““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 ”
TV Producer, Writer Stephen Cannell Dies at 69
Writer and television and movie producer Stephen J. Cannell, who was
's February/March 2010 issue, passed away September 30. According to his family, Cannell, 69, was diagnosed with Stage 4 melanoma on Easter, and a day later was told that the cancer had spread to his brain.
Cannell-who owned a Learjet 55 and a Gulfstream III that he used for book tours and other travel-created, wrote and produced many popular television shows, including The Rockford Files, 21 Jump Street, The Commish, The A Team, Wiseguy and Tenspeed and Brownshoe. His latest Shane Scully mystery novel, The Prostitute's Ball, was released in October. Before he died, he completed another one, with the working title Vigilante, which is set for publication next fall.
"I don't want to be remembered as William Shakespeare or as the most venal talentless person who ever lived," Cannell said during his BJT interview. "When I'm gone, it's over. And people will make their own choices about me and hopefully what I've done is left great kids behind and a wife that's had a good life."
Cannell is survived by his wife Marcia, three children and three grandchildren.