““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 ”
Operators Team Up to Expand Asian, European Charter Offerings
Fly Comlux and Deer Jet--which operate charter flights in Europe and Asia, respectively--have agreed to work together to develop new charter markets on both continents. Fly Comlux's fleet includes two Airbus ACJs, two A318 Elites, five Bombardier Global Expresses, two Global 5000s, two Challenger 605s and two Challenger 850s. Deer Jet, a subsidiary of China's Hainan Airlines, has an FBO in Beijing and operates about three dozen aircraft, among them a Boeing Business Jet, an Airbus 319 and a variety of Gulfstreams and Hawkers.