““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 ”
NTSB Faults FAA's Inaction on Pilot Fatigue
The National Transportation Safety Board has called the FAA's response "unacceptable" to four out of six NTSB safety recommendations addressing fatigue and duty-time limitations. "The Safety Board is very concerned about reducing accidents and incidents caused by human fatigue," NTSB chairman Mark Rosenker said, adding that fatigue was a probable cause or contributing factor in numerous accidents. Among the recommendations: requiring that training, check flights, ferry and repositioning flights be included in a pilot's total revenue time; and ensuring that flight and duty-time limitations take into consideration research findings about fatigue and sleep. Current policy is based on a 2001 FAA notice that calls for pilots to have eight hours of rest in any 24-hour period that includes flight time.