““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 ”
Oregon’s Oval Office
Ever wonder what it would be like to occupy the Oval Office? Now you can find out–sort of–without even having to campaign. In its new terminal, Rogue Valley International Airport in Medford, Ore., has created a replica of the president’s Oval Office, which it hopes to rent out to generate revenue. The faux chief executive’s office, which seats about 20 people, features a copy of the famous Resolute desk and “windows” that display images of the White House Rose Garden. For a unique board meeting or even a small wedding reception, prospective commanders-in-chief can rent the room for $75 for four hours. A 15-minute photo session costs $25.