““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 ”
Airbus Business Unit to Focus on Corporate Jets
Airbus has announced creation of Airbus Corporate Jets and will invest more resources in the business unit, including the expansion of its local presence in key markets. The unit brings together commercial, program and support activities and has a direct link to the company’s Airbus Corporate Jet Centre cabin-outfitting subsidiary. “With almost 200 Airbus corporate jet sales to date, we now serve a growing and increasingly important community, and combining all the various aspects of this business will help us to serve our customers better while paving the way for further expansion,” said John Leahy, Airbus’ COO for customers.