““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 ”
Boats and more boats
In the market for a boat? The 25th annual Palm Beach [Fla.] International Boat Show, to be held March 25 to 28, will showcase more than $350 million worth of watercraft-everything from powerboats, bowriders and personal vessels to yachts longer than 100 feet.
Buyers are in a good position this year as plenty of bargains are available. Financing representatives will be on hand for those who want to close a deal.
The closest airport for those flying in is Palm Beach International, three miles west of the city. Visitors who want to avoid airline traffic should consider North Palm Beach County General Aviation Airport, which is 12 miles away. The latter airport has noise-abatement monitoring and some aircraft weight restrictions.
For more information, visit www.showmanagement.com. For a calendar of other notable events, see '