Turmoil at Netjets
 

Looks like the new CEO is making some enemies... the previous CEO resigns without warning, 495 pilots about to be furloughed, accusations of improper behavior, etc. Not good.

http://www.nytimes.com/2009/12/04/bu...l?ref=business

The American Trend continues....who can do it cheaper. America isn't about providing a quality service anymore.

Treat the blue collar workers like crap (who actually make the company run) and give all the so called 'managers' (AKA paper pushers) the nice bonuses...

Ahh I love Corporate America. Race to the bottom continues.

Sad to see a great company like Netjets go down this road.

By owning stakes in aircraft they share with other owners, customers get private flights for far less than the cost of owning their own plane.

Thats funny and total B.S.

No turmoil at NetJets, we're experiencing a difficult year, people getting furloughed/let go, revenues down, lots of frustation going around, but no turmoil....I've been through this with the airlines before, the morale here at Netjets is nowhere near as bad as I've seen. Believe me, I've seen turmoil before

Here's a GREAT article I found on an Indian newspaper "Sokol imposing budget discipline at Netjets"... it pretty much tells the story of what we had with Santulli, and what Sokol is trying to do

Berkshire Hathaway's Sokol Imposing Budget Discipline and Culture Change at NetJets -- GuruFocus.com

The amount of money NJ blows or used to blow on needy rich folks seems to have ended. I remember thinking a few years ago why would their pilots pick the most expensive hotels/food possible...well because they could. Doesn't appear this new CEO is into putting pilots up in 5 star hotels with Ruth Chris steak dinners. A good friend is getting the boot in a few weeks...right after Christmas. Best of luck.

The culture here was to spend whatever was neccesary to get the job done and keep the owners happy....

Good way to do business! Keeping people happy is great...
Isnt that the way FedEx does it? I dont know to many people that dislike them.

Our economy is now operating in a NEW NORMAL. Businesses will either adjust or go out of business.