““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 ”
Embraer Delivers First Phenom 100 Very Light Jet
Brazilian manufacturer Embraer delivered its first Phenom 100 very light jet on December 31 at the company's Sao Jose dos Campos headquarters. The five-passenger twinjet was then flown to the U.S. by new owners James and Elizabeth Frost of Houston. The couple are pilots who successfully completed the Phenom 100 training syllabus and who plan to use the Phenom for business and family travel.