““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 ”
Bizav's big bash
Looking to get a jet card, buy a new or used jet, find the coolest cabin amenities, set up a flight department, talk to aviation lenders and insurance agents or learn the latest news about the industry as it takes place? The National Business Aviation Association's annual Convention and Exhibition-which rolls into Orlando, Fla., October 6 to 8-is the place to go. This year, the event returns to the Orange County Convention Center, which also hosted it in 2006. Last year's convention at the Georgia World Congress Center in Atlanta attracted 1,152 exhibitors, 32,051 visitors and 106 aircraft on static display. NBAA expects an even bigger event this year.
In addition to seminars devoted to operations, maintenance, finance and professional development and a static display of aircraft at Orlando Executive Airport, the 2008 event will offer plenty of social opportunities to help attendees get business done. Among those functions are the annual gala, set for October 7 and featuring the music of the Blues Brothers; and the Chairman's Charity Classic Golf Tournament, to be held at ChampionsGate on October 4.
Last year, NBAA began a tradition of giving back to the communities that host its events, enlisting 500 volunteers in a one-day effort to build an aviation-themed playground at Atlanta's Fain Elementary School. This year, the association is partnering with the fixed-base operator BBA/Signature Flight Support and KaBOOM! (a national organization that helps communities and businesses to build safe and accessible playgrounds) to complete a similar project in Orlando on October 4.
If you can't make it to the convention, visit www.AINonline.com and AINtv.com for all the news from the show.