Warren Buffet report on Netjets

[btodd77]

B19,
What you have just said is simply more proof that the union can help or hurt the company. If we're all moving in the same direction(and that is the way we're headed) then things work very well. I'm not saying that we're all sitting around a camp fire singing kumbuyah, but things are definitely moving in the right direction.

 

[theskyking]

Only 2 years ago, he stated:

"Mr. Santulli, the chairman and chief executive of NetJets, who agreed to telephone interviews, had a more colorful observation of his company's problems in 2005 — induced, he said, by haggling over a new pilots' contract, increasing and budget-busting demands on its domestic fleet, and a number of continuing problems in its efforts to build a European presence:
"It was horrible, horrible," Mr. Santulli said. "I was embarrassed."

And as soon as there is a shift in the economics and the union doesn't work with him, he will echo these words once again.

So, he was embarrassed that he let the company degenerate into that state. I can understand his embarrassment. I think he soon got over it when he discovered what a group of motivated pilots and a charismatic, powerful leader (RTS) can accomplish. Now look at us as we move forward together to a much more prosperous future for everyone concerned.

Just another example of B19 taking an isolated sound bite from a larger piece and twisting it to meet an agenda. Just to set the record straight, this article came out in June of '06 and here is the whole quote from RTS:

Mr. Santulli, the chairman and chief executive of NetJets, who agreed to telephone interviews, had a more colorful observation of his company's problems in 2005 — induced, he said, by haggling over a new pilots' contract, increasing and budget-busting demands on its domestic fleet, and a number of continuing problems in its efforts to build a European presence: "It was horrible, horrible," Mr. Santulli said. "I was embarrassed."
Still, ever the optimist, he also said he saw clearer skies ahead. "We will have an excellent year and we will make money this year," he said. "We have the critical mass we need."


Correct me if I'm wrong, but NJ had a pretty good year in '06. Oh, yea, in '07 too.

C'mon B19, you have to do better than that.

 

[CALRepublic]

when will we find out the 2007 earnings for netjets?

AH, the ignorant coment, I knew there was something missing from this thread.....

 

[HiSpeedFlyer]

Having recently retired from the military, I've always wondered why some in the aviation industry believe that in order for unions to be successful, it always has to be at the expense of the company. Granted the airline industry doesn't have the greatest track record, but I put SWA and NJA as two examples of how union and management have come together to create a successful organization.[/quote

]



Need anyone say more??



B19, have you not heard this said before, or are you simply refusing to realize this is not your papa's management/labor relationship?

SIGH!!!!!!

 

[notaNJApilot]

AH, the ignorant coment, I knew there was something missing from this thread.....

what's wrong with asking a question that's relevant to this thread?

actually, according to this, netjets made 278M, and flight safety made 269M, for a total of 547M. http://boards.fool.com/Message.asp?mid=26432612&sort=postdate

 

[FLYLOW22]

Only 2 years ago, he stated:

"Mr. Santulli, the chairman and chief executive of NetJets, who agreed to telephone interviews, had a more colorful observation of his company's problems in 2005 — induced, he said, by haggling over a new pilots' contract, increasing and budget-busting demands on its domestic fleet, and a number of continuing problems in its efforts to build a European presence:
"It was horrible, horrible," Mr. Santulli said. "I was embarrassed."

And as soon as there is a shift in the economics and the union doesn't work with him, he will echo these words once again.

Yes. He said that 3 years ago. Much has changed in 3 years including paradigm shift in labor/management interaction, collaboration and interaction.

As I've said many times, what we accomplished here at NetJets by working together has never been done in aviation and rarely in Corporate America.

Don't hate the player. Hate the game B19.

 

[hammer2]

Glad things are going good for you guys at net jets.

 

[netjetwife]

Thanks, H2! With the pay raise announcement at CS hopefully that means that the practice of underpaying pilots will be given the boot at other frac companies, too.

CALR, I just can't resist pointing out that you might consider using spell-checker next time you mention ignorance ..hint, hint.
Note that comment has two "m"s...

 

[G4dude]

The reason NetJets is now profitable is that finally the NJA pilots are behaving like professional pilots instead of like professional union thugs. I am very happy about this, but for the union pilots to congratulate themselves for not misbehaving is disengenuous to say the least. In my opinion.

 

[1folinepilot]

The reason NetJets is now profitable is that finally the NJA pilots are behaving like professional pilots instead of like professional union thugs. I am very happy about this, but for the union pilots to congratulate themselves for not misbehaving is disengenuous to say the least. In my opinion.

G4dude, You obviously have it all backwards as the NJA pilots were only acting as Management was treating them, so once Management decided to treat and respect the pilots like the true professionals they are, the pilots proudly returned the favor.