NetJets--Earnings Release

[RTRHD]

HMMM Let's see--I think if you look back at my earlier threads (about 2 weeks ago)I said Netjets was bleeding out at a rate 2 mil a day for the first half of the year and was thoroughly brow beaten and told how wrong and screwed up I was by several on here. (you know who you are) But I think these numbers pretty much vindicate my statement. I also mentioned which entities were making money and which were not--take my word for it guys, I got that right too. I also made a few more statements about furloughs. They are coming guys! If you know anything about the psychological approach to an HR department you will know that they advocate lay-offs and furloughs during peak emotional highs---think holiday season! The rationale is that people are way up so when you take them down the low isn't AS low as it would normally be. Watch between Thanksgiving and the first 2 weeks in Jan for 300-500 pilots to go out the door. The dust doesn't need to settle on the early out and LOA packages, they already have a good idea what those numbers are and they aren't good enough. Read WBs biography Snowball if you want a little insight. He isn't that grandfatherly image you see on TV. RS was too compassionate in his "right sizing" efforts for the BH boys. I've seen it at other companies that are BH owned or where WB is on the board and carries the big stick. The blood letting is coming---operationally it will come relatively fast---from the HR perspective on the time table I predicted above unless the economy makes a miraculous recovery. There aren't going to be anymore compassionate "please leave" programs. Here is your 2 months furlough pay--cya! FOR WHAT IT IS WORTH DEPARTMENT: THIS IS ENTIRELY SPECULATION ON MY PART. But I have a pretty good track record so far!

Now I have a question for the "in the know" union bretheren. If BH wanted to sell off assets from NETJETS---hypothetically let's say NJI (Okatie, SAV maintenance, etc.) to an outside buyer (think one that is no longer employed by Netjets or say General Dynamics or Gulfstream) could they? What are the limitations imposed by the CBA or LOAs that would prevent this type action? I also understand that multiple owners have the airplanes---could they not transfer the management of these aircraft if they so desired? I don't know the answers to these questions--just asking!

The conspiracy grows!

GD has been playing for us for awhile. Good guess.

 

[harley30344]

GD has been playing for us for awhile. Good guess.

Just speculation rotor just speculation--lol

 

[RTRHD]

Just speculation rotor just speculation--lol

Not really!!!! And the CBA don't matter.

 

[harley30344]

Not really!!!! And the CBA don't matter.

Are you saying there is nothing in the CBA or LOAs that would prevent that? I honestly don't know.

 

[gunfyter]

Harley,

If all the pilots worked for NO PAY in the first half of this year ... or if we refunded to the company all of our pay .... Would NJ have shown a profit or loss in this BRK release?

My back of an envelope calculation is that losses in this report were about twice the payroll.

 

[harley30344]

Harley,

If all the pilots worked for NO PAY in the first half of this year ... or if we refunded to the company all of our pay .... Would NJ have shown a profit or loss in this BRK release?

Seems pretty clear to me--there would have still been major losses. Is there a point other than the obvious?

 

[RTRHD]

Are you saying there is nothing in the CBA or LOAs that would prevent that? I honestly don't know.

Yea, In section 1105 it states every flight dept. Must operate under NJASAP LOA forever No exceptions. Even in the event the world ends all matters will be brought up for review. OK I am being silly. :nuts:

 

[gunfyter]

Seems pretty clear to me--there would have still been major losses. Is there a point other than the obvious?

Yes. Just addressing some comments on a previous page referring to unions damaging a company....

What is happening to us now doesn't have anything to do with the pilots at NJ (union or nonunion)....

 

[HazMat]

I am really sorry guys I hope things work out. It is not good for the entire industry when the big dog is falling apart like this. Lets all hope things turn around soon

 

[harley30344]

Yes. Just addressing some comments on a previous page referring to unions damaging a company....

What is happening to us now doesn't have anything to do with the pilots at NJ (union or nonunion)....

Your right gun--that is not the driving factor in this case.

Rotor--you so funnie!