““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 ”
Elite Aviation Announces Personalized “Experiences” Service
Charter operator Elite Aviation has launched an initiative designed to cater to its clients' every whim. Called Elite Attaché, the program allows passengers “to experience almost anything they can imagine,” according to the firm, which will take care of the planning and details. Examples given by the Los Angeles-based company include being flown to the Grammys or the set of your favorite TV show, flying a Marchetti S260 in simulated air-to-air combat or racing an Indy-style car at 180 mph. Elite CEO Chris Holifield told BJT that the company is making the service available to all of its customers at no extra charge; it will simply pass along any costs associated with client requests.