““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 ”
Gulfstream May Launch G250 at NBAA/Orlando
Two weeks before Gulfstream Aerospace unveiled the G650 last March, a J.P. Morgan report predicted that the Savannah, Ga.-based aircraft manufacturer would launch two models this year. It now appears the forecast was right, as introduction of the G250 (a successor to the super-midsize G200) is reportedly nearing and could come at the National Business Aviation Association Convention (October 3 to 6, in Orlando, Fla.). Industry observers expect the G250 to address some of the G200's shortcomings, namely range and runway performance, by incorporating a redesigned wing leading edge, complete with a bleed-air anti-icing system and a new T-tail.