““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 ”
Hawaii, the easy way
While booking a stay in a luxury Hawaiian hotel isn't hard, finding one that will fly you there on a private jet might be. The Royal Lahaina Resort on Maui and the Royal Kona Resort on the Big Island offer to do just that, via a new service called POSH Private Jet Holidays. Ed Hogan, a 50-year travel-industry veteran and the subject of a BJT Center Stage feature in August 2004, owns both the hotels and the private jet operation.
The weeklong Hawaii package, which costs about $14,000 per couple, includes round-trip transportation from Van Nuys, Calif., on a specially outfitted, 14-passenger Gulfstream G450. (Hogan expects to have a second G450 in the air by the time you read this.) The flights feature gourmet meals catered to order, served on fine china and with Baccarat crystal, along with an upgraded entertainment system that allows passengers to monitor the aircraft's progress.