jpm chase

[landlover]

http://http://news.yahoo.com/s/nm/20110205/ts_nm/us_iraq_crash

RIP to all. Seems unlikely that this is directly related, but food for thought.

 

[gret]

Well, whoever the he!! it was, someone shut down their in-house operation in Chicago and moved back East with Jet management. I talked to a guy in London when it was happening and one of the current management guys at Boeing was riffed out when they moved.

TC

Just to clear this matter up-

Morgan Stanley had an a/c in Chicago (at that time, they were owned by Dean Witter which was owned by Sears) that was jointly managed in house along with a another flight department. Phil Purcell was the CEO and didn't care for NY and preferred being based out of Chicago. When John Mack became CEO of MS, the a/c mgmt function was moved to Jet Aviation as they managed the Credit Suisse a/c when Mack was there.

Jet Aviation had managed the Chase & Chemical Bank a/c for approximately 20 years. When Chase acquired JP Morgan, the JP Morgan Gulfstream was folded into the Chase fleet and managed by Jet Aviation. In 2004, Jamie Dimon became President and COO of JP Morgan Chase, and he took the management function in-house about a year later. He was previously the CEO of Bank One (acquired by JP Morgan Chase in 2004) in Chicago and, if I remember correctly, they managed the a/c in house and Dimon was comfortable with that type of operation and thought he could save money.
​

 

[Newkem]

Lol

Countrywide?

 

[Newkem]

Lol

I think it was HSBC?

I think it was Countrywide. :0

 

[PMVULB AvMgr]

Just to clear this matter up-

In 2004, Jamie Dimon became President and COO of JP Morgan Chase, and he took the management function in-house about a year later. He was previously the CEO of Bank One (acquired by JP Morgan Chase in 2004) in Chicago and, if I remember correctly, they managed the a/c in house and Dimon was comfortable with that type of operation and thought he could save money.
​

You are correct - the in-house flight department was founded in February of 2005. It was initially situated in Avitat's hangar at HPN, and then moved to the old BMY hangar when they moved to TTN. The department moved to the old GE hangar (at hangar E) in early fall of last year after extensive and VERY expensive renovations of that hangar.

The Bank One operation was closed down at MDW and their 2 Falcons were moved to HPN. This was in 2006. Some of the BO people decided to go with the airplanes and xfrd to HPN. Eventually the entire fleet was replaced, and currently consists of 2 550's, 2 450's with a couple of 650's on order. Many of the old Jet Avtn pilots who went to the in-house operation are still there - some of them in their mid sixties!

Doing things the right way do not count - who's butt you lick is all that matters. Good luck if you get in - it's gonna be a rocky ride.

 

[semperfido]

. Many of the old Jet Avtn pilots who went to the in-house operation are still there - some of them in their mid sixties!

Doing things the right way do not count - who's butt you lick is all that matters. Good luck if you get in - it's gonna be a rocky ride.

I heard that too, directly from someone that worked there and someone I trust. Maybe, it's different now as that was a few years ago.

 

[PMVULB AvMgr]

I heard that too, directly from someone that worked there and someone I trust. Maybe, it's different now as that was a few years ago.

I strongly doubt it. The chairman ignores many things that occur in the flight department - the director of the department is a total snake with many holes in his own resume, and does not appreciate talent - only those who play the game HIS way.

 

[gret]

Sorry to hear this.

Knew some of the Jet Aviation pilots and they had been with them for a long time. Management at Chase were good people and treated everyone, that deserved it, right.

 

[PMVULB AvMgr]

Sorry to hear this.

Knew some of the Jet Aviation pilots and they had been with them for a long time. Management at Chase were good people and treated everyone, that deserved it, right.

Yes, without question the old Chase folks were superb - but once Dimon took over the company he put all his own people at 320 Park Av - most of them only see $ signs; people don't matter.