Giving Back

Business Jet Traveler » December 2012
Photo credit:  IAVA
Photo credit: IAVA
Monday, January 28, 2013 - 11:45am

BJT readers–who represent one of the highest-net-worth magazine audiences anywhere–clearly have the means to contribute to a better world. To help you do that, we’re spotlighting one deserving organization per issue. All of them have received a four-star overall rating from Charity Navigator (charitynavigator.org), which evaluates philanthropic institutions based on their finances, accountability and transparency.

Iraq and Afghanistan Veterans of America (www.IAVA.org) is a nonprofit, nonpartisan organization working to improve the lives of Iraq and Afghanistan war veterans and their families. Founded in 2004 by a veteran of the Iraq war, IAVA strives to build an empowered generation of veterans who can provide sustainable leadership for their country and local communities. It allows those who have served to connect with one another via an online network to foster a strong, supportive community. IAVA also creates opportunities for veterans to gain access to customized health care, education and employment services. Iraq and Afghanistan Veterans of America seeks to make veterans a part of the national media conversation, “shaping the dialogue and connecting the 99 percent of the population who have not served in Iraq or Afghanistan with the 1 percent who have.”

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Quote/Unquote

““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 ”

-David Yermack