““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 ”
BJT Around the World: John Travolta at EBACE 2013
We caught up with BJT cover subject John Travolta at the European Business Aviation Conference and Exhibition (EBACE) in Geneva. Travolta, a brand ambassador for the airframer, has been working as a test pilot to support its efforts to get the super-midsized Challenger 350 certified. The company has issued a video of a test flight that Travolta took in the model in the U.S.
“I felt like an astronaut,” he told the crowd at a packed Bombardier booth in Geneva. “We did full performance takeoffs and climbed straight to 41,000 feet. This aircraft is definitely going to break records. It’s like a homesick angel.”
Stressing that he hadn’t joined the Bombardier flight test crew as a PR stunt, Travolta called the Challenger “a really pilot-friendly airplane” and added, “I want one.” He also mentioned that his Hollywood friends frequently ask him for advice on the ins and outs of private aviation. We were happy to learn where he points them.
For more news coming out of Geneva, please visit our sister publication EBACE Convention News.