“Time is our most precious commodity, and there are conveniences that wealth brings to essentially get you more time. —retired Microsoft CEO Steve Ballmer, explaining why he commutes via private jet from his Seattle home to watch games of the Los Angeles Clippers, the basketball team he bought last year for $2 billion. ”
Embraer's Executive Jet Division Looks Healthy
The new executive-jet division of Brazilian aircraft manufacturer Embraer-best known in past years for building regional airliners-is doing remarkably well. Third-quarter numbers, which the company released in November, show that it had received 300 orders for its new Phenom 100 very light jet and Phenom 300 light jet as of September 30. It also delivered 17 Legacy 600s in the first three quarters of 2006 and, according to an Embraer spokesman, "2006 will be a record year for Legacy 600 deliveries." Embraer's executive jet division accounted for 20.5 percent of the company's net sales total of $894.1 million during the same time frame.