““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 ”
Phenom 100 Launch Customers Complete Round-the-World Flight
Jim and Betsy Frost, who took delivery of the first
Phenom 100 in December 2008, completed another first on October 24-the round-the-world flight in the aircraft. The trip covered 22 countries in 56 days and spanned 31,462 nautical miles. The Frosts spent 98 hours aloft and made 42 stops. They reported these highlights: best hotel stay, Amanpuri, Phuket; favorite stop, Palau, Micronesia; most unusual stop, Kangaroo Island, Australia; best meal, Terasa U Zlatestudne, Prague; best FBO, Nagoya, Japan; best surprise, handling in Russia and India, which "far surpassed" expectations; best value, Best Western in Kodiak, Alaska.