““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 ”
Charter Service Debuts in India
Invision Air has launched a charter service in India, using a pair of Embraer Phenom 100 very light jets. The company says it has four more Phenom 100s on order as well as six Phenom 300 light jets, the first of which is to be delivered in the middle of this year. The company bills itself as an “entry-level” business jet service and claims its flights cost “only two to four times last-minute business-class fares.” Invision Air–which plans to offer jet cards and a program for aircraft owners in addition to charter–is part of the 17-year-old Invision Group, which is active in the telecom and marine and aviation safety industries in India.