““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 ”
Adam Scott Back on His Game
Australian golfer Adam Scott–the subject of BJT's October/November 2008 cover story–tied for second place in the 2011 Masters Tournament in Augusta, Ga., in April. This was his best finish ever in a major championship event.
Though Scott sold his brand new Gulfstream G450 earlier this year before taking delivery, he continues to fly privately via NetJets on either a Citation Excel or Citation X, depending on distance. He also remains involved in children's charities. The Adam Scott Foundation, which he created in 2005, offers opportunities for underprivileged and disadvantaged children in Australia and Asia. The foundation recently rolled out a program that grants specialized iPads to children suffering from autism.–Jennifer English