““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 ”
Cutter Unveils Hangar at Phoenix International
Cutter Aviation, a full-service fixed-based operator (FBO) at eight major Southwest airports, recently opened a $4.5 million corporate aircraft hangar at Phoenix Sky Harbor International Airport. The 50,000-square-foot, climate-controlled facility is divided into three units and, with 28-foot door height, can accommodate aircraft as large as the Global XRS.