ExcelAire's Long Island Terminal Gets TSA Approval

Business Jet Traveler » August 2008
Friday, August 1, 2008 - 5:00am

ExcelAire's new private jet terminal at Long Island [N.Y.] MacArthur Airport has received TSA approval as a gateway for travel to Ronald Reagan Washington National Airport. Facilities at 20 other airports also have such approval. The authorization for ExcelAire came after it passed TSA security checks and implemented special security procedures.

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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