Warren fesses up....

[B25Bomber]

Buffett Says NetJets ’Dipped Far into the Red’
Berkshire Hathaway chairman Warren Buffett, in his latest annual letter to shareholders issued Saturday, said the company’s flight services division–FlightSafety and NetJets–reported $120 million in pre-tax earnings versus $191 million in 2004. According to Buffett, “Earnings improved at FlightSafety as corporate aviation continued its rebound…[but] operating results at NetJets were a different story. I said last year that [NetJets] would earn money in 2005–and I was dead wrong. Our European operation…showed both excellent growth and a reduced loss…however, our U.S. operation dipped far into the red.” Buffett also addressed management succession at Berkshire: “We have three managers at Berkshire who are reasonably young and fully capable of being CEO. Berkshire’s board has fully discussed each of the three CEO candidates and has unanimously agreed on…who should succeed me if a replacement were needed today.” An October 2000 Wall Street Journal article identified NetJets chairman and CEO Richard Santulli as being one of the three CEO candidates.

'nuff said.....

 

[gunfyter]

Meanwhile NJ orders more planes... fills FSI classes beyond capacity with new hires.

And gives Raises to non bargaining pilots

 

[Wyatt]

Do you really think Buffett would be talking out loud about losing money unless there was a reason behind it? Its probably some kinda spin/maneuver of some sort...

 

[gunfyter]

He has to address it to shareholders. He can't say nothing.

I personally think the losses are largely due to an expensive attempt to crush the Union.

 

[RTRHD]

It was nice meeting you in HPN gunfyter.

 

[gunfyter]

Hey thanks... Hope to see you again.

You can testify I am not as big an ass in real life than as seen via electrons

 

[RTRHD]

Me too. See ya around.

 

[gutshotdraw]

And gives Raises to non bargaining pilots

Because if he hadn't, there was a good chance they would've become bargaining pilots. And he doesn't want them to be bargaining pilots.

Machiavellian, perhaps. But smart.

 

[gunfyter]

Because if he hadn't, there was a good chance they would've become bargaining pilots. And he doesn't want them to be bargaining pilots.

Machiavellian, perhaps. But smart.

I think you are correct.

 

[ArtVandalay]

Expect netjets to ask for paycuts from the pilots in the near future???