Strike Vote Called For at NetJets

[semperfido]

He is right - its has to be approved by your "sup" and related to your job.

.

many placed that can be loosely interpreted.

 

[jpilot]

Please....this is why NJA pilots are holding out for ALOT more money



<<NetJets and FlightSafety report profits for 2004
by Chad Trautvetter (AIN)

In his annual letter to shareholders published early last month, investment mogul Warren Buffett said earnings improved last year at Berkshire Hathaway’s flight services division, which includes FlightSafety International (FSI) and NetJets. Last year the unit saw its pre-tax profits rise to $191 million on revenues of $3.24 billion, up substantially from the previous year’s $72 million profit on revenues of $2.43 billion.

The letter attributed more than 90 percent of the $810 million year-over-year revenue increase at Berkshire’s flight service division to NetJets. The fractional provider’s flight operations revenue rose by nearly $400 million and revenues from aircraft sales jumped about $360 million. According to Berkshire Hathaway’s annual report, the increase in flight operations revenue was due primarily to higher usage, a larger percentage of hours being on larger aircraft and a slight rate increase. Fractional aircraft share sales climbed due to an approximately 10-percent increase in aircraft sold and a higher percentage of sales being more expensive large-cabin business jets.

Noted Buffett, “Last year NetJets again gained about 70 percent of the net new business (measured by dollar value) going to the four companies [NetJets, Flight Options, Flexjet and CitationShares] that dominate the [fractional aircraft] industry.” Buffett attributed a portion of NetJets’ growth to the 25-hour card offered by Marquis Jet Partners, an independent company that buys shares in NetJets aircraft and resells them in blocks of time.

It appears the fractional provider made an overall, if slim, profit last year: “NetJets earned a modest amount in the U.S. last year. But what we earned domestically was largely offset by losses in Europe.” It’s possible that the investment mogul tempered his statement on NetJets’ profitability given that the company’s management and 2,100 pilots are still in contract negotiations, with pay being one of the main sticking points (AIN, February 2005, page 10).

NetJets’ U.S. contracts, including Marquis customers, grew from 3,877 to 4,967 last year. This compares with approximately 1,200 contracts when Berkshire Hathaway bought NetJets in 1998.

In Europe, contracts increased from 364 to 693. Last year, U.S. owners made 2,003 flights in Europe, up 22 percent from the previous year. NetJets Europe owners made 1,067 flights in the U.S., up 65 percent from 2003.>>

 

[I-R-DXR]

Good post jpilot.

The question still is if NJ can afford to "double" the salary of 2000+ pilots.

shell game or not its ruff when no one knows just how the company is doing for real.

I mean honestly NJ can say they are making money hand over fist - What would the owners say?

30k X 2000 = 60,000,000

to

60k x 2000 = 120,000,00

I know very "off" and simple math here but I did it just get get a point across - If your are asking for double can the company afford that kind of hit?

If you are not 100% absolutely sure they can - you are killing the company.

been there done that - not fun
.

 

[I-R-DXR]

many placed that can be loosely interpreted.

True sir but it has to get approved by both your "sup" and the HR department.

honestly it isnt easy to get it thru the HR dept.

.

 

[Diesel]

Who really gives a crap. I fly the planes I don't run the business. If i did I would have never sold off the core planes. Greeeeat move BB.

Either this place is a ponzi scheme or not. If it is then it's best not to waste everyones time here.

Need to pay the pilots more raise the rates. Once again not my problem.

I'll say it again the latest proposal was an insult that showed the company does not take us seriously. Work will not set you free.

 

[DO-82 driver]

Man!!!! I wish I was headed to Baker Pond...Maybe even a fire patrol or 2. Even a check run to BOS. At least I trusted all THOSE people I worked for and was treat very well..

 

[Diesel]

Yeah not a day goes by..... Of course I hated baker pond. You could never tell how shallow the far end was and the hill towards king and bartlett never made the takeoff easy.

I'll take dinner at the white wolf and a run down mainstreet in the 180 anyday.

Treated like a human and a family member. Worlds and worlds different from this place.

 

[netjetwife]

The REAL question is--why do you insist on distortion?

Good post jpilot.

The question still is if NJ can afford to "double" the salary of 2000+ pilots.

shell game or not its ruff when no one knows just how the company is doing for real.

I mean honestly NJ can say they are making money hand over fist - What would the owners say?

30k X 2000 = 60,000,000

to

60k x 2000 = 120,000,00

I know very "off" and simple math here but I did it just get get a point across - If your are asking for double can the company afford that kind of hit?

If you are not 100% absolutely sure they can - you are killing the company.

been there done that - not fun
.

You are completely wrong in your continued assertion that the pilots are asking to have ALL salaries doubled. That is not the case at all. Some would be, but others would not. The research team that has worked on the pay scale is made up of talented people who have experiences outside of aviation that they have drawn from to assist SU. I submit that they have a far greater knowledge of the situation than you do, and are fighting to make this a career job for the pilots. At the basic foundation of that goal is the recognition that the company must remain viable.

It is understandable that you have concerns about the future--many do. That does not make it right for you to needlessly add to those worries by misrepresenting the facts of the case.

 

[netjetwife]

About those numbers---

...... I think the company is definately holding out on you, but they are never going to give the numbers netjetwife is throwing around. I would think the percentages of the high might be a good starting point.......

Please be clear about what I posted. I quoted the exact numbers used in the graph on the back of SU's handout. Those numbers represent the goals of the union. I may agree with them, but let's not give people the false impression that I am personally "throwing" numbers around. The category to use--high, average, low---was chosen with a lot of thought, I'm sure. It does reflect the clientèle flown and the level of service provided.

 

[YGBSM]

Please be clear about what I posted. I quoted the exact numbers used in the graph on the back of SU's handout. Those numbers represent the goals of the union. I may agree with them, but let's not give people the false impression that I am personally "throwing" numbers around. The category to use--high, average, low---was chosen with a lot of thought, I'm sure. It does reflect the clientèle flown and the level of service provided.

Just curious - is your husband excited about your level of involvement in his job?