NJ Recalls

[BentOver]

G4, consider record profits these last two years with net loss in sales. Consider the huge debt we had that is close to going away, which will only mean higher profit margines. Consider how much more profit will exist when sales do rebound, and they will. In spite of what our competitors charge and what their pilots are paid. I base my expectations upon what my company can afford, not theirs.

We are the reason for this profit, not the VP of coffee cups or director of door knobs, and I want a piece of the pie. We can afford significant increases now while times are tough. Do you think for a moment they will offer us a bigger piece when times do improve and we're locked into a status quo contract? You overestimate their benevolence and accept mediocrity while they increase their own wealth, at our expense.

NJA posting profits is most certainly a good thing. BHK has reason to keep NJA around (which a few short years ago was an uncertainty) Unfortunately I feel NJA finds itself doing better with less overhead (planes and pilots).... While NJA is financially successful, the unfortunate title of the thread is what is more of a concrn to those remaining furloughees and SIC's who are stuck at $85K for a decade or longer. The promise of that 3-4 year upgrade and $150K quickly vanished.

NJA is a great career if you were lucky enough to get hired 8+ years ago. If you were hired one class late your career earning are half of the guy a few numbers senior to you. Atleast with athe airlines you know that through attrition you will most likely upgrade at some point. Especially from now going forward.

 

[pilotyip]

who are stuck at $85K

Yes being stuck at the upper 7% of all U.S, wage earners is something that needs to be fixed. The best way to get an employers attention that the wages are too low is by quitting and taking another job. Everyone of the laid off NJ guys at our place would jump at a career F/O slot at $85K in a heartbeat.

 

[jetlag7]

Yes being stuck at the upper 7% of all U.S, wage earners is something that needs to be fixed. The best way to get an employers attention that the wages are too low is by quitting and taking another job. Everyone of the laid off NJ guys at our place would jump at a career F/O slot at $85K in a heartbeat.

I'm sure they would accept the job, but considering the level of training, experience and qualifications FO's at NJ posess (especially those who have been furloughed) I doubt none one of them would consider $85K a CAREER -- certainly not at a company as profitable as NJ with Executive compensation well into the realm of the "obscene."

 

[brokeflyer]

Fair enough, but my point is we might want to keep our compensation where it is, not try to get more, because our competitors pay a lot less, making them tough competition.

why is management taking 20%+ pay raises and 7 figure bonuses every year?

that alone right there is more than 8 times the pilot salary for the entire company.

the comapny can easily afford to pay $50,000/yr to each pilot and still come out ahead.

 

[gret]

..."certainly not at a company as profitable as NJ with Executive compensation well into the realm of the "obscene."...

Has anyone seen a "profit" number for NetJets in 18 months? The quarterly reports breaking it out have ceased due to some "bad things" awhile ago. It seems when things are good, they give figures and when not so good, they clam up.

Can anyone quantify the compensation level of Netjet executives? "Obscene" and other adjectives that have been used do not add much color.

Not arguing with anybody, but it would be nice to see the facts...rather than hearing perceptions.

 

[pilotyip]

I doubt none one of them would consider $85K a CAREER --

When you are in your late 50's or 60's and see JUS as a possible place to end your career at age 65, or a NJ career F/O into your 70's. NJ career F/O is a dream job. It is all in perspective.

 

[jetlag7]

..."certainly not at a company as profitable as NJ with Executive compensation well into the realm of the "obscene."...

Has anyone seen a "profit" number for NetJets in 18 months?

Yes

Can anyone quantify the compensation level of Netjet executives?

Not without violating company policy regarding "social media."

Every employee has access to this information.... It's not difficult to find....

 

[G4dude]

So what are our executives at NJA paid? I see it referred to on this board from time to time, but nobody says how much they are paid. The more ardent union pilots seem to feel it is important.

 

[Pervis]

So what are our executives at NJA paid? I see it referred to on this board from time to time, but nobody says how much they are paid. The more ardent union pilots seem to feel it is important.

Spoke with a senior exec after the purge. Over $30 million cut from the top ten execs. They remained for the most part. Another laughed at the cost of the adaptors for the big Fiji bottles. Over $275000 blown on the square peg and round hole debacle. Be a faithful soldier, but don't be a fool. They count on the latter.

 

[gret]

Yes



Not without violating company policy regarding "social media."

Every employee has access to this information.... It's not difficult to find....

OK...too bad they are keeping all the good news from the shareholders regarding the earnings.

That doggone Mr. Buffett is known for paying management too much...wish he would stop it.