““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 ”
BJT readers–who represent one of the highest-net-worth magazine audiences anywhere–clearly have the means to contribute to a better world. To help you do that, we’re spotlighting one deserving organization per issue. All of them have received a four-star overall rating from Charity Navigator (charitynavigator.org), which evaluates philanthropic institutions based on their finances, accountability and transparency.
Alex’s Lemonade Stand Foundation (alexslemonade.org) raises money and awareness to combat childhood cancer–with an emphasis on research into new treatments and cures–and encourages others to get involved and make a difference. ALSF was created in 2005 by the parents of four-year-old Alexandra Scott, who suffered from neuroblastoma and said she wanted to create a lemonade stand to raise money for doctors to allow them to “help other kids, like they helped me.” Scott passed away at age eight after having inspired others worldwide to operate their own Alex’s Lemonade Stands. ALSF has raised more than $60 million and helped to fund approximately 275 cutting-edge research projects. It has also created a travel program to support families of children receiving treatment and developed resources to aid people touched by pediatric cancer.