The Private Jet Industry's Initial Descent?

Companies including Gulfstream and NetJets have been riding the stock market boom but a market crash could shoot them down, too

David MacNeil, chief executive of MacNeil Automotive Products in Downers Grove, Ill., can't imagine doing business without a Cessna handy. "All the faxes and telegraphs and text messages and e-mails are fine and well, but when you want to put a significant deal together it has to be done in person," he says. Face time is such a priority to MacNeil that he upgrades his jet as often as most managers do their PCs: Since 2003, he's owned a Cessna Citation CJ1 and CJ2, currently owns a $7 million CJ2+, and plans to re-up to a CJ3 next year.

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