AVSIG: 495 pilot furloughs wwswsigarch.jpg (7236 bytes)

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AVSIG Discussion Sections >> Airlines & Air Crews

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Ralph Jones
Top Gun


Reged: 08/31/01
Posts: 21214
Loc: 4CO2
495 pilot furloughs
      #271966 - 11/05/09 04:08 PM

...at NetJets.

--------------------
Ralph Jones
LS-4a N49LS 6R


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Scott Dyer [HPN/NY]
Top Gun


Reged: 01/11/03
Posts: 20065
495 pilot furloughs [Re: Ralph Jones]
      #271968 - 11/05/09 04:23 PM

Ralph -- I'm thinking about our Avsig friends who work there....

--------------------
www.scottdyercfi.com


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Bruce Gorrell [EQY]
Top Gun


Reged: 04/29/04
Posts: 7864
Loc: Charlotte, NC
Re: 495 pilot furloughs [Re: Scott Dyer [HPN/NY]]
      #271978 - 11/05/09 05:30 PM

I'm safe so far, as is Johnny. I haven't heard from him lately, he's on the GV now, very senior.

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Scott Dyer [HPN/NY]
Top Gun


Reged: 01/11/03
Posts: 20065
Re: 495 pilot furloughs [Re: Bruce Gorrell [EQY]]
      #271993 - 11/05/09 07:16 PM

Bruce -- Bon.

--------------------
www.scottdyercfi.com


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Bruce Gorrell [EQY]
Top Gun


Reged: 04/29/04
Posts: 7864
Loc: Charlotte, NC
Re: 495 pilot furloughs [Re: Scott Dyer [HPN/NY]]
      #271994 - 11/05/09 07:19 PM

Thanks. Apparently, there may more next fall.

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Scott Dyer [HPN/NY]
Top Gun


Reged: 01/11/03
Posts: 20065
Re: 495 pilot furloughs [Re: Bruce Gorrell [EQY]]
      #272002 - 11/05/09 09:13 PM

Bruce -- I'm sensing that business is starting to pick up, at least in the
money centers and that bonuses may be bouncing back considerably from last
year. That has to help the frax. Layoffs among my clients are largely
complete, just not seeing many at all now, a year ago it was an absolute
bloodbath, very depressing holidays dealing with all of that. We've got a
long, long way to go but I think the corner has been turned in a number of
sectors.

--------------------
www.scottdyercfi.com


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Bruce Gorrell [EQY]
Top Gun


Reged: 04/29/04
Posts: 7864
Loc: Charlotte, NC
Re: 495 pilot furloughs [Re: Scott Dyer [HPN/NY]]
      #272004 - 11/05/09 09:29 PM

We are hopeful, but the triage here started too late. We still have quite a few "unassigned aircraft" and with the market starting to pick up, they are starting to sell them off. They are getting rid of the BBJ's, all of the Ultras and Encores and the Honeywell equipped Hawker 800XPs. That's a lot of aircraft and at a manning formula of 5 pilots per aircraft is a lot of pilots.

Sales, of both shares and of Marquis cards, are picking up and we're entering the busy time of the year (thus the furloughs effective January 16th) and I hope it keeps increasing.

We see some light, and we don't don't hear a whistle, so I think we may be able to avoid any more furloughs.


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Ward Miller POU-NY
Top Gun


Reged: 05/05/04
Posts: 10508
Loc: New York
Re: 495 pilot furloughs [Re: Scott Dyer [HPN/NY]]
      #272023 - 11/06/09 06:12 AM

>> ...long way to go but I think the corner has been turned in a number of
sectors. <<

Scott, you might remember Nina was a very successful real estate broker in
the Millbrook area (the Hamptons of the Hudson Valley) before she had her
stroke. Mary Tyler Moore and Liam Neeson were some of her customers. She
and her office mates used to deal in the $2 mil and up market.

I was talking to the other lead broker in that agency yesterday. She has
sold one house this year and just recently, in downtown Poughkeepsie, for
$285K. She said their inventory is almost non-existent in their usual
market. Quite a few in the below $300K, in the nearby "bedroom
communities", but that segment is drenched with RE agents, not deal makers.
Much of their prior clientele made cash deals. None of that breed has yet
come out again to play.

So, "the corner" has yet to be turned hereabouts.


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Scott Dyer [HPN/NY]
Top Gun


Reged: 01/11/03
Posts: 20065
Re: 495 pilot furloughs [Re: Ward Miller POU-NY]
      #272026 - 11/06/09 07:14 AM

Ward -- It's going to take a while longer for real estate, just as for hiring
more employees. Those will lag, I think, but businesses hopefully will be
more comfortable with buying some NetJets time on a more advanced schedule.

--------------------
www.scottdyercfi.com


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Ward Miller POU-NY
Top Gun


Reged: 05/05/04
Posts: 10508
Loc: New York
Re: 495 pilot furloughs [Re: Scott Dyer [HPN/NY]]
      #272043 - 11/06/09 10:16 AM

Scott, this goes to show one data point does not a trend make, nor one
swallow a spring.

After my previous post, I noticed this headline on page 1 of PokJo this
morning: "Home sales soar; prices stay down". It went on to say Sales was up
18.3% over Oct 08, average price was $298,982, with median $265K, down 9.6%
from a year ago. Last three months sales have increased 24%, 35%, and 18%,
compared to same months last year.

So, the middle income families are apparently getting money and investing it
in new homes, in this area anyway.


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