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So many stocks are -- 52 week highs among them some of the aerospace companies let's take a look.
Boeing and Lockheed Martin are both hitting brand new highs today.
Look up a bit of panic move through the airlines of the airplane makers when the sequester hit just a couple of weeks ago with the FAA it was slam.
Worries about smaller airports shutting down their control towers delayed flights.
But net jets never -- instead the fractional jet ownership company owned by Warren Buffett is buying.
Hundreds of private jets for its burgeoning business -- -- a Fox Business exclusive report out like that just forget Jordan apple.
Was flying high as that's the difference really recovers Jordan what do you see right now on the fractional jet ownership landscape.
We're we're seeing things increase year over year particularly the United States.
It's significance -- -- minutes apart back to the macro economics and parts of the things we've been doing that -- house Europe doing.
It's a little tougher but even then we've been seeing some good news recently in the last couple of months we've been having some greater success but I think they've got a long way to go here.
Which country is your business growing the most quickly to China -- it felt the US is -- the -- -- real.
And then Europe has been steady to down in China is to -- to tell the -- But do you start to see some of those the rising upper class Chinese and that being restored to recalled Chinese wealthy people oligarchs and that's the Russian term but.
Are they really starting to use fractional jet ownership they're starting to use jets right and we will be part of that we -- OK I wanna I wanna get to what we saw yesterday.
Our Fox Business cameras got access to a hangar here at all -- off where we walked in and saw.
Granted jets that you guys are I cannot believe the numbers first -- -- You have about 670.
Jets on order some of what you started to take possession up.
And we're looking at both the Embraer.
The phenom and that of course the 6000 of the 5000 -- party day we just RS CEO Bob party game from the bill -- conference.
We see citations as well but.
-- who's using your fractional jet ownership here in the United States is there is their typical client.
It's an even mix you know where the largest flight department in the world which means corporation use just apply it and we have a number of individuals who use -- little personal ones as well.
Rap star's sports the tires up -- so we I don't I know you've got to never reveal you don't customers we don't you job but it's fascinating to see.
Cool coughs up the money because it it isn't she certainly.
Do have the fractional jet ownership how does that work for.
For the rest of us out there who don't participate in something like that -- like buying a time share and economy.
If you're buying a piece of -- -- and you fly a certain number of hours on the you're just depends on how much he -- The sequester how closely did you watch the news headlines about that because.
There was some question as to whether control towers would be -- some of the smaller airports which I'm sure many Boettcher explains.
But we watch the news and we have direct lines into the FAA so -- get information from -- sources net jets is somewhat unique because we fly and gun control towers all the time.
We service 5000 airports on six alone so we were well prepared really no matter what happens -- how do you prepare for something like that.
We plan ahead our pilots are ready and they know whether towel beyond control over control and they -- we're.
Speaking of pilots argue higher.
We have we are not at the moment -- we've got a large extremely sophisticated.
Were forced -- problem.
Reported before I let obviously safety record certainly but our most of these are men and women former -- airline.
Pilots they come from the military they come from the commercial world.
We look for obviously hyper competent piloting skills.
And strong and personable lapses -- Buffett bought the company back in 1998.
Feet two is a customer obviously.
What's it like what kind of insight that's the most important thing you learn from him being.
A division of -- -- Take a long term view.
Be sure that you're making decisions that are going to be good for your company's good for Berkshire over many years ago.
And what he also looks at what's happening he's not afraid to commit capital to see that.
Bob -- Warner.
For billions of dollars was a little shocking -- he became instantly became their biggest quarter ever.
Oh that's right we have on order today seventeen point six billion dollars.
And you can only do that if you work for them.
I want to open up something about -- he was never the CEO of any other company went to -- -- right you're legal counsel that but do.
Attribute your success to announce you're gonna get all humble but don't because of church and if it's true.
We didn't manage people are exhibited what if what you've never been a CEO before.
But -- putting kick your cues from the deficit profit that's too easy we'll have had tremendous people who worked for all times editors that worked my father worked for Justice Scalia worked for Warren now.
So I have a tremendous people watch what was your first job you ever had.
Not -- groceries but but but really -- a very good at it where it but at a I'm from -- Iowa not so good to zero restaurant supposed to overload a fourteen minute have got things you have to put the eggs in the bottom it took -- years of the -- the outcry.
Look at it that the cause and effect of all that's been happening -- the fractional jet ownership world view.
Had to endure losses view that jets added -- losses and you turned that around -- -- Is that could you really say that it was anything special but the company did or is it -- recovering economy.
-- I think it was the team -- -- -- -- tremendous job because we saw those turnarounds long before the economy started to come back this way they did a terrific.
And finally what is the strangest deal out of your clients up at her request -- -- that jet -- there are lots of things but.
We would actually the question most are in the news and Pringles believe it or not.
At -- Pringles for the high -- that unbelievable George and it's a pleasure thank you so thank you very.
Jordan -- out -- that that jets chairman and CEO one of the younger managers.
In the Berkshire family at age 42 we appreciate you speaking to what's exclusively apparently thank you any time we --
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