““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 ”
Canadian Fruits and Veggies Now Need Inspection
On March 1, the U.S. Department of Agriculture's new Animal and Plant Health Inspection Service (Aphis) rules take effect. The rules will eliminate the exemption from inspections for fruits and vegetables imported from Canada, and implement a $70.25 inspection fee for aircraft (including on-demand charter flights) entering the U.S. from Canada. There will also be a $5-per-passenger fee. Aphis justifies the rules as required "to prevent the introduction of plant pests and animal diseases into the U.S. via conventional pathways or through bio-terrorism, and to recover the cost of the needed inspections."