““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 operation launches in California
JetSuite is acting as a broker for Phenom 100 flights operated by Solana Beach, Calif.-based Air by Jet. Air by Jet is the second operator to begin using Embraer's Phenom 100 for charter; Kansas City-based Executive AirShare made the first Phenom 100 charter flight in April. JetSuite has ordered 50 Phenom 100s and has options on 50 more. It plans to take delivery of seven this year.