NetJets and Market crash
#1
NetJets and Market crash
Unfortunately the market tumble may be just the excuse Hansell needs to finally furlough the 300 he's been threatening for so long. Either that, or he goes to the union and says "Columbus...we gotta problem".
NJA customers will start to scale back on the use of their shares....not only to wait and see what happens with the economy, but also to not draw attention to company finances during this next "recession" thats starting all over again.
Im getting sick and tired of this BS financial mess. My heart goes out to the bottom pilots at NJA....Id be sweating it right now. Feels like 2009 all over again. Good luck NJA brothers and sisters.
NJA customers will start to scale back on the use of their shares....not only to wait and see what happens with the economy, but also to not draw attention to company finances during this next "recession" thats starting all over again.
Im getting sick and tired of this BS financial mess. My heart goes out to the bottom pilots at NJA....Id be sweating it right now. Feels like 2009 all over again. Good luck NJA brothers and sisters.
#3
Banned
Joined APC: Oct 2010
Posts: 1,222
Based on company info from NJA. Flying has remained fairly constant since early Spring... every Friday we get a pseudo update so this coming Fridays flight loads should be a telling story....If it's way down I'd be very worried..... The talking heads seem to think this may be a sell-off due to fear and if so a rebound of some sorts could be expected (and very welcome!)
#4
Line Holder
Joined APC: May 2008
Posts: 54
Definitly a precarious situation but the story isn't written yet. I don't think Hansell needs an excuse and what will be will be based on actual business conditions. The ability of management to gain market share via effective business development is another story. As far as the market is concerned, so far there isn't the credit/liquidity crisis that was taking place back in 09' that led to so many contract terminations. Also, I would assume many of the "weaker" owners who were shaken out during that downturn are still on the sidelines. In other words, hopefully we have a more stable client base these days.
As one of the very bottom at NJA, this last weeks events have certainly not helped my morale. But then again, I've been in the trenches for two years now (10 if you count the fact that nothing has improved for me since 9/11) and I'm getting fairly numb to the barrage of uncertainty that has been placed on my livlihood. That being said, I hope after 5 years as a dedicated employee I wouldn't be cast out by way of an excuse. I do know how naive that sounds though. And, unfortunately, I don't have any confidence that the pilot group would stand together and say voluntarily remove themselves from the 18-day schedule in an effort to save some jobs and convey unity in the run up to negotiations. After all, the Union Reps are on the 18-day. But I could be wrong and hope I am if it comes to it.
As one of the very bottom at NJA, this last weeks events have certainly not helped my morale. But then again, I've been in the trenches for two years now (10 if you count the fact that nothing has improved for me since 9/11) and I'm getting fairly numb to the barrage of uncertainty that has been placed on my livlihood. That being said, I hope after 5 years as a dedicated employee I wouldn't be cast out by way of an excuse. I do know how naive that sounds though. And, unfortunately, I don't have any confidence that the pilot group would stand together and say voluntarily remove themselves from the 18-day schedule in an effort to save some jobs and convey unity in the run up to negotiations. After all, the Union Reps are on the 18-day. But I could be wrong and hope I am if it comes to it.
#5
"... unfortunately, I don't have any confidence that the pilot group would stand together and say voluntarily remove themselves from the 18-day schedule in an effort to save some jobs ..."
DWS, I guarantee that wouldnt happen. The union guys are so hipocritcal it makes me laugh. The big union reps on the board will lie to you, and then 1 month later they will deny ever telling you that lie. I have lost all faith in NJASAP, and if I didnt know better and were quicker to draw unsubstantiated conclusions, Id be positive they were just some goats being herded by the top brass.
In their minds, being on the 18 day doesnt effect how many are furloughed or brought back. 95% of the pilots will not drop the 18 day even if it means saving you your job and house and family. They are too concerned with trying to be 18 again and buying that 75K corvette and the snowmobile for Aspen overnites.
Yeah, Im a little angry 2 years later.
DWS, I guarantee that wouldnt happen. The union guys are so hipocritcal it makes me laugh. The big union reps on the board will lie to you, and then 1 month later they will deny ever telling you that lie. I have lost all faith in NJASAP, and if I didnt know better and were quicker to draw unsubstantiated conclusions, Id be positive they were just some goats being herded by the top brass.
