““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 ”
Flying on the Ground
When it comes to a hot ride, it doesn't get much hotter on the ground than Jessie Harris' dragster, the Queen of Diamonds. A 6,000-lb thrust GE J-85-5 turbojet engine powers the dragster to speeds in excess of 300 mph. A native of Rome, N.Y., Harris had her debut in 2003 and was crowned International Hot Rod Association World Champion, running the quarter-mile in 5.16 seconds at an average speed of 304 mph. She's pictured here at the BizJet International exhibit at the 2006 National Business Aviation Association convention in Orlando, Fla. BizJet International, an aviation services and aircraft engine specialist in Tulsa, Okla., keeps the Queen of Diamonds' engine purring.