Changes Announced for Latin American Aviation Show

Business Jet Traveler » February 2007
Thursday, February 1, 2007 - 4:00am

Citing a desire by the Associação Brasileria de Aviação Geral (ABAG) to assume a more extensive role in organizing the Latin American Business Aviation Conference and Exhibition (LABACE), the National Business Aviation Association in the U.S. has announced that it is scaling back its participation. "After three years, ABAG is moving into the lead and will coordinate the event from São Paulo," said NBAA president and CEO Ed Bolen. LABACE 2007 (www.labace.aero) is scheduled for August 9 to 11 in São Paulo.

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““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 ”

-David Yermack