““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 ”
Going Places: A Feast for Auto Aficionados
If you collect classic cars or just enjoy viewing them, mark your calendar for January 11 to 18. That's when Barrett-Jackson will host its 38th annual car collector show in Scottsdale, Ariz. Last year's event drew a remarkable attendance-280,000 people.
The highlight of the annual "automotive lifestyle" show is an auction, which last year featured 1,163 cars. In addition to high-end automobiles such as Corvettes, Rolls-Royces and Bentleys, visitors will find pre-World War II gems; concept, custom-built and muscle cars; and rebuilt classics outfitted with the latest amenities.
A special treat awaits aviation enthusiasts at this year's event: a Ford Tri-Motor, one of 199 built, will be on the block. The 1929 model survived the attack on Pearl Harbor. It returned to service shortly thereafter and was recently restored to its original specifications.
The most convenient airport for business jet travelers is Scottsdale Airport, located just north of the city. The airport, which has three FBOs, offers an 8,249-foot runway.