Cannes Air Show on Track for 2009

Business Jet Traveler » February 2009
Sunday, February 1, 2009 - 4:00am

Organizers are making final preparations for the 3rd Cannes International General Aviation Exhibition, scheduled for April 30 through May 2. The show is one in a string of star-studded events on the French Côte d'Azur that includes the Cannes International Film Festival. The exhibition will represent a broad spectrum of European business aviation, from aircraft manufacturers to vendors and aviation support service providers. For additional information, call Samantha Chastang at +33-4-9308-0177.

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““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 ”

-David Yermack