European Airports Tighten Business Aviation Security

Business Jet Traveler » December 2006
Friday, December 1, 2006 - 4:00am

Business aviation, long exempt from the government security rules applied to airlines, will begin finding things different, and perhaps more onerous, at certain European airports. Some, particularly in Denmark and Germany, are already requiring aircrews to be present at security checkpoints while passengers undergo screening, so that the crews can declare that they have no objection to items passengers are carrying aboard, even in hold baggage.

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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