Why do you keep after Warren Buffett like that? He is , I think, fairly up front with what he does, cripes, has even suggested a big tax hike for people like him , much to the horror of his rich colleagues.Well it looks like Jimmy Buffets old brother Warren's company is doing well. Warren ownes the world largest jet air taxi company in the world.
Yep, Warren is just another Limousine Liberal!!!
New planes, reduced competition help NetJets earnings By Steve Wartenberg
The Columbus Dispatch Tuesday August 6, 2013 2:19 AM
The second-quarter earnings news from the company led by billionaire Warren Buffett shows that, in the first six months of this year, NetJets experienced increased sales of fractional aircraft shares and its earnings increased primarily due to improved flight-operations margins, fractional-sales margins and reduced net financing costs.Observers say the new planes being added to its fleet and diminished competition in its industry have helped.
The company is in the early stages of a fleet upgrade that is expected to include the purchase of 670 aircraft for$17.6 billion over 10 years.
CEO Jordan Hansell was not available for comment yesterday.
Told you before, Buffett is not a liberal-type limousine guy. Last I knew, he still drives himself to work in a 10 yr old car and lives with his wife in the same modest bungalow they moved in when they married. He now flies business class at the urging of his peers, aometimes uses NetJet's airplanes. Up to 1 years ago, guy flew coach.
He built a company that benefits shareholders, no funny stuff. There is nothing wrong getting rich if you pay your fair share of taxes, which he does yet he wants to pay more, along with Gates. He gave over $50 billion to a charitable trust, and he and Gates have literally wiped out yellow fever and smallpox in developing countries. I'm sure the guy's no angel in business, but what exactly do you have against him?
Oh, and his company NetJet's business is making private flying available for those who can't afford to rent or lease one full-time, which in fact democratizes private jet flying. I've heard that in some cases, renting one of those jets will often cost the same thing or a little more than business class, but think of the reduction in red tape, check-in, security, transfers etc. Seems like a good idea to me. Thanks to NetJet, those tycoons from Chrysler and GM would not have had to be accused of coming to Washington begging for billions minutes after getting off their private jets. And thank you from Bombardier for the 75+ plane order.