Shannon First To Offer European Pre-clearance

Business Jet Traveler » February 2009
Friday, January 23, 2009 - 4:00am

Ireland's Shannon Airport will become the first European airport with fast-track
pre-clearance for flights to the U.S. The Irish and U.S. governments signed an agreement last November that opened the way for pre-clearance to begin at Shannon this summer and in Dublin in 2010. The operation will include customs, immigration and agricultural clearance, as well as screening for radiological and nuclear threats, and will give passengers on commercial and private aircraft full clearance into any U.S. airport.

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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