1 9 6 4 ▁by ▁being ▁one ▁of ▁the ▁found ing ▁members ▁on ▁the ▁board ▁of ▁direct ors ▁of ▁Executive ▁Jet ▁A viation ▁( E J A ), ▁along ▁with ▁Air ▁Force ▁gener als ▁Curt is ▁E . ▁Le May ▁and ▁Paul ▁Tib bet ts , ▁and ▁entertain ers ▁James ▁Stewart ▁and ▁Arthur ▁God f rey , ▁with ▁retired ▁Air ▁Force ▁Brig ad ier ▁General ▁Ol bert ▁F . ▁" D ick " ▁L ass iter ▁as ▁president ▁and ▁chairman ▁of ▁the ▁board . ▁Short ly ▁after ▁incorpor ation ▁in ▁Ohio , ▁Sund l un ▁arranged ▁finan cing ▁for ▁E J A ▁by ▁engineering ▁a ▁stock ▁purchase ▁by ▁American ▁Cont ract ▁Company ▁of ▁Wil ming ton , ▁Del aware , ▁a ▁wh olly ▁owned ▁subs idi ary ▁of ▁the ▁Pennsylvania ▁Rail road . ▁E J A ▁initially ▁began ▁operations ▁in ▁ 1 9 6 4 ▁with ▁a ▁fleet ▁of ▁ten ▁Lear jet ▁ 2 3 ▁aircraft . ▁ ▁Several ▁years ▁later , ▁a ▁number ▁of ▁financial ▁and ▁legal ▁impro p ri eties ▁were ▁made ▁by ▁L ass iter ▁including ▁the ▁purchase ▁of ▁Bo eing ▁ 7 0 7 ▁and ▁Bo eing ▁ 7 2 7 ▁aircraft ▁in ▁viol ation ▁of ▁federal ▁law ▁prohib iting ▁rail road ▁ownership ▁of ▁large ▁aircraft . ▁An ▁order ▁by ▁the ▁Civil ▁Aer onaut ics ▁Board ▁for ▁E J A ▁to ▁either ▁dispose ▁of ▁the ▁large ▁air plan es ▁or ▁for ▁the ▁P enn ▁Central ▁Rail road ▁to ▁div est ▁its ▁$ 2 2 ▁million ▁invest ment ▁led ▁to