““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 ”
The French Riviera's Triple Bill
The French Riviera seems likely to be a popular destination this spring, with the famous Cannes International Film Festival set for May 11 to 22 and the Formula 1 Grand Prix in the streets of neighboring Monaco scheduled for May 24. Then comes the Cannes Airshow, a business and general aviation event, from June 9 through 11. Aéroport International de Cannes-Mandelieu will host this show, where more than 50 for-sale preowned aircraft will be on display.
For information, visit www.festival-cannes.org, www.monaco-grand-prix.com and www.cannesairshow.com.