““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 ”
Upfront: October 2013
As editor Jeff Burger notes in his piece on BJT’s first decade (see BJT's First Ten Years, Oct./Nov. 2013), we work hard here to make each issue of the magazine better than the last. I think you’ll find ample evidence of that in this 10th anniversary edition—our biggest regular issue in nearly five years—which includes revamped contents pages and many special features.
While the magazine keeps changing, one thing that remains constant is how privileged I feel to work here. I can remember sitting in on Jeff’s riveting interview with James Carville shortly after I joined AIN Publications full-time in 2007 and dreaming about someday working directly with him and the rest of the BJT editorial staff. At the time it didn’t seem possible, but here I am. I am so grateful for the expertise, patience and unwavering commitment of everyone on our team.
I’m just as appreciative of our relationship with our subscribers. Nearly 1,100 of you took the time to fill out our 2013 Readers’ Choice Survey (click here for survey results). Meanwhile, we’ve noticed a dramatic uptick in the number of you who email us about the magazine or post comments on our website. You send kudos about the stories you like best and also don’t hesitate to point out our mistakes and share your outrage about articles you disagree with. All of this feedback is terrific and gratefully received. As the old saying goes: friend or foe, we want to know! Thank you for your readership over the last 10 years. We look forward to serving you for another 10, and beyond.