NetJets' New CEO On Bloomberg "BRK Succesor" Video

[-FlyAuburn-]

NetJets New CEO On Bloomberg "BRK Succesor" Video

http://www.youtube.com/watch?v=_UQ5...ed=us&hl=en&q=netjets&feature=player_embedded

Fast forward to 12:20.

 

[F/O]

They are pulling Sokol away from his self-professed area of expertise (energy)--in which he has been front and center for years--to run what is really a sideshow division of BH. Why would they do that? They are doing that because the NJ situation is getting uglier by the day and when that happens you bring in your best fixer.

She talks about how taking over NJ thrusts Sokol into the "successor" spotlight. Why would that be? Once again, not because NJ is a core BH business. It's because if the guy cleans up this mess he's gonna be an instant hero...

 

[gutshotdraw]

Mr. Sokol is the "interim" CEO of Netjets. I expect he'll be back running just the energy company within a year. He's at NJ to wear the black hat and right the ship. Not long-term.

 

[netjetwife]

WB must have figured that an energy expert is a logical choice to make a bloated, sluggish management team more productive...

 

[HazMat]

I always thought NetJets had a great management team. That was stated in post after post when the voluntary measures looked like they did the trick. Now management was bloated and unproductive. What gives.

 

[CA1900]

Management team? More like management army!



"And here's something else, Bob. I have eight different bosses right now."

"I beg your pardon?"

"Eight bosses."

"Eight?"

"Eight, Bob. So that means, when I make a mistake, I have eight different people coming by to tell me about it. That's my only real motivation is not to be hassled."

 

[HazMat]

Is Bob supposed to be me? I dont know who that is. I am just saying that all the posts before this have been about what a great management team you guys had. Now you want to kick them on the way out the door. Besides that the CEO created the business and your job. He was loyal and in the end that loyalty cost him his job. You now have someone who has no loyalty to the company. Hopefully that does not cost you your job.

 

[gutshotdraw]

Management team? More like management army!



"And here's something else, Bob. I have eight different bosses right now."

"I beg your pardon?"

"Eight bosses."

"Eight?"

"Eight, Bob. So that means, when I make a mistake, I have eight different people coming by to tell me about it. That's my only real motivation is not to be hassled."

Hazmat clearly doesn't have the appropriate appreciation of classic american cinema....

Has anyone seen my Swingline stapler?

 

[CA1900]

Is Bob supposed to be me?

Naw, Hazmat, wasn't aimed at you at all. Just my own commentary on our... ummm... "top-heavy" management structure. We have VPs for everything. Maybe this clip from Office Space will put it in context:

http://www.filesend.net/download.php?f=3efef5bee64f90e5fd2cc6c148b369b2


I'm not thrilled at all that Santulli is leaving, but a middle-management restructuring is a good thing, I think. We have so many little fiefdoms in our company that it's hurting us. They're protecting their little worlds at the expense of the company as a whole, and it has to stop.

 

[netjetwife]

Haz, it was a play on words, hence the laughing face. That said, having a good working relationship with a management team doesn't blind one to their faults. NJ folks have long known that there is an overage of VPs at NJA, some with a tendency to unwisely spend a lot of money on their pet projects. While we were glad to see them offer VMs, NJASAP had been reaching out to them for months beforehand. The point of my pun is that there is fat that needs to be cut and management needs to become more proactive.

I disagree that Mr. Sokol has no loyalty to a company owned by BH, which he may be running someday. With ownership comes a vested interest. Certainly, his objective is to make NJ efficient and profitable again, but that is in the best long-term interest of the owners--and the employees.

 

[gunfyter]

Crystal ball ON:

Santulli will be back again after this is all over .... He couldn't be the man to hold the Ax ....

Management structure has little to do with the $1 Billion in lower revenues. That's the economy. Caused by THE BANKS ... the same ones who got bailed out in the TARP program and were totally Insolvent a few months ago ... and are now reaping Record Profits and giving Record Bonuses .... and were invested in by Berkshire Hathaway and account for much of Berkshire's record quarter. If not for the bailout ... BRK would not have had quite the good quarter it did.

Private Jets didn't get bailed out by the government. We didn't do anything wrong... management or labor.
​

Crystal Ball OFF

 

[HazMat]

Njw cut the fat. Easy to say if you are unaffected. I am shocked that now it has turned into a good thing that rs got canned. We will soon learn how loyal your new CEO is. I hope you are right

 

[netjetwife]

Haz, anything that affects the NJ pilotgroup also affects my family.

Recognizing that changes are necessary isn't tantamount to labeling them all as a "good thing". Indeed, some are regrettable-- but not surprising.

 

[glasspilot]

No, anything that affects your husband affects your family.

 

[netjetwife]

Anything that affects the pilotgroup affects my husband which in turn affects our family...satisfied? The end result is the same so my first statement was correct--just shorter.

If you and Haz were NJ pilots you would have understood that; nonetheless, it's quite well known that my husband is an NJASAP volunteer/leader. That is what I alluded to, but I agree, also, with the viewpoint that we're all in this together so I believe that all members of the group are affected (in varying degrees) by what happens to the pilotgroup at large.

 

[RNObased]

Crystal ball ON:

Santulli will be back again after this is all over .... He couldn't be the man to hold the Ax ....

Crystal Ball OFF​

Gun,
You need to send your crystal ball in for repairs, it is picking up the fantasy island channel. RTS won't be back.
​