NBAA Cancels and Cuts Back Shows

Business Jet Traveler » February 2009
Sunday, February 1, 2009 - 4:00am

With the worldwide economy still in decline, the National Business Aviation Association has canceled this year's Asian Business Aviation Conference & Exhibition (ABACE), which had been scheduled for February in Hong Kong. NBAA has also cut back its inaugural Light Business Airplane Conference from three days to two, March 13 to 14. In addition, the association has limited indoor exhibit sizes at the San Diego show to 20 by 20 feet and will reduce exhibit fees 20 percent and cut attendance fees 50 percent.

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““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 ”

-David Yermack