NetJets 2nd Qtr Earnings

[FLYLOW22]

Thank you!

Very informative-

Bought back 53 a/c.
New CEO by y/e or 1st qtr.
Marquis down 60%
​

Ha. Yes... in that you can see:

1) Standing by contract commitments with Berkshire money.
2) Mission accomplished for "Mr. Fix it."
3) Something else materializing that isn't for me to comment on yet.

You forgot to mention:

1) 70% market share. That's a big number chief.
2) Several haters who were ushered off the property who can't help but take shots to feel better about their own failures.
3) Stabilized numbers showing positive trends tied to the GDP.

 

[FLYLOW22]

Thank you. And...you don't have to be a jerk about it. You don't have to be, but you are.

This is the 2nd time he has mentioned he will be stepping down this year. The other one was in Fortune magazine 2 weeks ago.

You're welcome.

 

[gret]

"3) Something else materializing that isn't for me to comment on yet."

You mean the future of the card marketing operation?..heard about that.

 

[jtf]

So will Sokol have any official position or power after he replaces himself as CEO? If I remember correctly, he has stayed on as Chairman of the Board at several other companies he has righted and has therefore been able to continue pulling quite a few strings. I don't think there is a board of directors for NetJets so I don't know how he will keep his hands on the strings. My guess is the CEO will be whoever he thinks will follow his philosophy the most closely.

 

[gret]

Never seen a corporation without a board, even with only one shareholder.

One would think that DS will be Chairman as the next CEO of NetJets probably won't be reporting to WB.

 

[jonjuan]

You forgot to mention:

1) 70% market share. That's a big number chief.

Source? And no, not Captain Dad's "source.".

Thanks Geronimo.

 

[OPECJet]

Thanks for the link. Even though this is not a popular take of Sokol, I'm gonna say it anyway. I LIKE THE GUY! I know he was the axe-man at Netjets (and I AM one of the 495), but I think he did what needed to be done. Don't think he is a total genius for what he did, because I do think the ship would have been partially righted on its own, and that most of our loss was aircraft buy-backs for writedowns, but he did cut out alot of the FAT.

Nothing personal, but where'd you find the Kool Aid?

 

[FLYLOW22]

So will Sokol have any official position or power after he replaces himself as CEO? If I remember correctly, he has stayed on as Chairman of the Board at several other companies he has righted and has therefore been able to continue pulling quite a few strings. I don't think there is a board of directors for NetJets so I don't know how he will keep his hands on the strings. My guess is the CEO will be whoever he thinks will follow his philosophy the most closely.

BOD = Berkshire.

 

[FLYLOW22]

Source? And no, not Captain Dad's "source.".

Thanks Geronimo.

Post 67.

 

[gret]

Directors must be individuals.

Sokol already is the Chairman of the Board.