““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 ”
Catering Firm Bringing Chefs Aboard Jets
Chef in the Sky, a new service from London-based caterer Alison Price On Air, provides personal chefs aboard business jet flights. Customers can choose from a preselected menu with paired wines or design their own multicourse feasts. Alison Price offers the service on all private heavy jet flights departing from London. Charges depend on the time involved, the complexity of the menu and whether a chef is required for a return flight.