ExecuJet Introduces Concierge Service

Business Jet Traveler » December 2007
Saturday, December 1, 2007 - 4:00am

Zurich-based ExecuJet Europe has launched a "personal concierge" service for owners of business jets it manages. The service-designed to handle all travel needs with a "one call does it all" approach-makes available as many as four dedicated dispatchers who can supply 24/7 support. The company manages nearly 100 business jets, offers on-demand charter and runs three FBOs that provide ground-support operations.

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““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 ”

-David Yermack