Million Air Makes a Splash at Moses Lake (copy 1)

Business Jet Traveler » February 2009
Sunday, February 1, 2009 - 4:00am

With the acquisition of fixed-base operator Air American Fuel and Services at Grant County International Airport in Moses Lake, Wash., Million Air has expanded its FBO chain to 26 facilities in the U.S., Canada and the Caribbean. Grant County International is a designated port of entry and has a U.S. Customs and Border and Protection Office, allowing corporate travelers an alternative to more congested ports of entry in the Pacific Northwest.

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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