““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 ”
Stevens Delivers Modernized LJ 35
Business aircraft maintenance, modification and completions firm Stevens Aviation recently delivered its first Lear4Ever-an upgraded Learjet 35. For $2 million and six months of downtime, the Lear4Ever program provides upgrades, retrofits and modifications intended to modernize and extend the life of 20- and 30-series Learjets. Greenville, S.C.-based Stevens Aviation installs a glass cockpit; new interior and cabin entertainment system; Raisbeck ZR Lite wing upgrades and aft fuselage locker; and custom design exterior and painting.