Net Jets to Furlough 500...??? Right...

[jppt2000]

Whatever, yuk it up. AIN posts what they are given by NJ. Ya'll havin a good time busting on me, but no one has posted a single hard number.

Fractional models are like a pyramid scheme where they HAVE to continue to grow or the whole thing collapses. You have to sell new shares so you can sell old planes at profit and keep the operation going.

Guess what? The used plane market has tanked. Still yuk'n it up? Not one of the fractionals have a sustainable business model, possibly save one. When the new sales dry up and the ability to sell aircraft to shore up cash flow ceases then it's gonna get tough.

Gotta get back to my village now...

enjoy....

Glass,
Amazing, riveting in-depth analysis.
I'm sure "they" didn't listen to you about Madoff too.
Which one of the frac. models will work?
hmmmmmmm could it possibly be the one you fly for?:erm:

 

[CA1900]

Fractional models are like a pyramid scheme where they HAVE to continue to grow or the whole thing collapses.

Since you've already claimed that you "don't think NetJets has ever made money," and I provided documentation to the contrary, I'm going to take your analysis of our business model with a grain of salt. :erm:

 

[gunfyter]

That Village must be in an Alternate Reality....

 

[glasspilot]

...and I provided documentation to the contrary...

Sorry, I missed it. Unless you meant the reference to AIN. In which case, refer back to my last post. Anywho...

Yeah, I'm sorry all. This is FI. No room here for dissenting ideas. My bad. Let me get us back on track...

B19 sucks, unions are great, Obama sucks, NetJets haters need to get a grip, a few of us are awesome, just not me. Back to normal. Sorry for the interlude...

Forgive me. NetJets is truly great and makes tons of cash. Always have and always will. Not a worry in the world. Don't get me started on the crazy idea of furlough! Never happen! What, with all the crazy cash AIN reports NJ making? Next topic...nothing to see here...

I should have known my thoughts (and labeled as "my thoughts") would have no place here and should be written down, burned, ashes put in a bottle and thrown into the ocean. Who is that GlassPilot anyway? Get the mob and go after HIM! He must be the source of all these problems...

 

[CA1900]

Sorry, I missed it. Unless you meant the reference to AIN.

No, I posted a link to a Berkshire Hathaway annual report, which detailed the money we made for BH in 2006.

You're welcome to whatever thoughts you want to put down. We all have our opinions. But referring to our business as a "pyramid scheme," when you don't have the facts of our business right, does a disservice to everyone reading. That's my only point.

 

[jppt2000]

Sorry, I missed it. Unless you meant the reference to AIN. In which case, refer back to my last post. Anywho...

Yeah, I'm sorry all. This is FI. No room here for dissenting ideas. My bad. Let me get us back on track...

B19 sucks, unions are great, Obama sucks, NetJets haters need to get a grip, a few of us are awesome, just not me. Back to normal. Sorry for the interlude...

Forgive me. NetJets is truly great and makes tons of cash. Always have and always will. Not a worry in the world. Don't get me started on the crazy idea of furlough! Never happen! What, with all the crazy cash AIN reports NJ making? Next topic...nothing to see here...

I should have known my thoughts (and labeled as "my thoughts") would have no place here and should be written down, burned, ashes put in a bottle and thrown into the ocean. Who is that GlassPilot anyway? Get the mob and go after HIM! He must be the source of all these problems...

Alas poor Glass.
Reread some of your goofey posts, especially the one that ignores factual info, then insinuates your company's business model will prevail.
Dissenting ideas? IMHO you were ranting.

 

[HazMat]

Aren't we in 2009? Why would 2006 numbers have any relevance. There has been nothing in Berkshires quarterly reports of late to suggest netjets is making money.

 

[CRJFlyer]

Not sure if ya read the whole post..He was referring to Glasspilot saying NJA has NEVER made money...

We then called Glasspilot the village idiot...

 

[glasspilot]

Okay, I labored through the 2006 report. For a financial report it reads pretty weird with stories mixed in about two guys looking for their wives in a grocery store, brothels and mortuaries incentive stamp programs and the like. In the whole thing (81 pages) there is only the top third of page 13 that deals with Net Jets specifically. Here it is:


A much improved situation is emerging at NetJets, which sells and manages fractionally-owned aircraft. This company has never had a problem growing: Revenues from flight operations have increased 596% since our purchase in 1998. But profits had been erratic.

