Gulfstream Opens Beijing Office

Gulfstream's Beijing office
Gulfstream is opening a Beijing sales office.
Wednesday, December 14, 2011 (All day)

Gulfstream Aerospace has opened a Beijing sales office in the China World Tower, which is in the middle of the city’s central business district. "As the business aviation market continues to expand in Asia Pacific, it becomes increasingly important that Gulfstream and [parent company] General Dynamics have a permanent presence in Beijing," said Larry Flynn, Gulfstream’s president. The company claims that its aircraft represent nearly one in four business jets in the region and says that its Asia Pacific sales have increased almost 200 percent over the past five years.

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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