““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 ”
First International GA Terminal Opens in India
Mumbai's airport is the first in India to start international operations from a dedicated general aviation (GA) terminal, which until April 2011 catered only to private domestic charters. Mumbai handled 13,290 nonscheduled flights in the fiscal year ending March 31, an increase of 61 percent from five years ago. Sanjay Reddy, managing director of Mumbai International Airport Limited, said GA traffic at the airport is expected to
grow 10 percent annually over the next five years. Mumbai's GA terminal houses two private lounges, two conference halls, two crew rest rooms and a cafe bar, as well as immigration counters and security holds. Apart from the concierge service, passengers are also provided personal travel assistance to the aircraft.