““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 ”
Matt Thurber Wins NBAA Gold Wing Award
Regular BJT contributor Matt Thurber is the winner of this year's Gold Wing Award for reporting excellence from the National Business Aviation Association. The award recognizes Thurber's "Saving Lives, One Flight at a Time," which appeared in BJT's August/September 2011 issue. The story focused on the key role that chartered aircraft and their operators play in the delivery of human organs that are desperately needed for transplants. This is the 19th major journalism award won by BJT, its staff and its contributors since 2005. Moreover, Business Jet Traveler has now won the NBAA's Gold Wing Award three out of the last four years. BJT’s sister publication AIN won the fourth, so our company is four for four in a competition that is open to all trade and consumer publications, online media and radio and TV outlets in the U.S. Past winners have included the New York Times, CNBC and the Wall Street Journal. Thurber is a senior editor at our sister publication Aviation International News. He also edits our domestic aviation convention publications. In addition to all this work, he somehow finds time to write extensively for BJT. In 2012 alone, he has produced excellent interviews with Zappos' Tony Hsieh, tennis star Novak Djokovic, Industry Insiders Chris Holifield and Dan Schwinn, the Discovery Channel's John Hendricks and moonwalker Buzz Aldrin.