““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 ”
Hawker Beechcraft Introduces Premier II
Hawker Beechcraft has a program well under way to produce the Premier II update to the Premier I that will climb faster, fly farther and faster, and carry a bigger payload, according to the company. The Premier II will feature new 3,050-pound-thrust Williams International engines and performance-enhancing winglets. With four passengers and full fuel, it will fly 1,500 nautical miles, about 350 nautical miles farther than the original. The model will be priced at $7.365 million in 2010 dollars, compared with $6.25 million in 2008 dollars for the Premier I. The Wichita-based company claims firm orders for 40 aircraft, about evenly split between U.S. and European markets.