““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 ”
Jet Card Offers Free Hours
Boston-based Magellan Jets is offering two free hours of flight time with the purchase of a 25-hour jet card for the Hawker 800XP. The company, which does not own or operate aircraft, offers flights with 10 hours’ notice and does not bill for repositioning or assess fuel surcharges. Card membership includes standard catering and VIP ground transportation. The two-free-hours deal applies for a “limited time,” but no expiration date has been announced.