Goldman

[BentOver]

I dont understand why some people want Santulli back. All he did was spend someone else's money and never earn a return. That is easy to do. Let's get someone that can make a profit, a real one.

Yeah life under Santulli sucked

even Kenny Dichter couldn't bring himself to say Sokol brought the company to profitability. He immediately referred to the "aircraft writedowns" and that "nobody could have seen that coming".. well nobody but Sokoluke:Watch the tape.......

Was the company profitable in '06, '07, and maybe '08?? It took the greatest credit crunch since the 1930's to bring Santulli down, and even that $$ loss was sketchy at best..... It doesn't necessarily take a genius to cut costs, keep an eye on costs, or monitor costs..... What it takes to keep NJA going and growing is a great leader who inspires those who make the company go. and Santuli did that.. Whether it was all an act or not, employees believed him and believed in him to do the right thing.. And for the most part he delivered......

Only reason he was made the scapegoat was because of an ego maniac who thought he was smarter and better than everyone else..... Sokol was the worst thing that ever could have happened to NJA. But in the beginning all the bandwagon jumpers bashed Santulli and jumped on Sokols wagon.. Hell, even the Union was with the Sokol idea, well things certainly chnaged quickly didn't they?????????

 

[gunfyter]

If The Italian did nothing; all we have left is -- Strength -- to make life slightly less frightening...."

Daniel Miller HM Class of 77​

:laugh:​

 

[rajflyboy]

Yeah life under Santulli sucked

even Kenny Dichter couldn't bring himself to say Sokol brought the company to profitability. He immediately referred to the "aircraft writedowns" and that "nobody could have seen that coming".. well nobody but Sokoluke:Watch the tape.......

Was the company profitable in '06, '07, and maybe '08?? It took the greatest credit crunch since the 1930's to bring Santulli down, and even that $$ loss was sketchy at best..... It doesn't necessarily take a genius to cut costs, keep an eye on costs, or monitor costs..... What it takes to keep NJA going and growing is a great leader who inspires those who make the company go. and Santuli did that.. Whether it was all an act or not, employees believed him and believed in him to do the right thing.. And for the most part he delivered......

Only reason he was made the scapegoat was because of an ego maniac who thought he was smarter and better than everyone else..... Sokol was the worst thing that ever could have happened to NJA. But in the beginning all the bandwagon jumpers bashed Santulli and jumped on Sokols wagon.. Hell, even the Union was with the Sokol idea, well things certainly chnaged quickly didn't they?????????

clap clap clap clap clap

 

[CA1900]

I dont understand why some people want Santulli back. All he did was spend someone else's money and never earn a return...

And who told you that? Sokol? You really believe the numbers that lying, unethical snake-in-the-grass gave us?

He manipulated our finances to make himself look good for the BH top spot. To do that, he had to show how "bad" Santulli was.

 

[BentOver]

And who told you that? Sokol? You really believe the numbers that lying, unethical snake-in-the-grass gave us?

He manipulated our finances to make himself look good for the BH top spot. To do that, he had to show how "bad" Santulli was.

Amen!! and I'm not even religious:beer:

I think a first step and good sign was Dichter even mentioning or praising Santulli for his time at NJA...AND sort of downplaying Sokol's profits in referring to the "writedowns"...

When Sokol was around I don't think there was anyway Dichter even talks about RTS.... It's the little things that may start the trend back to normalcy?? I predict that eventually current management starts to do some Sokol bashing and crowd control..... ehhh maybe not, always good to dream though!!

 

[gret]

I dont understand why some people want Santulli back. All he did was spend someone else's money and never earn a return. That is easy to do. Let's get someone that can make a profit, a real one.

ha ha ha ha ha

dumb dumb dumb you are

2009 Berkshire's Annual Report-

The major problem for Berkshire last year was NetJets, an aviation operation that offers fractional ownership of jets. Over the years, it has been enormously successful in establishing itself as the premier company in its industry, with the value of its fleet far exceeding that of its three major competitors combined. Overall, our dominance in the field remains unchallenged.

NetJets’ business operation, however, has been another story. In the eleven years that we have owned the company, it has recorded an aggregate pre-tax loss of $157 million. Moreover, the company’s debt has soared from $102 million at the time of purchase to $1.9 billion in April of last year. Without Berkshire’s guarantee of this debt, NetJets would have been out of business. It’s clear that I failed you in letting NetJets descend into this condition. But, luckily, I have been bailed out.

Dave Sokol, the enormously talented builder and operator of MidAmerican Energy, became CEO of NetJets in August. His leadership has been transforming: Debt has already been reduced to $1.4 billion, and, after suffering a staggering loss of $711 million in 2009, the company is now solidly profitable.

​

 

[Rubber Ducky]

And who do you suppose wrote THAT? RTS, NJ needs you!!!

 

[BentOver]

2009 Berkshire's Annual Report-

The major problem for Berkshire last year was NetJets, an aviation operation that offers fractional ownership of jets. Over the years, it has been enormously successful in establishing itself as the premier company in its industry, with the value of its fleet far exceeding that of its three major competitors combined. Overall, our dominance in the field remains unchallenged.

