““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 ”
Alphabets Object To Portions of Helo NPRM
Major industry groups are expressing their displeasure with key sections of the notice of proposed rulemaking (NPRM) governing helicopter EMS operations. In formal comments filed last week with the FAA, they voiced objection to portions of the rule mandating helicopter terrain awareness and warning systems (HTaws), IFR weather reporting and operational control centers. The groups-which include the Helicopter Association International (HAI), the Association of Air Medical Services and the National EMS Pilots Association (Nemspa)-want night-vision goggles (NVGs) as an alternate means of compliance to the HTaws mandate. Nemspa noted that data on the benefit of HTaws was thin, while HAI maintained that NVGs are the best way to avoid terrain accidents. HAI maintained that the new IFR weather reporting standards, which disallow the use of area forecasts, would have the unintended consequence of encouraging VFR flight into MVFR. The rule would also mandate Part 121-style operation control centers for operators with 10 or more helicopters. HAI found this 'incompatible' with Part 135 operations.