““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 ”
Dassault Says Falcon SMS Slated for 2016 Approval
Dassault is working toward a 2016 certification date for its much-anticipated super-midsize (SMS) Falcon business jet, said Olivier Villa, Dassault's senior vice president civil aircraft.
Launched in January 2008, the twin-engine SMS is intended to be the successor to the out-of-production three-engine Falcon 50. Although the program is ramping up to full-speed development, Villa remained coy about SMS details and industry partners. He said Dassault will likely not release much further information about the project for two to three years. To date, wind-tunnel tests have been completed for the airplane's basic shape. The company now has around 250 employees working on the SMS at its design office in the Paris area, a number that will double between now and early next year as designers from Dassault's partners join the team.