““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 ”
Latin American Aviation Show Makes a Comeback
When organizers cancelled last year's Latin American Business Aviation Conference & Exhibition (LABACE) in São Paulo, Brazil, questions arose about the show's future. But the success of LABACE 2007, which ended a three-day run August 11, appeared to put those questions to rest. A record 6,041 attendees passed through the gate, according to Rui Thomaz de Aquino, president, Associaçao Brasileira de Aviaçao Geral, which now has responsibility for the show. LABACE also set records for numbers of exhibitors (71) and aircraft on display (35). And, Aquino noted, preliminary estimates are that aircraft manufacturer orders taken at the show exceeded $200 million, well over the forecast of about $150 million. To highlight the event, Brazilian manufacturer Embraer flew in its Phenom 100 for the VLJ's public debut.