““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 ”
Helping the families affected by the shooting at Sandy Hook Elementary school in December 2012 is a cause that is close to our hearts. The publishing offices of Business Jet Traveler and parent company AIN Publications are in nearby Danbury, Connecticut, and several members of our team live in Newtown.
Our publisher, Tony Romano, who has three young children in the Newtown school district, is involved with Ben’s Lighthouse, the charity we’re spotlighting this month. We usually require that charities we feature have a four-star rating from Charity Navigator, but we’re making an exception for Ben’s Lighthouse, which is still too small and new to be considered for a rating.
Ben’s Lighthouse for Newtown’s Children (benslighthouse.org) was created in honor of six-year-old Ben Wheeler, a lover of lighthouses, who was killed in the Sandy Hook massacre. Its permanent endowment funds workshops and community service, expansion of existing programs and development of new ones. The goal: to provide the children of Newtown and surrounding towns with a nonviolent and caring culture.