NetJets--Earnings Release

[B19 Flyer]

Wow, how passive aggressive can you get?
From your previous posts, you have little regard for pilots.
B19/skanza/disingenuous/no credibility

All my posts have done nothing but defend pilots and the industry. You guys defending unions are the ones that don't defend the industry, all you want to do is price it out of existence.

The simple fact that what is happening now I've been saying for three years is enough to lend credibility to all of my posts, and the fact that you refuse to believe it's happening to me is hilarious. :laugh:

 

[jppt2000]

You can't handle the reality of what's happening at NJ can you? I responded to a post, it was relevent to the conversation.

Nothing is happening that hasn't happened before... a huge over-flated industry leading CBA is signed, everybody's happy, the economy goes to crap, the industry leading CBA gets corrected after crippling the company.

It's reality.... get with the program... it's gonna happen because you have a union on the property, it's as predictable as the sun coming up in the morning.

Oh, and the industy was crippled before 9/11, United, Delta and American had already stopped hiring and were getting ready to furlough based on the economic crisis. 9/11 simply accelerated what was happening already. It's reality, you just choose to place your head in the sand. It's repeating itself over and over, nothing new unless the pilots in your company were smart enough not to bring a union onto the property.

Again no credibilty, there was a union on property long before you became a shill for your anti-union employers.

 

[clickclickboom]

B19 can spew all he wants but I remember back in 1999/2000 when I was a flight options pilot making $65000 a year. I was at the Jet Center in PBI sharing our two extra rudys crew meals with an netjets "EXEC JET " crew

I think they were on the Hawker 1000. The capt was making $45,000 a year to fly a plane that was twice as big as my beechjet.

All the pilots at NJA are guilty of was being fed up with industry substandard in every respect. They are still underpaid in my opinion.


Even mentioning pilot pay because of the global situation is foolishness. Netjets should look at this as an opportunity. Just imagine the situation that flops, shares, or flex find themselves in right now?

Can you imagine flops trying to cut the check to the shareholders right now?

 

[BeeDubya]

B19,

Please read my posts before replying to them. What you answered had nothing to do with what I stated/asked.

Brian

 

[jppt2000]

All my posts have done nothing but defend pilots and the industry. You guys defending unions are the ones that don't defend the industry, all you want to do is price it out of existence.

The simple fact that what is happening now I've been saying for three years is enough to lend credibility to all of my posts, and the fact that you refuse to believe it's happening to me is hilarious. :laugh:

The industry?
Who appointed you the voice of the industry?
You certainly don't speak for me.
What credentials or organization appointed you?
A few lyrics from Don Henley's song, Garden of Allah describes B19/skanza perfectly:

I am an expert witness because I say I am
And I said gentlemen, and I use that world loosely
I will testify for you, I'm a gun for hire,I'm a saint, I'm a liar
Because there are no facts, there is no truth
Just data to be manipulated
I can get you any result you like
Whats it worth to you?
Because there is no wrong, there is no right
And I sleep very well at night
No shame, no solution, no remorse, no retribution

No validity/credibility/identity, shame on you B19.
Keep laughing

 

[fischman]

Poor KB. :smash:

No one likes him.

 

[ArtVandalay]

B19, I don't know much about you but, it seems you have some fans on here. I'm not understanding your logic in the "union problem" at netjets. If the company wants to layoff, they layoff. As someone said earlier, the salaries of the pilots are an ant on a mountain compared to the whole. They wouldn't layoff pilots because they need the money, they lay them off because they don't want to pay them to do nothing. It's all about production and protecting the company, not busting the union down so they can lower wages. Not one fractional has lowered pay during all of this--even the none union fracs, such as us at flexjet--we actually got an increase in daily rate this year(all be it after they reduced our schedule). I just don't understand what the union has to do with the financial stability of the company in these times. I would hate to see netjets layoff now because all that would do is validate everyone else's layoffs and take our hand out of the cookie jar.

 

[FLYLOW22]

B19

Heeeerrrrre's Kevin!!

 

[AvroJockey]

Write downs and downsizing expenses, whether voluntary or not, are losses. Sales were down overall by over 40% and aircraft sales were down 82%. The company lost a heck of a lot of money any way you look at it.

Doubtful that the write downs will ever reverse as the market is already flooded with a/c and they have been trying to dump their excess already.

The write downs on the a/c inventory don't generate tax losses until realized and it is crazy to lose a dollar to save 35 cents in taxes.

Things can't be looking too good for the 3rd qtr either as they decided a change had to be made. There is no good news here and ignoring, or rationalizing, the numbers won't make it better.

You're correct, however, there's a reason they're taking all of these writedowns at the same time. BTW guess what happens when preowned share values go up...profits.

I have a small side business that has assets, no airplanes, but assets. When they depreciate I get to write them off, however, I really didn't loose or gain anything tangible. NJA is a little different because the preowned aircraft are only NJA's in the interim, they're really the owners asset. When the aircraft market returns, which it will, NJA maybe set to make some pretty nice $$$ by selling the preowned shares they bought back at fair market value. They are actually sitting on a potential gold mine right now.

With that said they have a bunch of airplanes that don't need pilots, so I still think there might be furloughs. What I think RTS was doing was maintaining the emotional fabric, so that when the aircraft market returns we have a highly motivated and dedicated employee group...we would kill the market if this happened.

The question really is OPERATIONAL LOSSES...what are they and how would a furlough effect them in the short term and long term? If your losses are a result of devaluation, then a furlough isn't going to change that. You really need to look at the profit loss statement and balance sheet to get a good idea of what's going on.

BTW, a furlough might be necessary, but without any pilot knowing the whole picture (all the financials) you really can't form an opinion either way. Doing so is just stupidity.

Also, you're assessment of aircraft values returning is completely false. That's the equivalent of saying home values will never return...which they already started doing.

Read some of NJAowners insight...he's smart. That's why he's the owner and were the pilots.

 

[AvroJockey]

Nothing is happening that hasn't happened before... a huge over-flated industry leading CBA is signed, everybody's happy, the economy goes to crap, the industry leading CBA gets corrected after crippling the company.

Just how in the heck do you know it's our pay that's causing any of these losses? You don't! Without a 10-Q or 10-K, you really can't make any assertions. Making parallels between United and NJ without all the numbers is plain foolish.