““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 ”
What our readers had to say
I hate the challenge of trying to figure out if tipping is appropriate and, if so, how much [“Tipping Points,” December 2013/January 2014]. I pay a lot of money to fly privately, so I believe that there should always be a no-tipping policy for the inflight folks.
I worked in the Middle East for four long years and flying VIPs was the perfect job—not because of the salaries but because of the tips. At the end of most trips with wealthy Arab passengers, it was common for the crew to get an envelope with $2,000 to $5,000 to split. However, nothing pays off like flying at home. Wealthy Americans are very down to earth and courteous and for an employee that is more rewarding than a big tip.
I always tip crewmembers when I take a charter flight ["Tipping Points," December 2013/January 2014]. I've encountered only one crewmember who felt uncomfortable accepting a tip, so I told him to donate it to his favorite charity. The typical crewmember doesn't make as much as most professionals in other industries and they are away from home a lot. I give gratuities in an envelope with a card and a handwritten thank you. Everyone seems to greatly appreciate the thank-you card and it seems classy compared with handing someone a $100 bill.