““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 ”
Curfew Proposed for New York Airport
A bill being considered by the U.S. House Committee on Transportation and Infrastructure would give local authorities the right to enforce a nighttime curfew at New York's Westchester County Airport. Almost immediately after H.R. 2328 was referred to the committee, Ed Bolen, CEO of the National Business Aviation Association, fired off a letter stating the association's opposition to "any attempt to create local exemptions to federal law." Bolen added that the mobility of people and goods "cannot safely and efficiently occur if airports across the country establish a 'patchwork quilt' of different standards."
On the other hand, officials at the Westchester airport expressed support for the bill. "We have always wanted a mandatory curfew," said an airport spokeswoman. "We have done everything we possibly can to encourage pilots not to fly during the overnight hours, but there are still airplanes that take off and land [after the voluntary curfew]."