NEW YORK CITY MARATHON

More than 40,000 runners from all over the world will compete in the New York City Marathon. The event this year holds special meaning for many due to 2012’s last-minute cancellation in the wake of Hurricane Sandy. The race courses through all five boroughs of the city and is a terrific way to experience the vitality and exuberance of the Big Apple.

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Quote/Unquote

““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