““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 ”
John Travolta Named Bombardier Brand Ambassador
Bombardier has announced that actor, film producer and pilot John Travolta is now a "brand ambassador" for the Canadian
aircraft manufacturer's Learjet, Challenger and
Global jets. Travolta, a vocal advocate for corporate aviation, has added type rating for the Challenger 601 (which he recently purchased) to the list of approximately a dozen airliners and business jet models that he is qualified to fly. According to Travolta, business aviation provides him with "flexibility, privacy, security, and most importantly, timesaving--meaning I have the ability to keep up with my busy schedule and have more time for my family, which is very important to me."