““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 ”
Oxfordjet Partners with MasterCard
Business aviation services provider Oxfordjet has signed a three-year exclusive agreement to offer bespoke flight solutions within Europe to users of the MasterCard World Elite credit card. The London-based Oxfordjet will provide holders of the card with quotes for charter flights that are tailored to their individual needs and will act as a one-stop shop, coordinating every aspect of trips, including ground transportation. World Elite, which was recently rebranded from World Signia, is MasterCard’s premier offering and provides a suite of VIP benefits.