I have talked to a few ex-owners (they recognized my uniform while i was airlining) and one specifically mentioned that they sold because of Madoff.Bernie Madoff is to blame...I'm sure he took more than a few of the owners.
500 out of 3000? That seems like quite a bit in one swat! Seems like the economy has been bad enough for long enough that it wouldn't make sense to go that deep, but of course, I don't see the books....NetJets is furloughing 495 pilots effective January 16th. No one is safe anymore in this industry. Good luck to everyone.
Once the ATP rule passes thru congress regarding Part 121, and the age 65er's get out of dodge, there should be a dramatic industry turn around. No one is in flight school anymore, old timers forced to retire, unfortunately it's not soon enough.Just goes to show that no matter who you work for, nobody is safe in this ********************ty industry.
Warren Buffett is ultimately at the wheel...I would imagine he understands that the economy is almost certainly going to get worse before it gets better.500 out of 3000? That seems like quite a bit in one swat! Seems like the economy has been bad enough for long enough that it wouldn't make sense to go that deep, but of course, I don't see the books....
Not according to the Obama Administration. Spend, spend, spend, spend, spend our way out of recession....insanity!!!!Its about to get much worse................