Embraer To Unveil New Business Jet

Business Jet Traveler » October 2007
Monday, October 1, 2007 - 5:00am

At press time, Brazilian manufacturer Embraer was set to unveil a full-size mockup of its proposed next business jet at the NBAA Convention in Atlanta in late September. According to company president and CEO
Frederico Fleury Curado, the mockup does not constitute an official launch of the as-yet-unnamed, nonderivative aircraft, which would fill the niche between Embraer's Phenom 300 and larger Legacy 600. He added that the company is still considering plans for a second aircraft in that same market segment. He said that Embraer has now received nonrefundable orders for more than 500 Phenom 100s. The airplane is scheduled for certification next summer. n

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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