Tuesday, March 3, 2009

Thank the Big Three for Destroying the image of Biz Jets: Part Three

With all the bad press about private jets, I believe we need to think rationally before deciding that a business jet is evil.

My company, like thousands of others, uses a business jet. Why?

  • The business jet can be a money maker, a business grower, a business saver. We use it to visit prospects as well as serve clients. It builds business.
  • The business jet can allow a business to be located in a small city and still do business nationwide. My company is located in the 85th largest metro area in the country, Fort Wayne, Indiana. How in the world are we going to be able to work for great clients like VW, Audi, Ferrari, Freightliner, Suzuki, Schwab, and U.S. Trust without being able to serve them ASAP or whenever needed? We use our jet to help.
  • We use our business jet to help protect our employees' family lives. If we used commercial flights, my employees would spend hundreds of days and nights away from their families a year. Instead they hop in the jet, spend a day with the clients and are home for dinner with family. Families are happy, employees are happy, clients are happy - and all of that makes me happy.
The current bad press press won't dissuade us from flying our business jet. There is only one thing that has changed in the six months that affects our business jet: Jet fuel is cheaper. That makes me happy, too.

For those of you who may have missed these yesterday, below are a couple of ads we felt inspired to create to help people better understand how our business jet plays a crucial role in our business operations. It's not an extravagance; it's a necessity. I'd love for you to view the ads and offer any thoughts you may have on them.

Barry LaBov, CEO
LaBov and Beyond


  1. Bravo on your position and the ads! I like both!

    Folks really don't understand the value of our industry and we're not getting the real message out to the public. This will help.

    Our industry has been stressed for several years due to high fuel prices. Now, we're directly disparaged and maligned by the press and politicos.

    The high ticket prices, delays, congestion and the poor route structure of the airlines are not the answer.

    The business aircraft has proven time and again that it will save time and increase productivity, not to mention a better lifestyle for it's user.
    Our industry directly creates high tech jobs. It indirectly helps rural communities by providing access for business management to create and sustain industry.

    I hope the day never comes when we look to the sky and say "there goes a business jet! I sure hope they are landing in our town!"

  2. Steve, agreed.

    The current anti-private jet sentiment helps no one. The airlines, as you said, cannot pull us out of it--ticket prices are going up and even if they lower, there are less routes available, etc.

    The other thing that I think is getting lost is that this industry is a proud, passion, professional one. This is an industry that has passion for flying and for flying safely. If ever there was an honorable industry this is one. It does not deserve the treatment it's receiving.

  3. I agree!! I think there is a true misunderstanding among many people about business aviation. How much valuable time and money is lost in endless ticket lines and commercial runways around the country is staggering. Not to mention how many jobs are created (as you mentioned) to create smaller aircraft for companies. Granted not every company can afford the privilege of a corporate jet; however, for those who can, they can surely attest to the savings they reap every year for the convenience of quick transportation.

    Through the chaos and recent negative limelight of company aircraft, one of my main goals in life is to educate business owners (who own aircraft) of a powerful tool they can use in the midst of these tough economical times… that is 1031 exchanges.

    Many aircraft owners / investors have been using 1031 exchanges for years if they own their aircraft for a qualifying purpose (i.e. for investment or use it in their trade or business as opposed to a personal recreational use). In this scenario, when they sell and upgrade to the bigger better aircraft, they can defer their capital gains taxes from the old aircraft into the new aircraft and avoid paying unnecessary taxes prematurely. If done effectively, there could be no tax paid and a 100% tax deferral, even on depreciation! It's amazing how much greater buying power one has when they use this tool to their advantage! I think this also qualifies as spurring the economy when real money go back into it!

    Feel free to contact me if anyone would like to know more about how I can help! I can be reached at 612-643-1031 or on my website at www.1031podcast.com.

    Thank you!
    Jeff Peterson ("Professor 1031")

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