Related Words

Harbor Pilot: See 'pilot.'

Pilot: A person licensed to conduct a ship into and out of a port. Pilots (or 'harbor pilots), familiar with the harbor's traffic, tides, currents, and channels, generally are employed to conduct s . . . View Full Definition

Safe Harbor Lease: A lease to transfer tax benefits of ownership (depreciation and debt tax shield) from the lessee, if the lessee could not use them, to a lessor that could use them.

Safe Harbor Regulations: Guidelines regulated by the Department of Labor, which, when fully complied with, may reduce or limit the liability of a plan fiduciary.

Student Pilot: A pilot who is training for a sport pilot or private pilot certificate, either before or after the first solo. A sport pilot student pilot must obtain a student pilot certificate through the . . . View Full Definition

Safe Harbor: Often used in risk arbitrage as a form of shark repellent. A target company acquires a business so onerously regulated that it makes the target less attractive, giving it, in effect, a safe harbor.

Sport Pilot: Special FAA certification enabling 'budget' pilotry: see LIGHT SPORT AIRCRAFT and LSA feature.

Pilot Light: A small, continuous flame (in a hot water heater, boiler, or furnace) that ignites gas or oil burners when needed.

Pilot Balloon: A small balloon whose ascent is used to determine the direction and speed of low level atmospheric winds. Also known as a pibal.

Pilot Hole: A starting hole for large drills to serve as a guide, reduce the resistance and aid in maintaining the accuracy of the larger hole. Also called a lead hole.