““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 ”
Global warming? Don't blame this hangar
Charter/management company Avjet has moved into a new "green" hangar at Bob Hope Airport in Burbank, Calif. The facility, Hangar 25, is the first hangar to be certified at the platinum level by the U.S. Green Building Council, under the Leadership in Energy and Environmental Design green-building rating system.
Shangri-La Industries, which was founded by businessman and environmentalist Steve Bing, built the hangar for about $17 million. Avjet is leasing it from Shangri-La, which holds the lease on the property. The facility is large enough to accommodate two Boeing 757s plus some regular business jets.
A key feature of Hangar 25 is the 240-kilowatt Kyocera solar panel array on the roof, which supplies 110 percent of the building's power needs. This includes recharging the ground-power systems that can run an airplane's air conditioner before engine start, thus avoiding wasting jet fuel and eliminating excessive noise. The hangar's concrete floor reflects an abundance of light thanks to a diamond-polishing process that is expected to last 25 years and obviates the need to reapply toxic epoxy sealants. Hi-fog fire extinguishing can put out a blaze before it spreads without the use of damaging foam. Twenty-four-foot Big Ass Fans help keep hangar air cool in summer and circulate warm air from the ceiling in winter. Grass-like Synlawn landscaping makes watering unnecessary.