Tue, Oct 27, 2009
With the end of the 2009 NBAA Convention, the BizAv community
has had a chance to take stock of the year that has passed and
evaluate their future prospects. While attendance and participation
were obviously at lower levels than in year's past, the community
showed that it is willing to do what it must to survive, and is
seeking new opportunities and business venues as aggressive as the
current economic climate allows.
This year's NBAA Opening Session featured four primary
speakers... each with something to say that had an impact on the
BizAv community. This year's roster included FAA Administrator
Randy Babbitt; Forbes magazine publisher Rich Karlgaard; Tom
Buffenbarger, president of the International Association of
Machinists and Aerospace Workers; and Golfer and Business Aviation
Advocate Arnold Palmer.
Of course, the issue on everyone's mind was the economy... and
who better than the Publisher of Forbes, a pilot himself, to talk
about that issue and the hopes of a recovery. Rich Karlgaard, who
flies a Cirrus for business purposes, compared the current
recession to the one of 1973–1974, he suggested that the
recovery from the current economic malaise could be similar to the
recovery of the mid-1970s, which was characterized by inflation,
stagflation and a jobless recovery.
However, Karlgaard said there could be good news: Recessions
tend to weed out weak competitors, and the 1970s were notable for
the emergence of entrepreneurial companies such as Microsoft, FedEx
and Southwest Airlines. Plus, he thinks that the global growth that
continues today in places such as China, Brazil and India is "not
going to stop. There is plenty of reason to be hopeful," he
concluded.
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