““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 ”
Brazil Hosts Annual Latin American Confab
The Latin American business aviation market is delivering on its promise, with Brazil leading the charge. The eighth annual Latin American Business Aviation Conference and Exhibition (LABACE) will be held at Congonhas Airport in São Paulo, Brazil, from August 11 to 13. Last year’s event attracted more than 14,000 visitors and a record-setting number of static-display aircraft (56) and exhibitors (150). This year looks to deliver similar numbers.
Coinciding with LABACE will be several related forums. Bombardier’s Safety Standdown Latin America, now in its second year, will be held August 10 at the Grand Hyatt São Paulo Hotel (www.safetystanddown.com). Aeropodium’s “Business Aviation in Latin America: A Vision for the Future,” an August 12 summit, will explore business aviation developments in the region.
For information, visit www.abag.org.br/labace2011.–Annmarie Yannaco