““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 ”
Business Jet Facility Debuts at Moscow Airport
Moscow Sheremetievo Airport’s new Terminal A–a dedicated, 29,000-square-foot business jet facility, incorporates departure and arrival halls, VIP lounges, a duty-free shop, a conference room and a bar. A 161,500-square-foot hangar and nearly 248,000 square feet of ramp space adjoin the terminal. Avia-Group, which operates the FBO, offers flight-planning services (including flight permits in Russia and other countries), aircraft handling, traveler care, hangar storage and de-icing.