Anyone else who's been checking the world map every day hoping that A Direct Approach will be there so you'll have a chance for Taking The Air Out to drop, only to be disappointed again and again since A Direct Approach never seems to spawn? Well, I can now inform you that this is not the quest you're looking for (thanks other Wowhead-users who commented on the other quests involved).
Instead, check for Unprofitable Ventures; A Direct Approach only pops up after you've picked up Unprofitable Ventures.
Now, once you picked up A Direct Approach, go to the quest area and see if there are any blue !-marks on the ground, offering the quest Waste Not. If there are, don't waste (yeah yeah, I know...) your time there any longer because in this case Taking The Air Out won't drop.
***Taking The Air Out up on EU servers October 12!***