Our move to Europe, which began in 1996, was particularly expensive. After five years of
operation there, we had acquired only 80 customers. And by mid-year 2006 our cumulative pretax loss had risen to $212 million. But European demand has now exploded, with a net of 589 customers having been added in 2005-2006.

Under Mark Booth’s brilliant leadership, NetJets is now operating profitably in Europe, and we expect the positive trend to continue.

Our U.S. operation also had a good year in 2006, which led to worldwide pre-tax earnings of $143 million at NetJets last year. We made this profit even though we suffered a loss of $19 million in the first quarter.

Credit Rich Santulli, along with Mark, for this turnaround. Rich, like many of our managers, has no financial need to work. But you’d never know it. He’s absolutely tireless – monitoring operations, making sales, and traveling the globe to constantly widen the already-enormous lead that NetJets enjoys over its competitors. Today, the value of the fleet we manage is far greater than that managed by our three largest competitors combined.

There’s a reason NetJets is the runaway leader: It offers the ultimate in safety and service. At Berkshire, and at a number of our subsidiaries, NetJets aircraft are an indispensable business tool. I also have a contract for personal use with NetJets and so do members of my family and most Berkshire directors. (None of us, I should add, gets a discount.) Once you’ve flown NetJets, returning to commercial flights is like going back to holding hands.

So, the money;

By mid 2006 (year of the report) total Europe projet pre-tax loss = $212 M

2006 world wide earnings $143 M (despite $19 M loss in first quarter)

Looking at just this report my point is arguable. I guess if you define the time periods right then you can show a profit, but with other time periods you show loss. My hunch is over the life of NetJets, from first plane to today, you would see a net loss.

But hey, I'm just the village idiot.

 

[jppt2000]

Okay, I labored through the 2006 report. For a financial report it reads pretty weird with stories mixed in about two guys looking for their wives in a grocery store, brothels and mortuaries incentive stamp programs and the like. In the whole thing (81 pages) there is only the top third of page 13 that deals with Net Jets specifically. Here it is:


A much improved situation is emerging at NetJets, which sells and manages fractionally-owned aircraft. This company has never had a problem growing: Revenues from flight operations have increased 596% since our purchase in 1998. But profits had been erratic.

Our move to Europe, which began in 1996, was particularly expensive. After five years of
operation there, we had acquired only 80 customers. And by mid-year 2006 our cumulative pretax loss had risen to $212 million. But European demand has now exploded, with a net of 589 customers having been added in 2005-2006.

Under Mark Booth’s brilliant leadership, NetJets is now operating profitably in Europe, and we expect the positive trend to continue.

Our U.S. operation also had a good year in 2006, which led to worldwide pre-tax earnings of $143 million at NetJets last year. We made this profit even though we suffered a loss of $19 million in the first quarter.

Credit Rich Santulli, along with Mark, for this turnaround. Rich, like many of our managers, has no financial need to work. But you’d never know it. He’s absolutely tireless – monitoring operations, making sales, and traveling the globe to constantly widen the already-enormous lead that NetJets enjoys over its competitors. Today, the value of the fleet we manage is far greater than that managed by our three largest competitors combined.

There’s a reason NetJets is the runaway leader: It offers the ultimate in safety and service. At Berkshire, and at a number of our subsidiaries, NetJets aircraft are an indispensable business tool. I also have a contract for personal use with NetJets and so do members of my family and most Berkshire directors. (None of us, I should add, gets a discount.) Once you’ve flown NetJets, returning to commercial flights is like going back to holding hands.

So, the money;

By mid 2006 (year of the report) total Europe projet pre-tax loss = $212 M

2006 world wide earnings $143 M (despite $19 M loss in first quarter)

Looking at just this report my point is arguable. I guess if you define the time periods right then you can show a profit, but with other time periods you show loss. My hunch is over the life of NetJets, from first plane to today, you would see a net loss.

But hey, I'm just the village idiot.

At least you're making an effort,
IMHO, you can do better
Thank you

Facts are stubborn things; and whatever may be our wishes, our inclinations, or the dictates of our passion, they cannot alter the state of facts and evidence.John Adams, 'Argument in Defense of the Soldiers in the Boston Massacre Trials,' December 1770
US diplomat & politician (1735 - 1826)​