Aero-News: Quote of the Day

ANN's Quote of the Day usually derives from current news, though we reserve the right to pick quotes out of history that have a bearing on the day's events and issues.

Reader suggestions and comments are welcome... and if particularly thought provoking or poignant, may themselves become future Quotes of the Day. Let us hear from you, folks!

Aero-News Quote of the Day

"In addition, over half of the asset purchases -— such as computers and other equipment —- that GAO examined had not been recorded in FAA’s property system, increasing the risk of loss or theft. As a result, FAA could not locate or document the location of over a third of the 692 items that GAO attempted to observe. These missing items totaled almost $300,000. In separate internal reviews, one FAA location identified over 800 items, totaling almost $2 million, that were lost or stolen in fiscal years 2001 through 2002. Given systemic weaknesses in FAA’s property controls, the actual amount of missing or stolen equipment FAA-wide could be much higher."

Source:  The GAO, in an illuminating (and, ultimately, expensive) investigation of FAA spending.

FMI: www.gao.gov/cgi-bin/getrpt?GAO-03-405