““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 ”
Gulfstream Introduces ‘Elite’ Interiors
Gulfstream Aerospace has unveiled “Elite” interiors for the G550 and G450. The extra-cost package incorporates much of the look and feel of the interior for the new ultra-long-range G650 and includes the wireless Gulfstream Cabin Management System (GCMS).
The GCMS provides complete digital cabin control through on-board touch screens, touch switches and passenger controls units, as well as via passengers’ mobile devices that have been loaded with the GCMS app. The Elite interiors also feature 27-inch-wide executive club seats that have telescoping headrests, one-touch full-flat berthing and electric lumbar controls. Customers will be able to choose from a wide variety of textiles, leathers and finishes. Elite interiors will be installed at Gulfstream Savannah [Ga.] and will start at approximately $1.5 million.