““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 ”
Berlin Tempelhof Airport appears doomed
A last-ditch referendum effort by Berlin Tempelhof Airport failed and the airport will almost certainly close October 31. Some 60 percent of voters favored keeping the downtown airport open, but they represented only 21 percent of the city's electors, short of the required 25 percent. The German Business Aviation Association is appealing. The future of Tempelhof, barely 10 minutes from the heart of the German capital, has been in doubt since work started in 2006 on Berlin Brandenburg International Airport, about 13 miles southeast of the city.