““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 ”
Heavy Business Jet Traffic Expected for World Cup
Africa's first World Cup soccer tourament, set for June 11 to July 11 in South Africa, is expected to attract heavy traffic from business and private jets. Flight-planning specialists are urging operators to plan immediately to arrange landing and takeoff slots and aircraft parking, particularly in light of South Africa's rather limited infrastructure. A key player in such arrangements is ExecuJet Aviation, which has FBOs at Capetown International and at Lanseria International Airport (in photo), near Johannesburg. ExecuJet has prebooked approximately 16,000 provisional slots for the tournament period, but these must be allocated to specific tail numbers through the South African Air Force and pilots must be security screened before their operators can even apply for a slot. Airport parking is likely to be limited at most airports serving the World Cup, with some likely to have a drop-and-go policy requiring operators to relocate aircraft as soon as passengers have disembarked.