Business Jet Traveler » August 2013

August 1, 2013
“This is a relationship-based business, with some of the top people in the world. They don’t want to call some customer rep; they want a personal relationship.” (Photo: Chad Slattery)
Aerospace engineer Marc Foulkrod had no intention of getting involved in marketing when he was tapped to help a fledgling aircraft charter/management firm called Avjet in 1981. After college, he served as a performance-engineering specialist for Boeing and McDonnell Douglas before joining cargo carrier Flying Tigers.

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Quote/Unquote

““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 ”

-David Yermack