Mr. Santulli's interview on CNBC. I knew about it but missed it, did a search and found a link. For those of you who wanna see it, here's the link..... Is not about NetJets or the fracs, is about all of us in corporate aviation......

Value Investing World: Private Jet Industry's Rough Ride - Richard Santulli on CNBC

God I love the media, where would we be without them (probably out of the recession by now)

 

Great clip. Im glad people are starting to feel more comfortable defending private aviation. People against the use of private jets just dont understand the GDP implications of what we do. For example, Dassault, a French aircraft manufacturer has plants in the Southeast empoying hundreds if not thousands of americans. Not to mention, Cessna in Wichita, Gulfstream and everyone else all the way down the line. I fly a citationX to some of the crappiest podunk airports where huge financial deals are made that would not be possible with the use of commercial aviation.(Airliners are great for going to see grandma in Toledo and only if you have 13 hours to get there and an extra pair of underwear waiting for you) Many other pilots on here can say the exact same thing and at the end of the day we have benefited the comunities we fly to by opening a business or even just buying 800 gallons of jet A at 4 bucks a gallon.

 

I firmly believe that if people would quit watching the talking heads on tv, and quit reading the fearmongering doom and gloom news periodicals that the vast majority of this economic problem would go away in short order. Unfortunately, fear, doom and gloom sells just as well as sex.

 

That is exactly what Santulli said, " if Americans would quit watching the news for just three weeks, we would probably come out of the reccession".... but you're right, easier said than done

 

Well, I guess we can't celebrate yet. This was posted through Reuters today.

NEW YORK (Reuters) – Many highflying U.S. corporate chiefs are still enjoying the perks of personal travel on the company jet, even amid the global financial turmoil.

Throughout Corporate America, many companies require top executives to use company planes for all travel, including vacations. They argue it is a safety requirement for high-profile business leaders rather than a perk, and that private flights are more efficient for busy executives who don't have time to waste waiting in airports.

Some companies have stopped underwriting these personal flights in recent years amid shareholder scrutiny of executive pay practices, but overall CEO aircraft perks are showing no signs of fading, according to a study released on Tuesday by executive pay consultant Equilar.

The report found that the value of CEO airplane perks in 2008 was at the highest level in the last five years, with the median value for CEOs in the Fortune 100 -- the biggest 100 corporations -- jumping nearly 29 percent to $141,477 from $109,743 a year earlier.

Also last year, 79.2 percent of the Fortune 100 reported allowing personal use of corporate aircraft, up from 74.7 percent in 2007, Equilar said.

Equilar examined the imputed income derived from an executive's personal use of company aircraft. Business use was excluded.

Rising fuel costs in early 2008 may, in part, explain the increase in the cost of these perks last year, Equilar said.

But the pay consultant said its research "suggests a reluctance on the part of companies to eliminate or reduce aircraft perks."

The corporate aircraft has long been a lightning rod of criticism for company shareholders, and with the economy in turmoil, many lawmakers and average Americans also are expressing their fury.

Auto industry executives were lambasted last November after they flew by private jet to Washington to plead for U.S. government bailouts. The next time they headed back to Congress from Detroit, they traveled in hybrid vehicles.

The Equilar study cited both General Motors Corp, now in bankruptcy protection, and Ford Motor Co as two companies that are eliminating or reducing CEO aircraft perks.

After the intense criticism in Washington at the end of last year, GM said it would divest any interest in private aircraft. Ford said it would sell its corporate aircraft, though it said it would pay the costs of charter flights for CEO Alan Mulally's business and personal travel.

(Reporting by Martha Graybow; Editing by Richard Chang)

 

Can someone explain to me why the talking heads at the major aircraft manufacturing companies don't become more public. They need to get out there and let the public know just how many jobs are really involved with aviation. Those numbers would surprise many a skeptic. From the parts puller at Gulfstream to the person who cleans the aircraft cabin in podunk city. There are so many cities or communities that depend on corporate travel just for their survival. Corporate or Fractional flying is not just for fun. It allows companies to conduct business in an effective manner. Granted there is some abuse in the system but, the economic impact of corporate or fractional travel overwhelms that notion. It is time for Gulfstream, Cessna, Hawker-Beech, and Bombardier to step up with their Public Relations staff and spread the word. Don't just give your personal layoff numbers, give the big picture. If you lay off one person, how many hundreds if not thousands are effected. Let Madison Avenue work to save our industry.
Just my .02 worth....