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Old 08-19-2019 | 08:19 AM
  #118  
Macjet
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Joined: Feb 2007
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From: Airplanes
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Originally Posted by dutchroller
For one of the companies he owned.


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I'll assume you're talking about NetJets. Santulli was allowed to run his company hands off until he needed a $1 billion commercial note cosigned by Uncle Warren. Richard was a great guy but it was time for a change. Not that David or Harry Potter was the correct replacement though.

I don't know of a board of directors who don't prefer being owned by BH. There are few businesses that run on 120 day planning cycles much less transportation companies. Airlines are run on long term strategies buying assets with decades long depreciation schedules. Look what just happened to NK stock. A growing airline that is profitable and the stock tanks 24% because of the 'now' mentality of Wall Street. It's hard to plan long term when you have short term minded people to report to. Being owned by BH would allow our BOD to report directly to BH and to someone who understands the long term strategic decisions and investments required.
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