Jet Aviation Hosts 12th Annual La Bella Macchina

BJT Waypoints
La Bella Macchina 2012
Photo: Chad Trautvetter
Thursday, January 26, 2012 - 3:00pm

Jet Aviation hosted its 12th annual La Bella Macchina (“The Beautiful Machine”) event at its Palm Beach, Fla. facility on January 19. Business Jet Traveler cosponsored the invitation-only event, which included displays of business aircraft, yachts and Ferrari automobiles as well as a silent auction that raised $20,000 for the Boys and Girls Club of Palm Beach County.

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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