““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 ”
Up Front: June 2011
Oliver Wendell Holmes said, “Controversy equalizes fools and wise men–and the fools know it.” When we first began working on our Donald Trump feature, it was many months and many circuses ago. Like most magazines, we plan our covers well in advance, and we had been keeping The Donald on a back burner while we waited for the right time to spotlight him and his participation in business aviation. For obvious reasons, it seemed the right time was now.
Discussion about Donald Trump can set an ordinary conversation ablaze. Every single person I’ve mentioned our upcoming cover to has lit up with a
range of emotions, and the reaction has always been passionate. Despite his sometimes-outlandish antics, Trump’s joie de vivre definitely has had an impact on American culture.
Just before we went to press, he announced that he will not be running for president in 2012. He does, however, still look forward to taking off in his plush new 757. We are thrilled to be able to give you all the details about the aircraft inside this issue.
By the way, many of you have mentioned editor Jeff Burger’s article in the April 4 edition of Barron’s and the feature in the May 23 Barron’s (Penta section) by Charlie Alcock, who is a frequent BJT contributor and international editor for our sister publication Aviation International News. We’re proud of our ongoing collaboration with this Dow Jones publication, which began in 2008, and are pleased that so many of you like the results.
If you have not already done so, please take a few minutes to fill out our reader’s choice survey about flying privately. The form packaged with this issue makes it easy to participate, or, if you prefer, you can complete the survey online at www.BJTonline.com/survey. Then keep an eye out for our October/November 2011 issue, where we’ll publish the results. They’re likely to include some surprises and are bound to be useful to anyone who wants to maximize an investment in private air transportation.
Thank you from all of us for your readership, support and input.