NetJets 2nd Qtr Earnings

[Xcorporate]

“I just spoke with Warren yesterday,” said Santulli, 65, a onetime head of Goldman Sachs Group Inc.’s equipment-leasing group. “He asked me to send him materials about the company.”

From Aug. 8th, 2010 interview with Bloomberg Businessweek.

So Santulli seems to still have an amicable relationship with Buffett. He probably also has a good idea of the true staffing needs of Netjets. He's asking for resumes from the 495 which to me is not good for recalls. Why would he hire a pilot that is about to be recalled?

They say we are still 200 fat on pilots. That's what the company is saying so it must be true.....Nobody seems to really know how many airframes are on property.

Sokol is being painted as a heartless goon that is ruining Netjets. I get the sense he's just a black and white, raw data type. He doesn't care what the furlough has done to 495 lives. That's not part of the data. Santulli did care which is why we had the preventative measures....

I don't see recalls for a long time. I know my loyalty to Netjets is a fraction what it was prior to the furlough. We have all been handled...I was never told that I was being hired for "projected growth". That's what they told us after we lost our jobs...nice.

 

[gunfyter]

12 O'Clock High

Maj. Gen. Ben Pritchard: I guess I don't have to tell you what's coming, Frank. I'm promising you nothing except a job no man should have to do who's already had more than his share of combat. I've gotta ask you to take nice kids and fly them until they can't take any more, and then put 'em back in and fly 'em some more. We've got to try to find out just what a maximum effort is. How much a man can take and get it all.

Brig. Gen. Frank Savage: I'm just getting started. You're gonna stay right here and get a bellyful of flying. You're gonna make every mission.

General Frank Savage: You've been looking at a lot of air lately... and you think you ought to have a rest. In short, you're sorry for yourselves. I don't have a lot of patience with this, "What are we fighting for?" stuff. We're in a war, a shooting war. We've got to fight. And some of us have got to die.

I'm not trying to tell you not to be afraid. Fear is normal. But stop worrying about it and about yourselves. Stop making plans. Forget about going home. Consider yourselves already dead. Once you accept that idea, it won't be so tough. Now if any man here can't buy that... if he rates himself as something special, with a special kind of hide to be saved... he'd better make up his mind about it right now. Because I don't want him in this group. I'll be in my office in five minutes. You can see me there.
​

 

[gutshotdraw]

By the way, one of our fairly senior guys just left to go fly an airplane procured through the new RTS enterprise. Things that make you say "hmmmmm"

 

[CA1900]

Hey, we had guys leave to work at Skybus, too. :laugh:

 

[Xcorporate]

Hey, we had guys leave to work at Skybus, too. :laugh:

Yeah but..........yeah. what more can you say.

 

[jenex]

By the way, one of our fairly senior guys just left to go fly an airplane procured through the new RTS enterprise. Things that make you say "hmmmmm"

Maybe he didn't want to be in a union.

 

[rajflyboy]

With apologies to Dear Wormer: "Bitter, lazy and angry is no way to go through life son."

If thats all the argument you can bring against what I want then its obvious that I win the argument.

I want the representation to start doing a better job supporting pilots. Do you have a problem with that?

We are paying out some where in the range of 4 million dollars a year into the union pot. We deserve something for this.

 

[rajflyboy]

Recalls won't happen for a long long time. Guys are still showing at home according to a union rep.

I'd like to hear from some of the guys that are staying at home.

 

[Jack Campbell]

I'd like to hear from some of the guys that are staying at home.

Sounds like they don't want to jinx themselves back to the line. Like when ATC asks if the ride is still smooth and then you get moderate chop 2 minutes later. :laugh:

 

[RideandDrive]

There are a few fleets in the company supporting the flying hence the fly your ass off guys. On the other hand a few other fleets are not flying much and hence the show at residence guys.

I would guess the 2011 financials are going to be poor. However, by that time I'm sure Sokol will be long gone with a Berkshire lapdog taking the heat.

 

[rajflyboy]

Sounds like they don't want to jinx themselves back to the line. Like when ATC asks if the ride is still smooth and then you get moderate chop 2 minutes later. :laugh:

I think you are correct!!

The so called slowest fleet is actually very understaffed and not many people are staying at home from what I'm seeing.

 

[DAS at 10/250]

, but company claims we don't have jets simply sitting around, so who knows?

Has anyone dug around in the hangers at CMH and LUK? I was in LUK just before 15 Jan and spoke with some EJM MX guys. They said they were busier then a three peckered goat WC'ing QS tails and were in the process of hiding them at LUK, a new hanger in CMH, and somewhere out west of the Rockies. These guys were so worried that they were openly talking about where they would be working in a year. Two guys pointed out three hangers at LUK where QS and WC tails were being hidden in excess of the 22 on the ramp, and yes, I did take pics.

 

[jtf]

Who knows how many extra we really have? Management has told us we were over 100 airframes fat, and yet they have only sold off 2 or 3 of these airframes in all of 2010. I know the market isn't there for used airframes, but I would think we would have been able to ditch some more if we were really trying to get rid of them. The things we have been told by management have changed so much over the last year that I just have no idea any more what is real. I don't believe Sokol will recall anybody while he is the CEO unless they get stuck and have to sell off too many days and are contractually forced to do it, but as far as what airframes are for sale and what are supposedly parked, I have no clue and wouldn't be surprised by almost any number I heard now.

 

[Xcorporate]

If it's contractual to have X number of pilots per plane, how do they know the company is in compliance? These numbers should be published monthly, if they are indeed 200 pilots fat then prove it. The union has moved on as far as I can tell with 2 guys willing to talk to the furloughed. pathetic...

 

[OPECJet]

I think it's time to stop bothering with NJA threads and the NJASAP board. Not much there save for the two folks you're talking about since we've been segregated from the active pilots.

I'm pretty much done with all of it. I'd put it in the rear view, but there's nothing in the windshield either.