Business

Triple jeopardy with the private jet industry is killing high-tech jobs in America

It is quite unfortunate when a populist administration of the executive branch of the federal government is charged with starting a class war between society. Perhaps it is true that the private corporate jet is a symbol or the epitome of wealth; a flying limousine, so to speak. However, you can call it what you want, but in the US, we have a lot of high-tech jobs in the general aviation sector and corporate jets.

Suffice it to say; We are very good at building the best flying limousines in the world. Well, let’s talk about this second, because I would like to give you an example of how far this class war has come and how damaging it is to the stability of capitalism and free markets in the US.

Now, there was an interesting article in the Wall Street Journal on May 9, 2012 titled “Chesapeake Private Jets in the Spotlight” by Mark Maremont and Daniel Gilbert. It turns out that a lawsuit was filed against the company after its corporate aviation costs exceeded $ 10 million more than was estimated or disclosed during an SEC filing and conference call, but I’d really like to ask why the lawsuit, cost overruns in businesses are common. , and in this case Jet Fuel has skyrocketed, so has corporate jet insurance and the like.

Not to mention the fact that the Obama Administration has criticized the corporate jet sector as a symbol of the 1% of the jet-set at the expense of the 99%, it is basically populist or socialist political rhetoric that is making things worse in the United States. . sector. For example, Wichita KS has the largest number of high-tech manufacturing jobs in the country thanks to general aviation calling it home.

The lawsuit might have been viewed as frivolous before the Obama administration arrived on the scene, but now the general public views corporate and general aviation with a frown, so a jury is likely to award a grand prize if this case is heading to trial, and I’m sure the company realizes this, and will have to succumb to legal extortion (my opinion) in this case. Still I ask, where is the common sense in all this?

Why did the costs in general aviation and the cost of operating a fractional jet increase in the first place? It seems the Obama administration has caused the problem, and now lawyers, regulators, and everyone else are getting out of the woods calling the 1% evil, even if in this case Chesapeake Energy’s corporate jets are nothing more than a tool. commercial. And with all the hassles of commercial airline travel due to TSA rules, some companies are forced to relocate more executives in other ways.

Do you see my point? In fact, I hope you will please consider all of this and think about it. If we do nothing about it, you can expect China to make corporate jets and the general aviation industry to come to an end in the US.

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