““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 ”
Eight Charter Operators Earn High Marks
Jets.com-an online charter broker that allows customers to bid on flights-has bestowed its latest Circle of Excellence awards on eight charter operators, based solely on surveys its customers complete after each flight. Survey criteria included condition and cleanliness of the aircraft, amenities, crew performance, luggage handling and flight readiness.
While customers ranked 167 charter operators, only eight achieved a perfect score across the board after at least five rated trips taken between August and December 2006.
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