““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 ”
Hawker 450XP and Super King Air 350i unveiled
The wraps are off on Hawker Beechcraft's Hawker 450XP and Super King Air 350i, revealing extensive cabin makeovers. Cabin "infotainment" systems for both aircraft are based on Rockwell Collins' Venue and will handle the latest information and entertainment sources-iPods, XM satellite radio, CDs and Blu-ray DVDs, X-Boxes and PlayStations-and feature multiple high-definition screens with home-theater-quality sound.
According to the Wichita, Kan.-based company, the 350i cabin also incorporates extensive soundproofing that will reduce average noise from the 82dBA typical of most light jets and turboprops to 78 dBA. LED lighting and electrochromic window darkening will add to the ambiance.
The back of the 450XP holds a midsize-jet-type lavatory. The double club-four cabin layout can be reconfigured for more spacious comfort by removing one seat and replacing it with an ottoman. The Super King Air 350i costs $6.526 million and is scheduled for certification in the third quarter of 2009. The "very well equipped" 450XP carries a $7.695 million price tag. Certification is expected in the second quarter of 2009.