CFO keeps the money on the fly for airport operations.

The Business Journal checks in occasionally with Los Angeles executives and asks them to describe their daily routine. This week, Karl Pan, CFO of Los Angeles World Airports, the organization the runs Los Angeles International and other area airports, discusses his duties.

I wake up at 5:10 in the morning and leave the house between 5:50 and 6 a.m. I live in the Pasadena area, specifically, in San Marino. When I drive, I listen to the radio. I usually listen to KCRW or KPCC.

I get to my office between 6:35 and 6:50 a.m. The waffle isn't that bad in the morning. The first thing I do is turn on the computer. LAWA has a program that compiles airport and airline news so I check that. Then I scan the Wall Street Journal to see what's going on in the financial world. Then I check my e-mail. E-mails take a bit of time as I'm responding to questions and sending out queries.

My office is in the airport but not in the terminal. When you drive into the airport, there's a tall, rectangular shape building right behind the fit LAX figures. My office is on the fourth floor. I can see airplanes landing on the north runways. It doesn't get noisy because the building is well insulated.

I get financial resources over to the people that need them. It's about prioritization. Essentially, I make sure the basic maintenance of airport operations goes as planned. But also, if emergencies come up I make sure that there are funds available. Thankfully, not many pop up, but we position ourselves with a reasonable flexibility if so. We've learned our lesson from 9/11.

By 8 or 9, on most days a series of meetings begin. The meetings are with my staff, managers, and LAWA staff. We discuss a variety of financial issues, accounts receivable. Fun stuff. On a recent morning, one of the meetings was about the current analysis on cash flow. LAX borrows money and we get a financial rating. Our ratings are good and I want to keep them that way. So we analyze the ratings to make sure they're upheld. Then I spent an hour to see the cash flow trends. The other meeting was to talk with my manager of account operations and LAWA staff members, to see how well we're collecting money. For instance, whether the customers of LAX are paying on lime. This ranges from small issues to big ones, from food vendors paying their rent, to the airlines staying current on their fees.

Everything goes to making sure the financial condition here remains strong and we have the wherewithal to do what we need to do. We also cover Ontario, Van Nuys, and Palmdale, but because of the size of LAX, most of our attention is focused there. LAX is seven times the size of Ontario in terms of revenue. Van Nuys is about one-third the size of Ontario, and Palmdale is minuscule in comparison.

I usually bring my own lunch. It's faster and more efficient to eat at my desk and just continue.

Apart from meetings, there's a lot of analytical work and strategic sessions. We talk about broad strategy, tactical plans, and plan actions consistent with the strategy. From looking at financial data, statistics, and making sure the trends are good. It's like dealing with your own personal finances: You want to manage the money coming in so you can pay your bills.

I look at the history to plan for the future. For example, we look at the number of passengers to get an understanding of the passenger count. If the number is going up, then clearly that will change the revenue of the airport. We make financial models to consider the effects on the airport, how they can remain structurally and technologically prepared for any changes.

I generally leave the office between 5:30 and 6:30 p.m. The trip back is much longer and I get an earful of NPR or KPCC. Usually I catch "All Things Considered" or Terry Gross's "Fresh Air".

On weekdays I never watch TV. No time. I talk with my wife and kids about their day. We have dinner together and by the time we're done it'll be 8 p.m. By then, I'm monosyllabic. I try to get to bed by 9, but I'm almost never there until 9:30. On the weekends I like to watch tennis. I play in San Marino where there are great tennis courts in the park. Otherwise, I spend time with the family and act as a chauffer for the kids.

--As told to Jade Takahashi

Karl Pan

Chief Financial Officer Los Angeles World Airports

Background: Formerly vice president at Chemical Bank in New York, executive vice president of Bank of Hawaii in Honolulu, and senior marketing officer at Bank of China in L.A.

Hobbies: Racquet sports (tennis, badminton, table tennis)

Education: Attended high school in Texas, finished his undergraduate at University of Texas and received his M.B.A. in finance from UCLA