No Use for User Fees, Say Gen Av Advocates

Business Jet Traveler » February 2007
Thursday, February 1, 2007 - 4:00am

Opposition to user fees for general aviation aircraft remains on the front burner this year for the industry's advocacy groups. Most were hoping that the power shift in the House of Representatives might create less support for the proposed fees, which have been strongly opposed by the National Business Aviation Association, the National Air Transport Association and the Aircraft Owners and Pilots Association. On the other side of the issue are the nation's airlines, which claim general aviation does not pay its share for use of the country's aviation infrastructure. Meanwhile, observers will be watching the FAA reauthorization bill now taking shape; NBAA president Ed Bolen expects the bill to call for user fees.

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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