““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 ”
Charter Company Takes Root in Hong Kong
Anjet has opened an office in Hong Kong to complement its California-based operations. The charter company will cater to the private aviation needs of clients in China, South Korea, Singapore, India, the South Pacific, Australia, New Zealand and the surrounding areas. All Hong Kong-based representatives of Anjet Asia will be fluent in English, Cantonese and Mandarin. According to the company, the decision to launch a Hong Kong-based operation was based on the fast-growing use of business jets in Asia and the softening of regulations throughout China.