NET JETS PARENT CO. BERKSHIRE HATHAWAY LOSES 7 *BILLION* TODAY ALONE? per ABC NEWS

[Voice Of Reason]

"Not get the call to the company???"
Seriously, some of you are pieces of work.
7 billion dollars in one day is certainly worthy of discussion in ANY company. While some would like to have only the Kool-Aid version of one's company out there, educated people like to look at EVERYTHING, critically.
Why would anyone be offended that a newsworthy story is discussed in a forum where people are looking to learn ALL aspects of these companies, in real news fashion...not just the egotistical rants of a few individuals in a "flavor of the month" job who don't understand the cyclical nature of the industry, --and how they carry themselves now will affect the perception of those in their pilot group in the future.
I don't remember FLOPS pilots being quite so nauseating when THEY were the highest paid and being treated like kings by Ricci (long before they took over RTA). NetJets guys were begging THEM for job info, and now a vocal few have the audacity to act like West Virginia Lotto trash? Weren't you still owned by Warren Buffet when you had embarrassingly low wages? It all cycles, and today's gloating peacocks may surely find themselves tomorrow's dodobirds.
Think about it, and understand how trashy you sound gloating about your nouveau "riches" while the owners (and other pilots for that matter) laugh about how little it takes to make the little people feel important.
Nice discussion ability....everyone must just be "jealous." :nuts:

 

[RubberDuck]

.......

 

[igneousy2]

"Not get the call to the company???"
Seriously, some of you are pieces of work.
7 billion dollars in one day is certainly worthy of discussion in ANY company. While some would like to have only the Kool-Aid version of one's company out there, educated people like to look at EVERYTHING, critically.
Why would anyone be offended that a newsworthy story is discussed in a forum where people are looking to learn ALL aspects of these companies, in real news fashion...not just the egotistical rants of a few individuals in a "flavor of the month" job who don't understand the cyclical nature of the industry, --and how they carry themselves now will affect the perception of those in their pilot group in the future.
I don't remember FLOPS pilots being quite so nauseating when THEY were the highest paid and being treated like kings by Ricci (long before they took over RTA). NetJets guys were begging THEM for job info, and now a vocal few have the audacity to act like West Virginia Lotto trash? Weren't you still owned by Warren Buffet when you had embarrassingly low wages? It all cycles, and today's gloating peacocks may surely find themselves tomorrow's dodobirds.
Think about it, and understand how trashy you sound gloating about your nouveau "riches" while the owners (and other pilots for that matter) laugh about how little it takes to make the little people feel important.
Nice discussion ability....everyone must just be "jealous." :nuts:

Take it EASY!

What is your question?

I disagree with your whole premise that this is in fact a newsworthy story. If Berk-Hath had in fact LOST 7.0 billion dollars in one day...then yes maybe it would be a front page story.


However...I do not agree that this is newsworthy because Berk-Hath did NOT lose 7.0 billion dollars today...it is just the same old sensationalist media preying on the ignorant. The value of all of the outstanding shares (market value) went down 7.0 billion dollars. A lot of the stockholders (including uncle Warren) lost some money, but that had ZERO impact on the operation of the company... but the "sky-is-falling" media ignores the good...so many people think that the mainstream media is an unbiased...informed source of news when in reality it is not. This article was taken WAY out of context. The thing that upsets me is that the mainstream media either chooses to ignore or does not bother to find out the real story. If you actually go and READ the Barrons article from a "health of the company" point of view you will find that it is actually a positive article.

In fact none of the mainstream media even mentioned the part of the article that said that Berkshire-Hathaway is in the enviable position of being FLUSH with cash to the tune of about 65 BILLION dollars.

To put that into perspective...Berkshire Hathaway could go on the open market and buy AMR(4.0B), CAL(2.3B), DAL(3.9B), UAL(4.0B), SWA(9.4B), NWA(3.7B), USA (1.4B), AS(1.0B) 2 TIMES and still have cash left over. Did I miss anybody?

The article also said that Berk-Hath is rumored to be on the verge of a MEGA deal in which Berk-Hath would pay CASH for one of the distressed financials. I didn't see anything about that in the mainstream media. The articles i've seen also haven't mentioned that Berk-Hath stock is UP over 20% since August of this year AFTER todays drop.

All the article said was that right now there are better deals out there for investors. That's it. It did not say anything even implying that "the sky is falling" at Berk-Hath .

As far as a successor for the Oracle of Omaha, Buffett has repeatedly stated that there is a succesorship plan in place that only he and the board know about. He hasn't said who...but he has said NUMEROUS times that there will be two, one in charge of the stock portfolio, and one in charge of the acquisition side of the business. As far as Warren being a figure head...that is complete balony, he is well known as a hands on CEO when it comes to Berkshire-Hathaway business and is still very much involved in the day-to-day operation of the company. That being said, when it comes to the operation of the subsidiary companies, aka NetJets, he is very hands off - according to him - he buys great companies with great management and leaves them alone.

 

[gutshotdraw]

Reportedly, those two names are in a safe in Omaha to be opened upon his passing.

Uncle Warren once said the toughest part of the job was locating companies worth buying with the RIDICULOUS amounts of cash BH generates. I wouldn't worry too much about the stock price since I doubt any of you out there can afford one share of the A stock....well, maybe except for NJAOwner.

 

[pilotyip]

My ex EAL buddy who bought one share in the 80's for $6000 will be devasted.

 

[Voice Of Reason]

Weren't you still owned by Warren Buffet when you had embarrassingly low wages?[/i] It all cycles, and today's gloating peacocks may surely find themselves tomorrow's dodobirds.
Think about it, and understand how trashy you sound gloating about your nouveau "riches" while the owners (and other pilots for that matter) laugh about how little it takes to make the little people feel important.
Nice discussion ability....everyone must just be "jealous." :nuts:

Wal-Mart is a multi-billion dollar corporation as well....Uncle Warren's outfit could easily determine that the old way was the right way. There are all kinds of sneaky ways to work around a "contract," as the airlines have shown.

 

[bailey3083]

I have heard that Warren is impressed with what Johnny O has done over at Mesa and is thinking about offering him the job. LOL

 

[BeechScrub]

I guess now the stock is on sale, or at least fairly valued. Perhaps it's time to buy? Where did I put my extra $135K?

 

[Jack Mehoff]

no. Pilot raises are bankrupting the company.

don't forget our signing bonuses too! haha I guess we all better apply to jetblue now that berk is falling

 

[popgoesbubble]

Wal-Mart is a multi-billion dollar corporation as well....Uncle Warren's outfit could easily determine that the old way was the right way. There are all kinds of sneaky ways to work around a "contract," as the airlines have shown.

Yeah Like that's gonna Happen "Voice Full Of Semen" You obviously don't Know anything about the Pilot group here and IBT. So Just curious are you a pilot or just some management type with his hand in his pant that got screwed while at a Major?