Originally Posted by Jeff Lebowski

The entire fractional industry is a "shadow of its former self" and I don't think BH had much to do with it. The jets don't have the residual value they once had and that was the cornerstone of the model. Owners could cash out at the end of their contracts and thanks to depreciation and tax advantages they basically made money owning quarter shares. Now there's a glut of bizjets and managed-charter alternatives and they have eaten away at the fractionals big-time and I don't see the trend reversing itself.

The high water mark for fracs was 2007 and it's been in contraction mode ever since. I think if Uncle Warren had one do-over it would be his purchase of NetJets.