kingairfun

Well it's April 6th.......almost a whole week after D-day for the proposal.

We did nothing, approved nothing, and managemant has done nothing.

The viability of the company now rests on the shoulders of one section of a contract. Threatened more furloughs ...again....

Begs the question...... if they're so overstaffed, what are they doing? Biding their time... If the financials of the company are so dire, why not just cut the fat now? Oh, I forgot, they are trying to do their best to save jobs....I forgot, they are the good guys.....

The only reason this has all come up is because it has gotten busier, sooner, than they expected.....And they have to make one last ditch effort to not let a good crisis go to waste. That and they shelved too many a/c too quickly because they underestimated the markets return.

UCLAbruins

You make a good point about the market's strong return sooner than they expected. Just look at flightaware on a typical Thrusday, Friday, or Sunday around 5 or 6 p.m, you'll see around 100 QS airframes in the air plus 15-20 EJM frames. Granted not all those flights are revenue flights but they're still being manned.

kingairfun

I never had any doubt that the market would return.. I've been predicting breaking 13000 on the DOW this year. And will be at all time highs by end of 2012 or shortly thereafter. That is where most of our business comes from is the financial sector. So it will only make sense that business will return to NJA. If my 401k is up over 100% since March '09 and was up over 23% last year and already up 11% this year, I'd say that those that really know what their doing are making extreme money.... Hell, my simple mind has beaten the S&P over the last 2 1/2 years... And I have no clue how to pick funds.


The only doubt I have in my mind is what is the long term (3-5) year plan. Are they going to try to run a leaner NJA? If that's the case then it's a losing battle for us. If they are just trying to save a buck now, then I have no doubt we'll all return with the uptick in business.

But it's the unknown future plan of NJA that has me planning for life without NJA in it. I think the business will be there very soon, but does NJA want to get that business? Or do they have an optimum size (smaller) in mind and farm off the rest....

jtf560

I think they want to shrink to some magical number that they believe they can avoid a massive loss again if another bubble bursts. While the sales force is improving, I can't help but think they could hire and train the sales force MUCH better and do a much better job selling. It's absolutely embarrassing listening to the sales guys and witnessing their lack of knowledge. It's not like they can't actually study the real world numbers or at least pick the pilots brains for what is realistic with these airplanes. Most of them are honestly afraid we will open our mouths and tell the owners the truth after either making it up or outright lying about the capabilities. Most of our customers are pretty bright people and I know they get ****ed when they get lied to or misinformed and I'm pretty sure they can often tell when our sales force doesn't really know what they are talking about. I wonder how many sales they **** away due to lack of knowledge and integrity.

It would also be nice if we could start taking some new airframes here and there while disposing of the old ones so that the company could start doing the thing that actually makes the money. I applaud them for getting the costs to a more reasonable level, but they have gone too far now. I just don't believe we can really run the business at a profit for a considerable amount of time without selling some new airframes. Even if we have to park some aircraft to artificially force people into new airframes, I just can't believe that the profit isn't worth the cost of mothballing until the airframe can be disposed of. I think they are just too afraid of another meltdown to push forward again. Maybe if they ditch the union buster and get a CEO who has the guts to move some acquisitions forward, we may be able to actually move ahead with real profits from the sales that sustain the model in the first place. I'm not holding my breath for that. I'm holding my breath that they won't cut so far that I'm on the street when they really don't need to do so.

kingairfun

4/12...and no new furlough announcement.....Company must have plenty of cash reserves to be so gracious as to let 300 pilots remained employed....

Last week Eyer's msg. was about getting the contrcact ammended and then threw the 'ole furlough fodder in there..

This week he must have gotten a lot of e-mails telling him to shove his demands as well as his threats....Because his message this week was much less astonishing...(sarcasm)...read: more low key.

kingairfun

No furloughs this week. And CS, FLOPS recalling pilots and saying business is really doing quite well. Interesting...(scratching my chin in a Michealangelo statue pose!)

Lazyb757

Liquidating more planes.......

kingairfun

just saw that.... and the hits keep on comin....

RideandDrive

I think they will continue to shrink the company no matter how strong the economy becomes. Less exposure for them and any excess flying they would like to farm out to EJM.

UCLAbruins

I think so

I still think Santulli is to blame, more so than our current management, RS had some ambitious goals. This is a case of someone biting more than they can chew