Bizav Reps to Rejoin TSA Panel

BJT Waypoints
Bizav Reps to Rejoin TSA Panel
Thursday, December 8, 2011 - 9:30pm

The Obama Administration has notified the National Business Aviation Association that it will continue to have a seat on the Transportation Security Administration’s Aviation Security Advisory Committee (ASAC), along with 24 other industry groups. “In previous administrations, TSA officials have valued ASAC in helping address a number of general aviation security issues,” said NBAA vice president for safety, security and regulation Doug Carr. “We are pleased that the current leadership at the TSA and [the Department of Homeland Security] intends to continue including a business aviation representative on the ASAC, and we are confident that federal security officials will benefit from the group’s expertise and experience.”

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““CEOs go to their vacation homes just after companies report favorable news, and CEOs return to headquarters right before subsequent news is released. More good news is released when CEOs are back at work, and CEOs appear not to leave headquarters at all if a firm has adverse news to disclose. When CEOs are away from the office, stock prices behave quietly with sharply lower volatility. Volatility increases immediately when CEOs return to work.” —David Yermack, a New York University finance professor, whose recently released study shows a correlation between when CEOs take their private jets on vacation and movements in their companies’ stock price ”

-David Yermack