Signature Flight Support Opens in Boston

Business Jet Traveler » August 2007
Wednesday, August 1, 2007 - 5:00am

Signature Flight Support's new $13 million fixed-base operation (FBO) at Boston Logan
International Airport is up and running. The two-story, 13,000-square-foot facility includes passenger and crew lounges, administrative offices and a private VIP center with separate street and ramp-side entrances for visiting dignitaries.

Meanwhile, at Palm Springs International Airport, Signature broke ground in June for a 6,700-square-foot FBO (see artist's impression below) that is scheduled to open in early 2008.

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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