GE's CEO Bill Woodburn Says More Are Wiling to Pay for Privately Managed Security

Airline passengers and sports fans in the US would be willing to pay more for privately managed security at airports and stadiums, according to Bill Woodburn, CEO of General Electric Co.

Woodburn reportedly also said that governments are moving towards consumers paying, away from homeland security projects. He reportedly thinks that customers would be willing to pay an additional USD3 on air fares for security facilities. Many Asian airports already charge from USD10 in airport taxes, which goes towards funding security. Woodburn thinks this model better than governments trying to keep up to date on technology and funding it through the tax base, Reuters reported.