NetJets names new CEO in midst of labor dispute with pilots

[Omaha Steve]

Source: AP

By JOSH FUNK

OMAHA, Neb. (AP) — Berkshire Hathaway's NetJets unit has named new leaders in the midst of an ongoing contract dispute with its pilots union.

NetJets, which sells partial ownership interests in business jets, said Monday that Jordan Hansell is stepping down as chairman and CEO.

A group of NetJets pilots protested outside Berkshire Hathaway's annual meeting in May because they object to the concessions NetJets has been seeking since 2013 in contract talks.

Previously, Berkshire's CEO Warren Buffett had praised Hansell's cost-cutting leadership of NetJets since 2011. Buffett didn't immediately respond Monday to questions about the changes.

FULL story at link.


Read more: http://bigstory.ap.org/article/01c255fa9b844b2680bce37a1bffb1b6/netjets-names-new-ceo-midst-labor-dispute-pilots

[SoapBox]

1. "praised his cost-cutting leadership"

Be proud Hansell and Buffett...be very proud.

Not.

[catnhatnh]

2. A funny story about NetJets

Years ago when they first started Don Imus of the Imus in the Morning show was interested in buying into a jet. For several weeks he would discuss this on the show and how nice it would be to commute from the NYC area where the show was produced to his ranch in the southwest. His sideman Bernie McCoy would deliver subtle jabs suggesting the purchase was wasteful or ostentatious. He and Imus would banter about costs and benefits almost daily.

One morning Imus announced with obvious pride in his voice that he had just completed the deal to buy into a jet. Bernie replied "Oh yeah-what model did you get?"

Imus replied "Gulfstream IV"

Bernie then replied with incredulity "A Gulfstream IV??? You let them stick you with the Volkswagen of corporate jets???"

Two days later Imus announced he swapped into a more "upscale" model...
I've often wondered how much McCoys remark cost him.