““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 ”
Cessna Brings Home a Wounded Veteran
Cessna Aircraft Company’s third Veterans Airlift Command mission delivered wounded Private First Class Shawn Williams home to Wichita on December 14. On hand to greet him were several hundred Cessna employees, his family (Williams' stepfather works for Cessna) and the local American Legion Riders. Williams was injured in Afghanistan in June, when the Stryker he was driving hit an IED. He was airlifted to Germany, then to Washington and ultimately to San Antonio, for treatment at the Brooke Army Medical Center. He suffered burns to his hands and face, had pins inserted into his foot and was confined to a wheelchair until three weeks ago. Earlier this year, Cessna joined with Veterans Airlift Command to provide free transportation for injured veterans. The aircraft manufacturer has designated a Citation Mustang, named the “American Patriot,” to fly its missions, the first of which occurred on November 10.