““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 ”
Learjet 85 Unveiled at Intrepid Museum in New York City
Flexjet and Bombardier showcased the new Learjet 85 aircraft at an invitation-only event at the Intrepid Sea, Air and Space Museum in New York City on October 3. The event was the eighth stop on an 11-city tour across the United States that is being held in conjunction with Rolls-Royce and other luxury lifestyle partners. Guests were able to step inside a mockup of the Learjet 85 and were also invited to test drive the Rolls Royce Phantom and Ghost automobiles. Flexjet is the aircraft's first fractional-jet-ownership customer, with deliveries scheduled for 2013, the same year Learjet will celebrate its 50th anniversary.