Giving Back

Business Jet Traveler » June 2013
Patrick Chung, player for the New England Patriots, reads to children in Boston at the Macy’s store. Macy’s is a long-time sponsor of RIF.
Patrick Chung, player for the New England Patriots, reads to children in Boston at the Macy’s store. Macy’s is a long-time sponsor of RIF.
Monday, May 13, 2013 - 8:15am

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, which evaluates philanthropic institutions based on their finances, accountability and transparency.

In this era of information-overload, it’s perhaps as astonishing as it is sad that approximately 30 million Americans and one billion people worldwide have never even learned to read or write. Here, we spotlight two U.S.-based literacy organizations that are making a difference, one person at a time.

Reading Is Fundamental, Inc., in Washington, D.C., prepares and motivates children to read by delivering books and literacy resources to the kids and families who need them most. Through volunteers in every state and U.S. territory, RIF provides 4.5 million children with 16 million books and literacy resources each year. All RIF programs combine three essential elements to foster children’s literacy: reading motivation, family and community involvement and the excitement of choosing free books to keep.

Palm Beach County Literacy Coalition works to ensure that every child and adult in Palm Beach County, Florida, becomes a reader. The group manages a literacy hotline, referring adults to programs throughout the county where they can receive the help they need. In addition, an outreach program recruits and trains volunteer tutors to serve adult learners at numerous community locations.

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““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