View Single Post
Old 01-24-2020, 03:03 AM
  #29  
Retractable
Banned
 
Joined APC: Sep 2018
Posts: 378
Default

Originally Posted by DH2time View Post
some thoughts to ponder

1) NJA owes is success to a tax plan that is always evolving. The Bonus/Accelerated depreciation schedulers. The Capital Asset depreciation schedules, etc etc etc. NJA has its growth and it’s survival based on rich people being able to subsidize their “toys” on the back of the taxpayers. There is a greater chance of the tax law changing than ANY change to automation completely taking over the cockpit anytime soon. Current tax plan is unsustainable so it will change, the question is how much and what parts.

2) NJA has not demonstrated to anyone the ability to weather a financial downturn. They almost went under in 2009 with losses of almost 1B in one year. Since then things have improved but we are in the tail end of a growth cycle, it will change and then we will see if the untested NJA model will survive.

3.) Once Uncle Warren dies what happens to his empire? NJA stayed because Warren has a soft spot for aviation. It’s the glamour he craves in the industry. NJA is a laggard in his portfolio but he has been able to keep the investors at bay as he is Uncle Warren. Will Greg Able keep it? Who knows?

So much more to life than just money. I didn’t leave NJA cause of money, though the majors pay a TON more for the same amount of work. I left because of the toxic culture and the degrading QOL at NJA. I left because life is about enjoyment and for me NJA wasn’t cutting it. I post on here just to keep the Bartender honest, something he doesn’t like to do often enough.

NJA isn’t a bad job but it’s a tough career. It’s waking up at 0430 for a 0500 show then on duty for 11 hours only comprising of 2 legs. Loading bags, and don’t think you can buy off the rampers to do it all the time. Loading catering. Picking up after people. Emptying trash. Arranging fuel and toilet service etc etc etc. it isn’t hard but it’s time consuming and after day 6 you will be tired and irritable. Haven’t seen your wife and kids in a week. Now multiply that by 25 years, do you want to be doing it at age 65? That’s your choice and only your choice.

My point is don’t look at Bartenders jaded posts as the end all be all. It’s his perspective. He lucked out in a lot of ways. Bought his first 121 gig at Gulfstream, hired on at a major, furloughed (thus his bitterness), went to NJA during the hiring boom. Upgraded quickly and even got a super midsized cabin for a bit out of seniority order. It’s been a charmed life for him, well except the Philly speeding incident, but a charmed life for him at NJA.

Of you’re asking me...

1) NJA has been very successful defending its interests against unfair taxation. I’m sure that trend will continue on the front side of legislation and the back side of decisions. To worry about taxes is to worry about the next rainstorm. The question is “do you have an umbrella”?

2) The next downturn is already on the books for some future unknown date. Staffing, Owner agreements and fleet plans/acquisitions have been structured accordingly to avoid layoffs like were seen in the time period you mentioned. Frankly, if I were at Delta Or American, I would t want to be on the bottom 2,000 when it comes... Or the next 2000 who would become reacquainted with reserve and commuting. At NetJets, the plan for the next downturn began as soon as the recovery from 2009. I won’t get into specifics but if NetJets needed to retract into a recession mode to accommodate new Owner flying patterns, it simply would draw in a predetermined number of flying hours, retire some of the “oldest of the new” jets early and FDP would dry up. Staff will he maintained.

3) Regarding Warren... he’s never truly been “hands on” at NetJets but it is fun to see him comment on NetJets and various other BRK companies. He’s getting on in the years, it true but the structure of his successorship has been in place for the better part of the same decade were discussing. I have zero worries about this new BRK management structure getting along with, understanding and supporting our CEO and company.


The rest of your drama is mostly inaccurate or diatribe. Readers should take them with a huge grain of salt.

When the best downturn does come, good luck to you.
Retractable is offline