starcheckdriver
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NJA Struggling?
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Diesel
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Trust me even if NJ had to furlough they wouldn't. Remember this game is as much about appearance as it is about profit. NJ wants to show that they are stronger by not furloughing. Especially if CS hasn't furloughed.
Remember Furloughs show that a company might be weak and the owners who are investors might feel that their investment is not sound.
In the grand scheme of things the pilots are really part of the smallest costs out there unlike the airlines.
Remember Furloughs show that a company might be weak and the owners who are investors might feel that their investment is not sound.
In the grand scheme of things the pilots are really part of the smallest costs out there unlike the airlines.
fischman
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fly4funcrj
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They have asked the magic 8 ball "Magic eight ball, are we saving money?"
Magic 8 ball "yes"
Now a vp of something has just saved his job
So far, furloughs are a figment of someone's imagination. However, I believe if netjets was looking at prolonged (over 8 months-1 year) of decreased flight demand, they probably would furlough. If they feel this could only last for 6 months or less, the cost of retraining and stuff would exceed the savings of furlough.. Just an opinion..
gutshotdraw
ZERT Wilson CQB User
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Diesel is correct (I always hate to admit that :bawling: ). As long as the company isn't bleeding owners (and therefore their monthly management fees), Netjets does just fine when airplanes don't move. Some would tell you it is actually more profitable for the airplanes to sit. That's not exactly true because the company makes most if its money by selling airplanes.
I don't know what our current churn rate is but I do know that we have picked up two Fortune 500 clients in recent weeks as they closed down their flight departments because of depressed stock prices. They don't want to risk complaints from shareholders about the company owning airplanes. They still aren't going back to the airlines but a fractional share or flight card solves lots of PR problems for huge companies.
How much longer do you think it will be before Ford or GM (both?) close their departments down after the PR beating they took last week?
I don't know what our current churn rate is but I do know that we have picked up two Fortune 500 clients in recent weeks as they closed down their flight departments because of depressed stock prices. They don't want to risk complaints from shareholders about the company owning airplanes. They still aren't going back to the airlines but a fractional share or flight card solves lots of PR problems for huge companies.
How much longer do you think it will be before Ford or GM (both?) close their departments down after the PR beating they took last week?
Diesel
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F/O
Smells like....
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Dunno, but this quote from David Axelrod didn't sound too good for them:
"I hope that they will come back to Washington in early December — on commercial flights — with a plan,"
http://news.aol.com/article/obama-intensifies-focus-with-economy-in/257320
brokeflyer
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its just rumor, I spoke to "dad" last week and this came up. If we woulda hired another 300 this year THEN MAYBE a few would have to be let go.
I think that is a big part of the slow down in hiring. Since the demand is so great to work here they know they wont have trouble finding anyone. So its better relax the staffing for growth to prevent a lay-off.
I think that is a big part of the slow down in hiring. Since the demand is so great to work here they know they wont have trouble finding anyone. So its better relax the staffing for growth to prevent a lay-off.
It looks like its a company that trades contracts. It does not necessarily mean the contracts go away. Actually a pretty innovative idea. I don't think you are going to see a drop in existing contracts because of it. Maybe for other reasons, but not because of this company.
Pretty ironic that its run by an Ex-Netjets/EJM employee.
It is amazing to see the Netjets haters
It's impressive to see the Netjets-fractional-haters come out of the woodwork.
Why does someone from Netjets and/or other fractionals always reply to threads like this as if they're obligated to defend their company's financial position on an anonymous internet messageboard?
It's amusing to read the conjecture from anonymous pilots who allegedly "are in the know" about the financial health of our company.
I also now see junior folks I fly with worried about an impending layoff based on rumors.
Wow, imagine what their families, loved ones, must be going through if they bring these venom-based rumors home.
Why generate fear, uncertainty and doubt by reacting to unsubstantiated rumors posted by anonymous messageboard posters?
Why not use our union messageboard for rumor control.
Let the (NJA-frac-haters ) look for their entertainment elsewhere.
PS: this is pretty much true for all businesses:
Paraphrasing uncle Warren:
You have to wait for the tide to go out before you learn who has been swimming naked.
It's impressive to see the Netjets-fractional-haters come out of the woodwork.
Why does someone from Netjets and/or other fractionals always reply to threads like this as if they're obligated to defend their company's financial position on an anonymous internet messageboard?
It's amusing to read the conjecture from anonymous pilots who allegedly "are in the know" about the financial health of our company.
I also now see junior folks I fly with worried about an impending layoff based on rumors.
Wow, imagine what their families, loved ones, must be going through if they bring these venom-based rumors home.
Why generate fear, uncertainty and doubt by reacting to unsubstantiated rumors posted by anonymous messageboard posters?
Why not use our union messageboard for rumor control.
Let the (NJA-frac-haters ) look for their entertainment elsewhere.
PS: this is pretty much true for all businesses:
Paraphrasing uncle Warren:
You have to wait for the tide to go out before you learn who has been swimming naked.
ah.....did not know that.
Trash8Mofo
Kook!
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Because when it comes to furloughs, reacting to FACTS is too late.
There certainly are lots of NJA haters out there; probably due to jealous. Jonjuan for example, seems like he prays that NJA would furlough so it proves how "insightful" he has been.
But the basis for these fears are not rumor. The market has dropped to 12 year low. Which means if your monies had been making a conservative 6% return year after year, you would have been even-steven. If you had put your money in CD or money market and made lower returns, you are now better off stuffing em inside the mattress in the first place. Scary.
NachoMamma
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This is a potentially HUGE source of new revenue for the fractional industry in general. Just another reason that I wouldn't worry about furloughs quite yet.
Excellent post.
AvroJockey
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I'm new at NetJets, and I can tell you that the only time I worry about being furloughed is when I come to FI.