NetJets’ business operation, however, has been another story. In the eleven years that we have owned the company, it has recorded an aggregate pre-tax loss of $157 million. Moreover, the company’s debt has soared from $102 million at the time of purchase to $1.9 billion in April of last year. Without Berkshire’s guarantee of this debt, NetJets would have been out of business. It’s clear that I failed you in letting NetJets descend into this condition. But, luckily, I have been bailed out.

Dave Sokol, the enormously talented builder and operator of MidAmerican Energy, became CEO of NetJets in August. His leadership has been transforming: Debt has already been reduced to $1.4 billion, and, after suffering a staggering loss of $711 million in 2009, the company is now solidly profitable.

​

Sure they have lost $157million AFTER taking a $711 million dollar loss in 2009. And what was the major if not primary contributor to that 2009 loss... The aircraft writedown brought on by David Sokol.....

I'm not saying the operation wasn't going to lose money, but the main reason for the 11 year net loss was 2009. Ya gotta connect the dots to see where the total losses come from in then end.

Sokol and Berkshire blames RTS for that huge loss in'09... There was an aircraft writedown...... And who knows the accounting methods used to come up with that loss....Well I know 1 person who knows and he isn't gonna talk.....

Fact of the matter is both Netjets and it's employees are vastly better off with RTS at the helm...Anybody who disputes that is simply a bandwagon jumper........ I always found it ironic how many people jumped off the Santulli bandwagon as soon as he left. And then bashed his leadership of NJA. Why, because the new guy said he was a bad CEO......

 

[gunfyter]

Pilots want him back ...
Owners want him back...

I see a trend.

 

[gutshotdraw]

A large portion of the large cabin customers are "Friends of Richie." Whenever Owner Services, or Scheduling, or whoever screwed up and pissed off one of those owners, Richie was there to smooth the ruffled feathers. Nowadays,

A: We're pissing them off more often; and

B: Richie isn't there to smooth the ruffled feathers.

That's a bad combination and the large cabin exodus proves it.

We need RTS back for his connections, marketing savvy, and customer service belief system. We need a numbers guy that RTS and Uncle Warren both trust to keep us from hiring another three dozen VP's of Paper Towels and keep the lid on the stupid spending.

 

[ProFracPilot]

A large portion of the large cabin customers are "Friends of Richie." Whenever Owner Services, or Scheduling, or whoever screwed up and pissed off one of those owners, Richie was there to smooth the ruffled feathers. Nowadays,

A: We're pissing them off more often; and

B: Richie isn't there to smooth the ruffled feathers.

That's a bad combination and the large cabin exodus proves it.

We need RTS back for his connections, marketing savvy, and customer service belief system. We need a numbers guy that RTS and Uncle Warren both trust to keep us from hiring another three dozen VP's of Paper Towels and keep the lid on the stupid spending.

This is an amazingly parallel scenario to what happened here at FlOps. Once our "Ricci" was gone and Sh!tfinger was in charge, owners left en masse. I would say most everyone is pleased that our "Ricci" is back at the helm. At least this company now has a vision for long term growth. It really sucks to be employed with a company that is contracting, or "shrinking to profitability", as we were wont to say.

The turmoil at NJ means more market share is accessible to us (and others in this sector). While that's great for our business, at the same time I hope the pain for NJ pilots is soon over. We at FlOps understand those dark days, and wouldn't wish them on anybody.

 

[BentOver]

A large portion of the large cabin customers are "Friends of Richie." Whenever Owner Services, or Scheduling, or whoever screwed up and pissed off one of those owners, Richie was there to smooth the ruffled feathers. Nowadays,

A: We're pissing them off more often; and

B: Richie isn't there to smooth the ruffled feathers.

That's a bad combination and the large cabin exodus proves it.

We need RTS back for his connections, marketing savvy, and customer service belief system. We need a numbers guy that RTS and Uncle Warren both trust to keep us from hiring another three dozen VP's of Paper Towels and keep the lid on the stupid spending.

Assuming they are still wanting to be in a large cabin a/c...where do they go to? I think the largest a/c any other company flights is the 300??

Totally agree with what you're saying...

 

[gutshotdraw]

Assuming they are still wanting to be in a large cabin a/c...where do they go to? I think the largest a/c any other company flights is the 300??

Totally agree with what you're saying...

They go buy their own. Airplanes are cheap, management companies are stepping up the marketing, and the super-rich want it how they want it.

I think this issue extends to the other fleets as well. I am only speaking about long-term GLC clients I have had direct contact with and what they say about the "new" Netjets.

We seem to be holding our own or even growing a bit with large corporate clients who need the flexibility and relative anonymity of a share. The recent BARR rule changes should help the marketing on that front.

But, if we want our wealthy individual business back, the answer is obvious. The question is whether Uncle Warren is willing to admit a mistake.

 

[BentOver]

We seem to be holding our own or even growing a bit with large corporate clients who need the flexibility and relative anonymity of a share. The recent BARR rule changes should help the marketing on that front.

QUOTE]

agree with you on all fronts...But of course I gotta ask.....being furloughed and all.....

where are you geting the data that says NJA may be even growing a bit with large corporate clients? PM me if ya want... not doubting but am curious....

I agree with the BARR rule changes...Good plug by KD on CNBC squawk box about that.....


Thanks

 

[gret]

Living in the past is really sad.

 

[OPECJet]

I dont understand why some people want Santulli back. All he did was spend someone else's money and never earn a return. That is easy to do. Let's get someone that can make a profit, a real one.

Is that you, Eyer?