““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 ”
Fine art takes to the seas
Art aficionados have a new way to enjoy their hobby in an exclusive environment. Bonita Springs, Fla.-based SeaFair is creating a gallery on a luxury yacht for the exhibition of American and international art. The ship will bring high-end art dealers and jewelers to cities along the East Coast, eliminating the need for enthusiasts to travel long distances to visit important galleries.
The 228-foot Grand Luxe will begin its maiden voyage June 5 in Greenwich, Conn., and will visit 34 East Coast markets. SeaFair plans to repeat the trip annually.
To apply to attend one of the company's invitation-only on-board art shows, visit its Web site, www.expoships.com, or call (239) 949-5411.