Business Jet Traveler » December 2006

December 1, 2006
Jet Aviation, based in Basel, Switzerland, has contracted with internationally known designer Philippe Starck to fashion an executive/VIP interior for a customer's Airbus A330-200. The cabin will be fitted with a master bedroom and dressing room, lounge, conference/dining room and private salon. An aft section will be configured in business class and equipped with a galley.

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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