““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 ”
Florida's Ferrari Festival
The Palm Beach Cavallino Classic, one of the premier annual gatherings of auto enthusiasts, takes place from January 19 to 24 at the city's Breakers Hotel. The Concorso d'Eleganza, which features some 150 classic Ferraris, highlights the show, but there is much more for aficionados to see and do. The six-day gathering includes an autocross event and a touring rally with classic and vintage Ferraris.
Jet Aviation's invitation-only La Bella Macchina coincides with the Cavallino Classic. On January 21, the FBO's West Palm Beach facility will host a reception that will celebrate Ferraris, private aircraft, yachts and other luxuries. Tours of the display aircraft are a hallmark of the event, which attracts thousands of Ferrari owners, socialites and business people.
In addition to the reception at Jet Aviation, the Cavallino Classic includes Artists' Preview at the Breakers and a ShowBoats Yacht Hop at the Rybovich Yacht Club.
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