Despite all the negative press, business jets are an indispensable and productive tool for many businesses
LaBov & Beyond, a marketing firm in Fort Wayne, Indiana, recently bought a used Citation CJ1 aircraft at a bargain price of $1 million. The aircraft enables Barry LaBov and his team to be responsive and flexible in serving their clients who are located in 14 states.
The aircraft provides LaBov and his team the ability to meet with clients needs person, and on short notice (many times for less than what it would cost to fly commercial). It also provides a competitive advantage for LaBov in winning new business. In these tough economic times, LaBov & Beyond is going like gangbusters, reaching over $70 million in billings.
Having a business jet also allows LaBov to recruit top talent, promising new employees that they’ll work for blue-chip clients and still be home in time for dinner with their families.
Tags: Business Jet, Citation CJ1, Productivity
This story appears to have complete inaccuracies. It seems the jet cost almost 5 million.
The jet was purchased out of state by a company Labov “created” to get out of paying Indiana tax on the plane (perhaps cheating tax payers).
The company (Labov, not the shell company that owns the plane) has approximately 30 employees.
Is Labov going like gangbusters? Perhaps not. Just a year ago the company had over 50 emloyees.
The plane cost hundreds of thousands of dollars a year, additionally to pilots on salary.
As Labov billable hours continue to drastically decline, it is rumored that several shareholders are urging Barry Labov to sell the plane. However, the used plane market is full of companies wanting, needing to take a loss on the sale of their plane just to stop the hemorrhaging.
Thank you for your comment. Most of this information for this blog post was taken from an article that appeared recently in Investors Business Daily newspaper. I will do more investigating and contact Labov for their comment.
Regards, Rocco Cipriano
Hey Rocco Cipriano thanks for telling the truth..