One of things that blew me away was how much money this company throws around. If things got tight there's many places the company could save $$$ before they start furloughs.
Seriously, I would give up my free Patagonia jacket and coffee mug I just got to save a few jobs!
All the fear mongering is what is making our economy worse! Sometimes I wish pessimism was banned.
On another note...Is it too early to crown Favre as the league MVP? That guy is awesome!!!
One of things that blew me away was how much money this company throws around. If things got tight there's many places the company could save $$$ before they start furloughs.
Seriously, I would give up my free Patagonia jacket and coffee mug I just got to save a few jobs!
All the fear mongering is what is making our economy worse! Sometimes I wish pessimism was banned.
On another note...Is it too early to crown Favre as the league MVP? That guy is awesome!!!
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glasspilot
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Giving up a jacket the company already bought doesn't really solve anything does it? Future expenditures are what's required to be reduced to save money.
If I were a NetJet dude I would be thinking about better utilization (read not sitting at an FBO all day but remain on rest at the hotel even if it means I have to answer the phone), and maybe even a few fewer crew meals. Personally it makes me sick when I know the company that's going to pay for my kids college paid $60.00 for something that I could have got INSIDE THE SAME BUILDING for $4.50.
enjoy that 4th crew meal of the day ya'll. What are the odds that career FO's are on property as we speak? My guess is some of 'em may be in the left seat now...
Believe it or not I wish every pilot the best of luck in these very uncertain times.
If I were a NetJet dude I would be thinking about better utilization (read not sitting at an FBO all day but remain on rest at the hotel even if it means I have to answer the phone), and maybe even a few fewer crew meals. Personally it makes me sick when I know the company that's going to pay for my kids college paid $60.00 for something that I could have got INSIDE THE SAME BUILDING for $4.50.
enjoy that 4th crew meal of the day ya'll. What are the odds that career FO's are on property as we speak? My guess is some of 'em may be in the left seat now...
This is an example of a misinformed individual, who clearly knows not what he's talking about.
I don't think you're generally interested in our well being or I'd explain to you why we can't sit on rest at the hotel and answer the phone if called.
Great, giving "advice" when you have no clue what you're talking about.
Thanks for your concern
enjoy that 4th crew meal of the day ya'll. What are the odds that career FO's are on property as we speak? My guess is some of 'em may be in the left seat now...
This is an example of a misinformed individual, who clearly knows not what he's talking about.
I don't think you're generally interested in our well being or I'd explain to you why we can't sit on rest at the hotel and answer the phone if called.
Great, giving "advice" when you have no clue what you're talking about.
Thanks for your concern
Probable NJA hater: Starcheck must be proud of his thread title, this is so transparent its amusing!
He applied, didn't get hired on his timetable, so he "asks if there is any truth to furloughs around the corner!
Registered User
Join Date: May 2004
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Civ/Mil: Civilian
A/C Flown: LR35, LR60, Multiple pistons
Ratings: ATP - LR60 Type
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Posts: 293
I actually did apply 8 days ago. A friend of mine physically walked my application into the Recruiting Office in Columbus. I also had a couple of internal rec. letters from cuurent NJA employees.
No, I never received an app. accepted or received e-mail. The first e-mail I received was to setup the phone interview.
and then goes on to say,starcheckdriver vbmenu_register("postmenu_1709297", true);
Registered User
Join Date: May 2004
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Civ/Mil: Civilian
A/C Flown: LR35, LR60, Multiple pistons
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Total Time: Enough
Posts: 293
I just wish NJA would let the people waiting know something....either reject them or give them a conditional offer pending a class date and completion of training. So many haven't heard either way and have been waiting for 6 months or so.
There are many who want nothing more than to work at NJA, but may be unemployed and seeking other options. It would be hard to accept employment elsewhere while waiting for NJA to call. You wouldn't want to accept employment, sign a contract or agreement, and then have NJA call with a class offer.
Because of this, I think NJA should either make a rejection or give a conditional offer. After one interviews in CMH, they must know whether they will hire that person or not. That said, maybe no news after 4-6 months is good news? Who knows?!
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captain007
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Thanks for your post!
AvroJockey
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Em...Future expenses are what I'm talking about...The jacket is not a onetime thing. NetJets sends gifts to employees several times a year. I forgot most companies don't do that. If the gifts stop coming then I know they're starting to trim the fat.
Is this meant to be sarcastic? You're just proving my point...there are many other ways that NetJets can save money before they start furloughing. I'm sure they'll exhaust all options before layoffs...that's just how they roll.
After a statement like that, I don't believe you.
learflyer
Time to drill Congress!
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That's an easy one. There not spending ten's of thousands of dollars on interview candidates anymore.
BoilerUP
Citation style...
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Pretty sure the guy got the axe from Aspen Jetride a few weeks back, and is just curious if MORE pilots are going to be unemployed or not, in addition to his hopes of working there.
Good God people, he asked a question...not a leading question, not an accusatory question, but but just a simple question to confirm or deny a rumor. He strongly got multiple denials. Question answered.
I realize there are plenty of NJA haters out there (I'm NOT one of them) but some of you need to be a little less spring-loaded to blast anyone who has questions about your company...
Hawker dude
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dude. you're a dumbas*
guess what? we do have career FO's. they can make up to 70K their first year and over six figures after a few years.
the reason we sit at hotels and FBO's is because we aren't hiring outside contractors, like your dumba*s
I respectfully disagree with you, I take issue with the thread title.
There are lots of new hire frac folks out there that have a lot riding on these companies.
Its cruel, cowardly, and unprofessional to propagate these unsubstantiated rumors.
BTW, its all fractional haters, not just NJA.
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theskyking
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gunfyter
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Well, at least you are not bitter.
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