NY Times Article on NetJets

[HazMat]

I am saying that the Netjets of old is gone. Where owners were treated to exclusive concerts and gifts that others couldn't compete with. It was part of the netjet ownership experience. My point was without those exclusive perks it will just make it even more competitive

 

[jppt2000]

I am saying that the Netjets of old is gone. Where owners were treated to exclusive concerts and gifts that others couldn't compete with. It was part of the netjet ownership experience. My point was without those exclusive perks it will just make it even more competitive

You call a sweater and a poker game a perk?
In the 9 years I've been here, IMHO, this company always had a problem with defining how much was much in ANYTHING it did.
Finally, we have some leadership, both (union and company) that have personally witnessed, and lived through ExecutiveJet-Netjet's gilded age.
The period of time where we as a company, figuratively put out fires with $100 bills.
I have much faith this company will change course for the better.

 

[NJAowner]

Owner "Perks"

The owner "perks" were relatively very small potatoes. Yes it is cost savings, yes we could all buy these ourselves, but a nice leather passport holder, tie or scarf wen I spend over $500k per year in monthly and hourly fees is a nice way to say "thanks". While we do not participate in most of the owner functions, there are a few which appeal to my kids and have been wonderful -- like a day in Columbus at FSI in the simulator and learning how planes fly, an evening with Cesar Milan (the Dog Whisperer), hitting tennis balls back to Roger Federer, being treated regally at the circus. These items go a very long way to keep owners more than happy (yes, over the top, but bringing it to a new level). Believe it or not, these are event that many owners could afford, but won't directly spend the extra $$ for. Some events, like Federer, are irreplaceable and can make the difference in attracting and keeping some owners. When your average client/owner spends in excess of $500k per year with a company (I think the NY times article is wrong at $250k since that tis the average cost per year of 50 hours in the Ultra), spending a few $$ on owners is not an excess. Next step, limiting us to 2 bottles of water and 1 box of jelly beans per person per flight?

Fly safe.

 

[OPECJet]

Next step, limiting us to 2 bottles of water and 1 box of jelly beans per person per flight?

Fly safe.

Won't happen if I'm flying your plane. Then again you'll have to wait a while for that to happen.:erm:

 

[glasspilot]

The owner "perks" were relatively very small potatoes. Yes it is cost savings, yes we could all buy these ourselves, but a nice leather passport holder, tie or scarf wen I spend over $500k per year in monthly and hourly fees is a nice way to say "thanks". While we do not participate in most of the owner functions, there are a few which appeal to my kids and have been wonderful -- like a day in Columbus at FSI in the simulator and learning how planes fly, an evening with Cesar Milan (the Dog Whisperer), hitting tennis balls back to Roger Federer, being treated regally at the circus. These items go a very long way to keep owners more than happy (yes, over the top, but bringing it to a new level). Believe it or not, these are event that many owners could afford, but won't directly spend the extra $$ for. Some events, like Federer, are irreplaceable and can make the difference in attracting and keeping some owners. When your average client/owner spends in excess of $500k per year with a company (I think the NY times article is wrong at $250k since that tis the average cost per year of 50 hours in the Ultra), spending a few $$ on owners is not an excess. Next step, limiting us to 2 bottles of water and 1 box of jelly beans per person per flight?

Fly safe.

The problem with you spending 500K a year and expecting perks on top is the core product is costing 750K a year to provide...sans perks.

It's funny how everyone at NetJets expects perks. The owners, management, the pilots...everyone. And everyone wraps it up and justifies it with, "it's small potatoes".

I would suggest bringing back "perks" when profitability from operations is a reality. If your business model depends on appreciation of aircraft to stay in the black then you are no different than the sub-prime lending that got us in the mess we're all in now.

PROFITABILITY FROM OPERATIONS...look into it.

 

[barnyard]

NJAOwner, just to be clear...

The previous poster, GlassPilot works for a competing fractional (Avantair) and is not a NetJets Pilot.

I am glad you enjoyed some of the extra perks NJ has provided to you over the years, hopefully you will continue to enjoy some of them.

Barnyard

 

[avantairowner]

As a former NetJet owner I have to confess I really enjoyed the "perks". I participated in the poker tournament and some of the other events. Trust me there will be backlash over canceling this event. My kids loved the concerts. When I switched to Avantair my kids were upset because we knew those opportunities were gone. The Netjet owner will not be happy because they are the loser in this. They pay the bills and there are certain expectations. The "perks" were part of those expectations. It does bring the competition closer because it is an added benefit that is gone. Cost cutting always hurts but the rule is never bite the hand that feeds you. Many executives entering a customer service industry learn this the hard way.

 

[SDCFI]

A wise man once told me people get infinitely more upset when you take something away than if you had never given it to them in the first place.

 

[o2bflyn]

The owner "perks" were relatively very small potatoes. Yes it is cost savings, yes we could all buy these ourselves, but a nice leather passport holder, tie or scarf wen I spend over $500k per year in monthly and hourly fees is a nice way to say "thanks". While we do not participate in most of the owner functions, there are a few which appeal to my kids and have been wonderful -- like a day in Columbus at FSI in the simulator and learning how planes fly, an evening with Cesar Milan (the Dog Whisperer), hitting tennis balls back to Roger Federer, being treated regally at the circus. These items go a very long way to keep owners more than happy (yes, over the top, but bringing it to a new level). Believe it or not, these are event that many owners could afford, but won't directly spend the extra $$ for. Some events, like Federer, are irreplaceable and can make the difference in attracting and keeping some owners. When your average client/owner spends in excess of $500k per year with a company (I think the NY times article is wrong at $250k since that tis the average cost per year of 50 hours in the Ultra), spending a few $$ on owners is not an excess. Next step, limiting us to 2 bottles of water and 1 box of jelly beans per person per flight?

Fly safe.

With all due respect, and please do not take this the wrong way.

Do you fly with Netjets because you can hit balls with Federer? No, you fly with Netjets because they are the best at what they do. Would you buy a car from Mercedes just because they offered you a free umbrella?

My point is there are many ways to thank owners for their business, and one of them is running a profitable business so you can achieve a large return on your investment. All of the activities cost netjets a ton of money in appearance fees and other expenses. When Netjets is back to profitability maybe they will return, but for now the money is needed elsewhere.

*important note: I do not fly for Netjets nor am I an employee of Netjets. I am in no way speaking on their behalf."

 

[gutshotdraw]

A wise man once told me people get infinitely more upset when you take something away than if you had never given it to them in the first place.

Absolutely true statement and the founding and over-riding principle of certain elements of our present government.

Oops, sorry to get political again.