Fractional recalls. vs major airline hiring
#21
Netjets is owned by Berkshire Hathaway, the 5th largest company in the world (by market cap)... But if we don't give Mr. Buffett his 4% rate of return, he will pull the plug on us.
The majors are now too big too fail. Even if they have a very bad a year or two or three, they're not going anywhere..
A major can loose a butt load of money and be given time to recover... Netjets doesn't have that luxury
#22
As a capitalist, I think "too big to fail" is the worst idea anyone in government or the private sector ever dreamed up. While I hate hearing about folks losing their jobs, bad companies need to die. Otherwise, there is no incentive for companies to adopt sound practices.
I have my fingers crossed for NetJets. I'm curious to see how the company looks once they get through the furlough list and start hiring off the street--however long away that is.
I have my fingers crossed for NetJets. I'm curious to see how the company looks once they get through the furlough list and start hiring off the street--however long away that is.
#23
A major "may not go anywhere" but while that not-going-anyway-is-happening, it is fueled by layoffs and cuts. AA didnt go anywhere either, but ???? 1500-2000 ???? pilots were on the street for 10+ years.
Again, "they didn't go anywhere"
I would argue that the economic jitters in the world are less a threat to NetJets versus a major airline. NetJets is a more elite clientele, more isolated from those things, than Joe Traveler who bought his tickets on Priceline for $99 to fly coast to coast with his flip flops and sleeveless wife beater t-shirt.
Hard to make money on that, when oil goes up/etc. If oil goes up, Oprah Winfrey is still flying to Nevis and mid-sized company with a Frax share is probably going to be ok. (they bought a frax share because 1) airline travel doesnt work for them, 2) they dont want the risk associated to operating a full fledged jet/flight department)
I could be wrong. Not arguing with you, I am on your side, but I don't subscribe to the Too Big to Fail theory.
Enron, Pan Am, TWA, the US Congress, etc etc too many examples
#24
Real world example...
I was at Flight Options from Jan '03-Oct '07 and left Options to accept a position with Continental. This was all blind luck, no skill of my own, that only a year later several hundred of my coworkers were furloughed at Options and I dodged that bullet. Also, I was hired at CAL just two months ahead of the most senior of those guys who were furloughed at CAL in '08. I narrowly dodged two furloughs and remained gainfully employed (though, on reserve) all that time. Again, none of this was due to any particular skill on my part, just by the grace of God and some serious luck.
I will always be a charter/fractional/corporate guy at heart. I feel that the skill set I gained from being there set me apart from the average 4-year aviation-degree kid that jumped into his EMB/CRJ right out of college. I left because I felt the security of the major airlines were better than that of the fractional industry and I'd make more compensation long term. Times have changed since '07, so I don't really know what the right answer is, but I think that the original answer by the NetJetter was spot on.
Just my $.02
I was at Flight Options from Jan '03-Oct '07 and left Options to accept a position with Continental. This was all blind luck, no skill of my own, that only a year later several hundred of my coworkers were furloughed at Options and I dodged that bullet. Also, I was hired at CAL just two months ahead of the most senior of those guys who were furloughed at CAL in '08. I narrowly dodged two furloughs and remained gainfully employed (though, on reserve) all that time. Again, none of this was due to any particular skill on my part, just by the grace of God and some serious luck.
I will always be a charter/fractional/corporate guy at heart. I feel that the skill set I gained from being there set me apart from the average 4-year aviation-degree kid that jumped into his EMB/CRJ right out of college. I left because I felt the security of the major airlines were better than that of the fractional industry and I'd make more compensation long term. Times have changed since '07, so I don't really know what the right answer is, but I think that the original answer by the NetJetter was spot on.
Just my $.02
Thread
Thread Starter
Forum
Replies
Last Post