““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 ”
BJT Wins 15th Major Editorial Award
BJT editor Jeff Burger has won a Silver Award in the annual Folio: Eddies editorial competition for his article “Is the Fractional Business Model Broken?”. The piece, which appeared in the February/March 2011 issue, was recognized in the Best Single Article in a Transportation/Travel Magazine category. Burger received his award at a banquet in New York City on November 1. Folio:’s annual awards program–the largest and most inclusive of its kind in the industry–is open to all business and consumer magazines in the U.S. This year’s contest attracted more than 2,000 entries. This is BJT's 15th major editorial award since 2005.