2 weeks. A bi-monthly paycheck comes every 2 months. A semi-monthly paycheck comes twice per month. Most state's labor laws require employees to be paid at least twice per month.

No matter when the check arrives the annual pay should be the same.

Fly safe.

 

[RNObased]

Sounds like you need to brush up on a recent law called Sarbanes Oxley.

Federal law now requires company executives to sign off on all financial statements and swear that they are a true and accurate representation of the company's performance. If they lie they go to jail.

Nice work family guy. Someone needed to slap this guy down.

Back to our regular programming.

 

[futurepizzaguy]

I agree with NJAOwner....if the salary is the same...why does it matter how often the paycheck comes? There are many companies that pay now every 14 days....don't think its a paycut though. Am I missing something?

 

[Ultra Grump]

If you do the math, they are indeed shorted 40 hours in a Jan-Dec year. If they were going to make a change like that, they should do it at the beginning of the year, though looking at the dates he described, they are probably basing the change on the fiscal year.