““CEOs go to their vacation homes just after companies report favorable news, and CEOs return to headquarters right before subsequent news is released. More good news is released when CEOs are back at work, and CEOs appear not to leave headquarters at all if a firm has adverse news to disclose. When CEOs are away from the office, stock prices behave quietly with sharply lower volatility. Volatility increases immediately when CEOs return to work.” —David Yermack, a New York University finance professor, whose recently released study shows a correlation between when CEOs take their private jets on vacation and movements in their companies’ stock price ”
A Bizjet Traveler's Diary
“Within the next decade we’ll be flying people to Australia from New York in about two hours, developing spaceships that will cross continents outside the Earth’s atmosphere and then pop them back into the atmosphere. Then we’ll move on to much bigger commercial jets [traveling] at many times the speed of sound.”
November 3, 2026
5:32 AM—Still dark here in New York but I’d better get moving if I’m to see Boris in Moscow in two hours. Leaving my iWatch on Eastern Time, hoping that will help make today less confusing than yesterday.
7:58 AM—In Russia for brief early dinner meeting, but it’s scrambled eggs for me. Thank God for Kremlin Starbucks’s double espresso.
10:02 AM—Back in Manhattan with a few minutes to catch up on news on Google Glass. Then a quick hop to Australia.
12:15 PM—Arrived in Sydney, where they tell me it’s spring. No matter; I’ll be gone in 15 minutes.
12:31 PM—All aboard for Paris for a quick huddle with one of our VPs and perhaps a croissant.
2:39 PM—No time for croissant but maybe I can grab sushi in Japan.
4:41 PM—Excellent temaki at Tokyo airport. Now off to Massachusetts to meet my son.
6:40 PM—Arrived in Boston but no son—just a note: “Gone to Brazil. Back after dinner.” Should I try to catch up with him or wait here?
6:46 PM—Decided instead to surprise wife in California and splurged on Branson’s new supersonic. A little pricey at 60 bitcoins but it’ll get me to the coast in 23 minutes.
7:09 PM—Barely time to open peanuts bag before flight touched down in L.A. Unfortunately, iWatch tells me wife just left to meet me in Boston. Heading back so we can catch dinner before my next flight.