LaGuardia cuts General Aviation Slots

Business Jet Traveler » October 2008
Wednesday, October 1, 2008 - 5:00am

The FAA has reduced from six to three the number of hourly slots available to general aviation at New York LaGuardia Airport. Ed Bolen, president and CEO of the National Business Aviation Association, contends that the FAA is focusing on operational limitations at the airport instead of on ways to increase its capacity. "Although general aviation does not contribute to congestion at LaGuardia...the FAA seems to be most interested in adopting measures to limit operations for all aviation segments at this and other New York City airports," he said. The National Air Transportation Association pointed out that business jet operators barely contribute to the airport's congestion.

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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