NetJets nets $207 million, praise from Buffett | The Columbus Dispatch

Full story: Columbus Dispatch

Billionaire investor and Berkshire Hathaway chief Warren Buffett again singled out Columbus-based NetJets in his annual letter to shareholders.

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general tso

Columbus, OH

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#1
Feb 26, 2011
 

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Not bad for a company that couldn't give it's employees a raise the past 3 years including this year 'due to it's revenue estimates'. Guess the impending unionizion interest in the operations division may now get some more interest.
Idiot

Columbus, OH

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#2
Feb 26, 2011
 

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The presidents stimulus plan must be working. This company laid off workers a couple of years ago. Could it be the rich just keep getting richer, with the ten year tax cut .
Anonymous

Pickerington, OH

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#3
Feb 26, 2011
 

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Raises were in fact given this year. Might want to check your facts general.
general tso

United States

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#4
Feb 26, 2011
 

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Anonymous wrote:
Raises were in fact given this year. Might want to check your facts general.
Might want to check your co-workers, anonymous. 1/2-1% at best across the board. My mistake. Benefits went up more than that. Warren and Mr. Suckol definately made more than 1% off employee sweat. If you made a good pay increase then I suspect you are in one of the unions or are upper level - or is Mr Suckol reading The Dispatch today?
concerned

Erie, PA

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#5
Feb 26, 2011
 

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Now that they've made all this profit, maybe they can give son's job back to him so he can provide for his family. I see Buffet and his cronies will make a bundle from this how about the 'little people' who actually do the work? What about them Warren? What are you going to do to return their job to them?
Anonymous

Pickerington, OH

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#6
Feb 26, 2011
 

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Not in a union. I'm just a good employee I guess. Certainly not in upper management. I'm a peon but got a good raise. So did my peers. I don't begrudge people making money. If people aren't happy with their raise they are free to leave its contract at will. Plenty have, plenty new came on board. Lets face it, the company is being run better now. If it had remained status quo there would be thousands more out of work. You cannot bleed money and continue to stay in business. Change had to come. You forgot to mention the 401k match has been put back in place. Do you care to dance some more general?
Anonymous

Pickerington, OH

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#7
Feb 26, 2011
 

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Ooops I forgot to address your benefits question. Again as just a worker the cost of my benefits did not go up this year, I can't speak to others based on their personal elections but based on the comparisons I've taken the time to do against similar sized companies in the area my package is still a heck of a deal. I'm paying less than most of my peers in my industry in Columbus and in most cases getting equal or better coverage.
The Economist

Columbus, OH

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#8
Feb 26, 2011
 

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general tso wrote:
<quoted text>Might want to check your co-workers, anonymous. 1/2-1% at best across the board. My mistake. Benefits went up more than that. Warren and Mr. Suckol definately made more than 1% off employee sweat. If you made a good pay increase then I suspect you are in one of the unions or are upper level - or is Mr Suckol reading The Dispatch today?
It is a business, and employees are nothing more than a resource it uses to make money. This is called working for the man, not sure if you have heard of this before.

If you are unhappy with how you are being compensated at NetJets, why don't you focus your efforts on finding a new position rather than complaining on a forum about your (implied) dead end job? Or better yet, focus on starting your own business where you get to keep every cent of net income. No one forces you to work there.

I can't believe I waste my time on this forum.
crash and burn

Columbus, OH

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#9
Feb 26, 2011
 
Yeah, on the backs of their employees and ex-employees who are now on the system, we're paying for. Just like a lot of these other companies who tout their so called social responsibiity!
cynic

Westerville, OH

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#10
Feb 26, 2011
 
I'll bet all the former employees who were forced to quit or get fired so they could up the bottom line are just praising the dickens out of Buffett and NetJets.
black lion

Dublin, OH

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#11
Feb 26, 2011
 

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This service is only for the most wealthy in America. Round trip on a private jet to Florida and back is about $20,000. You would not believe the locals that use this type of service. Just ask big Jim from OSU, he knows. Recruiting is tough work and they need perks.
danX

Columbus, OH

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#12
Feb 26, 2011
 
black lion wrote:
This service is only for the most wealthy in America. Round trip on a private jet to Florida and back is about $20,000. You would not believe the locals that use this type of service. Just ask big Jim from OSU, he knows. Recruiting is tough work and they need perks.
I'm sure OSU has a special contract to where they don't pay full sticker for NetJets trips.

But it's btter that they're based here than in the typical sunbelt states or closer to the wealthy enclaves of the USA. The alternative? No NetJets in Columbus, and the tab for that $20K trip you speak of routes somewhere outside of Columbus.

I look at A&F the same way. I have no use for their product. But it's nice to know that every teen /tween in the Western World pays out the nose for their products.

Friends of mine in Atlanta recently dropped $800 at Express and I merely thought "good for Columbus!"
crying baby

Columbus, OH

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#13
Feb 26, 2011
 
all of you complaining about the ex-workers who got canned, boo hoo, they were let go because they were not good at their jobs. netjets is not a charity case or a social service.
dirk

Powell, OH

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#14
Feb 27, 2011
 
general tso wrote:
Not bad for a company that couldn't give it's employees a raise the past 3 years including this year 'due to it's revenue estimates'. Guess the impending unionizion interest in the operations division may now get some more interest.
I got 4.5%. LOL @ lackies getting anything less
Wait and see

Columbus, OH

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#15
Feb 27, 2011
 
Hey crying baby, how do your know why those people were laid off? Do you have facts? If so why don't you post them. If not, keep your opinions to yourself.
Wait and see

Columbus, OH

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#16
Feb 27, 2011
 
Now it is time to see if management can make a profit by actually growing the company instead of just cost-cutting. That will be their true test.
Unsilent Majority

Chicago, IL

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#17
Mar 2, 2011
 
NetJets, once a pillar of the Columbus community and one of the truly great employers to work for, has become a shameful excuse for an employer. What the current leadership has done to the culture of the company is a crime. Many employees are so deflated and emotionally abused that they are like battered spouses who believe there is nothing better out there.
Private aviation is a dying industry and the marketing shift from luxury to time savings as a gesture of corporate fiscal responsibility is ridiculous. True fiscal responsibility is divesting in the financial and environmental suck hole of flying privately and investing in technology like virtual presence which yields equal value as face to face meetings.
And when travel is necessary, suck it up and fly commercial on Sunday night like the rest of us. That is the standard we should be holding all of corporate America to and anything less should be shunned like NetJets did to Pelotonia and Ohio State University and Hawker Beechcraft and Cessna.
Wait and see

Columbus, OH

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#18
Mar 3, 2011
 
Very short-sighted thinking Unsilent. The airlines do not serve many small communities where companies either have or may like to have some sort of operation. The death of private aviation may spell those communities' economic death as well. Also, private aviation may actually make economic sense under many circumstances. If you have a large group of employees going to one location. Not to mention if you have an executive making millions of dollars each year, do you want them standing in line at the airport doing nothing or would you like them to be able to continue working while they travel.

Virtual presence may replace private aviation to an extent, but ask any business leader worth his or her salt and they will tell you that there is nothing like actually having a face-to-face meeting.

Corporate aircraft manufacturing is one industry where the U.S. still has a lead; at least for now. If you are wondering, I am NOT an employee of NetJets.

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