““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 ”
Next-Generation Learjet Will Be Bigger, Faster
Bombardier's next Learjet will be bigger and faster than any of its forebears, the
company has announced. The 10-seat, stand-up-cabin Learjet NXT will fill the market gap between the midsize Learjet 60XR and super-midsize Challenger 300.
The Canadian airframer is working on the twinjet "with a group of international
collaborators," though a spokesperson said "most of the [NXT's] principal activities will take place at Learjet's facility in Wichita, including final assembly, interior completions, aircraft delivery, contracts, sales and flight test." No suppliers have yet been named.
Preliminary performance data include a Mach 0.82 maximum cruise speed and 3,000-nm range. Bombardier started offering the airplane to customers in September and said it has received more than 65 letters of intent to buy it. The aircraft will be priced somewhere between the $13.3 million Learjet 60XR and $21 million Challenger 300.
A "public unveiling" of the model is scheduled for next October.