““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 ”
European Business Aviation Convention Breaks Records
The seventh European Business Aviation Convention and Exhibition, which took place in Geneva in May, broke all records, with attendance up 15 percent from the 2006 event to more than 11,000 and 354 exhibitors, an 18-percent increase. Orders inked at the show-firm and optional-had a total value of nearly $1.7 billion. The 2008 convention is scheduled for May 20 to 22, again at Geneva International Airport's Palexpo venue.