Sokol Violated Berkshire Ethics

[CA1900]

Yeah ... when a Plumber shows up at your apartment complex ... why do you think the Complex Management called them?

... only to find said plumber has been selling off all the copper pipes, and that's why nothing's working! :laugh:

 

[OPECJet]

Dichter will be running the show within 6 months. Might be a good thing, but then again Marquis wasn't sitting too pretty when they were absorbed. He's not our buddy either.

Bring back the Italian guy......

 

[gunfyter]

Bring back the Italian guy......

Thats what I have been saying...

 

[BuckMurdock1]

Found a clip of Sokol's resignation announcement...and his successor in attendance.

http://www.youtube.com/watch?v=CV_hDyfmEw4

 

[mosyslack]

Bring back the Italian guy......

You mean the Italian guy that didn't recognize and stop the downward trend of business which resulted in a $711M loss?

He's part of the reason several of us are out on the street. Don't get me wrong, I did enjoy working under him, but it was his time to go. Sokol's was months prior to his actual exit. Hansel...well, hopefully we get someone that's actually interested in the growth of NJA and not following the previous guy's business plan.

 

[rajflyboy]

You mean the Italian guy that didn't recognize and stop the downward trend of business which resulted in a $711M loss?

He's part of the reason several of us are out on the street. Don't get me wrong, I did enjoy working under him, but it was his time to go. Sokol's was months prior to his actual exit. Hansel...well, hopefully we get someone that's actually interested in the growth of NJA and not following the previous guy's business plan.

Dude

Get F ing real.

After recent events I don't think we really know the truth on the Financial Status of the Company. Was this new management also fibbing on how bad things were? or was it fact?

We as pilots will probably never know. If we bring back RTS it will be a step in the right direction. He is the king of Sales. We need that expertise right now.

 

[gunfyter]

I am willing to bet, nothing like $711 Million was lost... in actual "In God We Trust" money.... And then a $205 M profit in 2010. It must be that "new math" I've heard tell of.

Options and Citation Air recalling all their furloughs while NJ is threatening to furlough more ... I wonder where they are getting their new Owners from?

THE ITALIAN would not let that happen. We would be recalling right now.

 

[G4dude]

I am willing to bet, nothing like $711 Million was lost... in actual "In God We Trust" money.... And then a $205 M profit in 2010. It must be that "new math" I've heard tell of.

Options and Citation Air recalling all their furloughs while NJ is threatening to furlough more ... I wonder where they are getting their new Owners from?

THE ITALIAN would not let that happen. We would be recalling right now.

The Italian surely loved NetJets, no question. I suspect the reason why NJA is not recalling pilots like CA and FLOPS is because the other companies furloughed all their excess crews while NJA kept some extra guys and gals.

 

[gunfyter]

Possible G4. But I believe more owners who left during the financial crisis would be returning to NJ during this recovery ... if The Italian were still here.


Executive Lessons Learned | View Lesson – Riding Out A Recession ...



Big Deals Need Personal Involvement And A Time Limit
Brands Are Built On Integrity And Attention To Detail
Case Study: The Birth Of NetJets
Maintaining Customer Service When You Scale
Prove To Your Customers That You Care

 

[imacdog]

You mean the Italian guy that didn't recognize and stop the downward trend of business which resulted in a $711M loss?

That loss could easily have been cooked by Sokol through aircraft write-downs and other methods that could have been less than ethical (now that the world knows Sokol's an unethical creep, it wouldn't surprise me). Also remember that before the big loss, NetJets was turning a profit with RTS at the helm.

 

[gunfyter]

Run on the bank.

Not to minimize the loss. But look at Goldman Sachs ... they should have had their doors nailed shut but were bailed out in part by Berkshire. Now look at their profits!

So a lot of people and businesses lost money because of the financial crisis.

It kind of reminds me of the movie, Its a Wonderful Life.

NetJets is like the Building and Loan. Santulli is like Jimmy Stewart (A founder of Executive Jet). A run on the bank. People line up to cash out their assets (fractional shares). Now we all live in Potterville (Sokolville).

But in the movie Jimmy Stewart comes back to run the bank! Will Santulli?

 

[OPECJet]

All these guys have it right. Someone was at the core of a huge sham that sent Santulli to the street, most likely as part of a larger power play to get Buffett's chair. I'm just a stupid pilot, but I don't see any way possible that Sokol could have orchestrated the monetary turn around at NJA without some seriously creative accounting. I'll also put a steak dinner on it that Santulli was spending money like a drunk in a liquor store because he could. Without BH credit he'd have been tighter than a clam. We'd probably have been furloughed in the end, but we'd have a company to come back to, and you guys still on the property would have better security. As it stands now, Sokol blew a huge hole in the hull that isn't getting patched anytime soon.

The only positive side is that Sokol has such a mark on him to the point that few if any serious future positions will be open to him. IF the Feds really go after him, maybe he'll be taking our orders at the Omaha McDonalds after he gets out of the pokey. One can dream anyway....

 

[ProFracPilot]

Fun fact: FlOps was going in the tank until "their" Italian regained control.

 

[gret]

NJA lost money in the 1st qtr...

 

[LAZYB]

NJA lost money in the 1st qtr...

Partially Voodoo economics...