Corporate Jets on Wall Street


Mashin' dem buttons
Still, some firms have avoided corporate jet ownership. Goldman Sachs Group, whose executives in past years have been among the highest-paid in the industry, has never owned its own aircraft since going public in 1999, spokesman Michael DuVally said.

The company does make private planes available to some executives through a fractional jet agreement, a timeshare-style arrangement, according to filings. Duvally refused to say how much the company spends on its fractional agreement.
Cause its a HELLUVA lot more expensive than owning and operating your own airplane.


Absentee Dad of the OOTSK, Runner, Cat Frustrator
I guess I need to take more hours out of my day and ride the bus to work, because owning my own car is obviously cheating my family out of "dividends".


El Chupacabra
Cause its a HELLUVA lot more expensive than owning and operating your own airplane.
Not necessarily. It just depends on how much you use it. I think (but could be waaaaay off) the general "magic number" is somewhere around 400 hours a year at which owning becomes more cost effective.

After years of railing against such costs, billionaire investor and Berkshire Hathaway Inc. CEO Warren Buffet broke down in 1989 and bought a Gulfstream IV-SP using $9.7 million in company funds. He named the aircraft "The Indefensible."
I like how they forget to mention his relationship to NetJets :D

One thing I still don't understand is that concept that corporate jets are just for the "fat cat" executives (as if they fly corporate just to spite everyone else). Sure, there are several companies that do that, but I think a much higher percentage use them like we a bus. Or a semi. Generally, we fly our board of directors twice a month...once to pick them up, once to drop them off. Our CEO may fly, I dunno, two, three, maybe four times a month? The vast majority of our passengers are contractors, lawyers, technicians, and other all around good people.