““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 ”
New York Fashion Week
Independent and branded fashion shows and champagne-soaked events will sprout up all over Manhattan September 4–11 to celebrate the international clothing collections for spring. The biggest, most prestigious of them all remains Mercedes-Benz Fashion Week (mbfashionweek.com) at Lincoln Center. The artistry, beauty and emotion conveyed in the span of a 20-minute catwalk can be stunning. If you miss the New York shows, just jump on a flight to one of the other major fashion events happening shortly afterward in London (September 12–16), Milan, Italy (September 17–23) and Sydney, Australia (September 24–27). The camera flashes can be blinding, so don’t forget your sunglasses.