Business Jet Traveler » December 2006

December 1, 2006
Pete Dye Golf Club Hole No. 4
Our series on America's best golf courses continues with a look at the three best modern courses in the Southeastern U.S., as determined by Golfweek magazine's handpicked panel of 385 course raters. The raters, who are students of architecture, attend national workshops and each evaluate 15 to 20 courses per year.

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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