““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 ”
House Aviation Subcommittee Probes Runway Safety
During a House aviation subcommittee hearing in February, DOT Inspector General Calvin Scovel noted that aviation stakeholders are expressing growing concern about the rise in the number of severe runway incidents. Scovel emphasized that the FAA and aviation users should implement FAA systems to alert controllers and pilots to potential runway incursions; improve runway signage and markings; reinvigorate the agency's program for improving runway safety; identify and correct root causes of runway incursions; and address air traffic controller issues, such as fatigue, through improved training.