““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 ”
Executive AirShare Announces Phenom 100 Fractional Pricing
Executive AirShare-the only fractional aircraft ownership provider in North America to offer Embraer's Phenom 100 and 300 very light jets-has announced its fractional pricing structure for the Phenom 100. Embraer began deliveries on December 31 and the first of the five-passenger twinjets is expected to go into service with Executive AirShare in March of this year. The cost of fractional ownership will range from $299,500 for a 1/16th share to $1.18 million for a quarter share. Quarter-share owners are entitled to use of the aircraft for 80 days and 200 flight hours per year. Holders of a 1/16th share will be entitled to 20 days and 50 flight hours annually. Executive AirShare has placed firm orders for 44 Phenom 100s, with options on 12 more.