““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 ”
HeliFlite Announces Promotion for Card Program
Throughout February, helicopter-services company HeliFlite is offering a "Half HeliCard" (12.5 hours) as an introduction to its 25-hour HeliCard program. The Newark, N.J.-based company operates within a 250-mile radius of New York City and services the Northeast from Maryland to Maine. The new card requires no long-term commitment.