““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 ”
Embraer Offers Credit Deals
According to Embraer, buyers of its Legacy 600 business jets can now use the Multi Service Aviation Affinity Card at airports worldwide to pay for fuel, maintenance, catering, landing fees and other charges. The Brazilian manufacturer has also announced that U.S. Bancorp's U.S. Bank Equipment Finance unit will provide financing for the Legacy as well as for the Lineage 1000 and the still-to-come Phenom 100 and Phenom 300 business jets.