““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 ”
ASA Group Flight Handling Expands Asia/Pacific Service
The ASA Group, a specialist in flight-handling services in the Asia/Pacific region, has announced a partnership to develop aircraft charter services with London firm Avolus. The initial effort will focus on flights between the United Kingdom and Asia. ASA has been established in Southeast Asia for more than two decades. Avolus provides private travel services across a broad spectrum of sectors, including private jets, helicopters, yachts and limousines.