Giving Back

Business Jet Traveler » October 2013
Direct Relief aids people affected by poverty, natural disaster and civil unrest.
Direct Relief aids people affected by poverty, natural disaster and civil unrest.
Thursday, October 3, 2013 - 9:30pm

BJT readers—who represent one of the highest-net-worth magazine audiences anywhere—clearly have the means to contribute to a better world. To help you do that, we’re spotlighting one deserving organization per issue. All of them have received a four-star overall rating from Charity Navigator (charitynavigator.org), which evaluates philanthropic institutions based on their finances, accountability and transparency.

Direct Relief (directrelief.org), which was founded in 1948, is a nonprofit, nonpartisan organization dedicated to improving the health and lives of people affected by poverty, natural disaster and civil unrest. The charity brings critically needed and specifically requested medicines, supplies and resources to community-based groups in more than 140 countries, including the United States. Direct Relief provides services to people in rural areas who lack basic healthcare while focusing on disease prevention and treatment, maternal and child health and emergency preparedness and response. The charity—which has supplied more than $1.4 billion in aid since 2000—consistently receives extraordinary rankings from independent organizations for its efficient management and use of donations.

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““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