In their minds, being on the 18 day doesnt effect how many are furloughed or brought back. 95% of the pilots will not drop the 18 day even if it means saving you your job and house and family. They are too concerned with trying to be 18 again and buying that 75K corvette and the snowmobile for Aspen overnites.
Yeah, Im a little angry 2 years later.
#6
Banned
Joined APC: Oct 2010
Posts: 1,222
"... unfortunately, I don't have any confidence that the pilot group would stand together and say voluntarily remove themselves from the 18-day schedule in an effort to save some jobs ..."
DWS, I guarantee that wouldnt happen. The union guys are so hipocritcal it makes me laugh. The big union reps on the board will lie to you, and then 1 month later they will deny ever telling you that lie. I have lost all faith in NJASAP, and if I didnt know better and were quicker to draw unsubstantiated conclusions, Id be positive they were just some goats being herded by the top brass.
In their minds, being on the 18 day doesnt effect how many are furloughed or brought back. 95% of the pilots will not drop the 18 day even if it means saving you your job and house and family. They are too concerned with trying to be 18 again and buying that 75K corvette and the snowmobile for Aspen overnites.
Yeah, Im a little angry 2 years later.
DWS, I guarantee that wouldnt happen. The union guys are so hipocritcal it makes me laugh. The big union reps on the board will lie to you, and then 1 month later they will deny ever telling you that lie. I have lost all faith in NJASAP, and if I didnt know better and were quicker to draw unsubstantiated conclusions, Id be positive they were just some goats being herded by the top brass.
In their minds, being on the 18 day doesnt effect how many are furloughed or brought back. 95% of the pilots will not drop the 18 day even if it means saving you your job and house and family. They are too concerned with trying to be 18 again and buying that 75K corvette and the snowmobile for Aspen overnites.
Yeah, Im a little angry 2 years later.
After all this time they have finally admitted they don't have any solid way to track sell-offs. Rely on the FAA to keep them updated on fleet numbers. And what rely ****es me off is one of them fiunally states the real reason we aren't allowed on the msg. board. Then as soon as he is outted, retracts hios statement saying another thing..Then never shows up again....
Still love unions, just think they should stick to what they know...The contract and not trying to help run a business.
#7
One thing on our favor, the busy season is only 2 months away, flying should pick up....
January 2012 should be interesting
#9
Banned
Joined APC: Oct 2010
Posts: 1,222
The only way a furlough happens is if NJA owner losses continue down a negative path. Or this economy takes out a whole bunch at once... I still don't know how the disposals haven't affected staffing, but management must have an idea of when those a/c will be replaced and why they don't need to furlough because of it. Until this economy really strengthens furloughs are always an option, I just don't think NJA is at the point just yet??
I'm hoping there will be a time next year when it is blatently obvious we are out of the woods and can really start thinking about recalls... 2012 will definitely be interesting
#10
Line Holder
Joined APC: Aug 2008
Posts: 65
Article posted by CNN yesterday "The lower stocks go, the more I buy"
Two examples: A Berkshire subsidiary based in Israel, Iscar, which makes cutting tools for machines, is showing growth, "quarter after quarter," Buffett says, adding that this isn't because of market share gains. "It means that the machines are operating more." Buffett has another company, TTI, which sells tiny electronic parts. "It's like selling jelly beans, but we sell billions of dollars of them and it is up." And there's more too: "NetJets' miles flown by customers are up. Rolex watches -- we are the largest seller of Rolexes in the U.S. -- are up 27% this year," he says.
Two examples: A Berkshire subsidiary based in Israel, Iscar, which makes cutting tools for machines, is showing growth, "quarter after quarter," Buffett says, adding that this isn't because of market share gains. "It means that the machines are operating more." Buffett has another company, TTI, which sells tiny electronic parts. "It's like selling jelly beans, but we sell billions of dollars of them and it is up." And there's more too: "NetJets' miles flown by customers are up. Rolex watches -- we are the largest seller of Rolexes in the U.S. -- are up 27% this year," he says.
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