““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 ”
NBAA 2012 Kicks Off in Orlando
More than 25,000 attendees and 1,000 exhibitors are expected at the 65th annual National Business Aviation Association convention, which runs Tuesday, October 28 through Thursday, November 1 in Orlando, Fla. There will be about 100 business aircraft on static display at the show, including about a dozen turboprops and light jets parked just outside the convention center. The remainder of the aircraft, including several bizliners, will be at Orlando Executive Airport. The show’s opening general session on Tuesday will include presentations by FAA Acting Administrator Michael Huerta and Rep. John Mica (R-Fla.). A second general session on Wednesday will feature political commentators Mary Matalin and BJT cover subject James Carville. Our sister publication NBAA Convention News will be publishing all the news from the show, while AINtv will offer video reports and expert analysis.