Triple jeopardy with the private jet industry is killing America’s high-tech jobs
It is quite unfortunate when a leading populist administration of the executive branch of the federal government is charged with starting a class war among society. Perhaps it is true that the private corporate jet is a symbol or epitome of wealth; a flying limousine if you will. However, you can call it what you want, but in the US we have a lot of high-tech jobs in general aviation and corporate jets.
Suffice it to say; we are very good at building the best flying limousines in the world. Okay, let’s talk about this second, because I’d like to give you an example of how far this class war has gone and how detrimental it is to the stability of capitalism and the free market in the US.
Now there was an interesting article in the Wall Street Journal on May 9, 2012 titled “Chesapeake Private Jets in the Crosshairs” by Mark Maremont and Daniel Gilbert. Turns out a lawsuit was filed against the company after its corporate aviation costs exceeded $10 million more than estimated or disclosed during an SEC filing and conference call, but I’d really like to ask why the lawsuit and Cost overruns in companies are common. , and in this case jet fuel has skyrocketed, as has corporate jet insurance and the like.
Not to mention the fact that the Obama Administration has criticized the corporate jet industry as a symbol of the jet-setting 1% at the expense of the 99%, it is basically populist or socialist political rhetoric that is making things worse in the industry. . For example, Wichita KS has the most high-tech manufacturing jobs in the country thanks to general aviation calling it home.
The lawsuit might have been seen as frivolous before the Obama Administration came on the scene, but now the general public views general and corporate aviation in a bad light, so a jury is likely to allow a large reward if this case is going to trial, and I’m sure the company realizes this, and will have to succumb to legal extortion (my opinion) in this case. I still wonder, where is the common sense in all this?
Why have costs increased in general aviation and the cost of operating a fractional jet in the first place? It seems as if the Obama administration caused the problem, and now the lawyers, the regulators, and everyone else are coming out of nowhere calling the 1% evil, even if in this case Chesapeake Energy’s corporate jets are no more than a business tool. And with all the hassles of commercial airline travel due to TSA regulations, some companies are forced to move 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, China can be expected to build corporate jets and the general aviation industry will come to an end in the US.