Turmoil at Netjets
#11
In business, there is no such thing as a "New Normal".
The two most common reasons for business failure are:
1) A lack of capital
2) Failure to adjust to changing environments.
AL
#14
In the end, it takes money to make money.
#15
Banned
Joined APC: Jul 2006
Position: Space Shuttle PIC
Posts: 2,007
Unfortunately, it's a tough lesson for a lot of pilots who probably left good jobs for the "ideal" fractional position. I wish everyone there good luck and a speedy return to work for those impacted.
#16
Gets Weekends Off
Joined APC: Aug 2008
Posts: 195
3) Make a profit
4) Have sufficient cash-flow to cover operational expenses
For most businesses revenue is down 20-40%. And no one knows when it will or ever recover. Ex. Nasdaq was 5,000 points in March 2000 and today it is about 2,200. It has not recovered in the last 9 years and 9 months.
By NEW NORMAL I mean spending is way down, conspicuous consumption is way down, the wealth effect has disappeared.
1 out 5 Americans is unemployed, under-employed, or stuck in a PT job.
1 out 8 families can’t even pay their minimum CC payments.
1 out 12 homeowners is behind, underwater or in foreclosure even though they are honest and did everything right.
#17
#18
#19
Gets Weekends Off
Joined APC: Feb 2006
Position: C47 PIC/747-400 SIC
Posts: 2,100
i've done both ,boxes,and folks ,both have their pros and cons. Boxes in DC3's,and Convair 340's,outstanding airframes,awesome flying, pax in 727's,and Citation XL's,and XLS's,also outstanding. Its all good.
#20
But for how long? According to the article, there was no integrated business plan. I'll bet that most of the Netjets corporate customers used integrated business plans to run their businesses efficiently. I think there was a perception that Uncle Warren would fund all of the excess waste forever because of his huge wallet. But you need a return on investment and it can't take 20 years to achieve it.
Unfortunately, it's a tough lesson for a lot of pilots who probably left good jobs for the "ideal" fractional position. I wish everyone there good luck and a speedy return to work for those impacted.
Unfortunately, it's a tough lesson for a lot of pilots who probably left good jobs for the "ideal" fractional position. I wish everyone there good luck and a speedy return to work for those impacted.
Thread
Thread Starter
Forum
Replies
Last Post