““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 ”
Supersonic Bizjet to Travel at Mach 4
HyperMach Aerospace has announced that its 20-seat supersonic business jet, SonicStar, will be able to fly at Mach 4.0. This is faster than the originally announced top speed of Mach 3.6. At Mach 4, the SonicStar would be able to travel from New York to Dubai in just 2 hours 20 minutes. The SonicStar is scheduled to fly in 2021, with certification possible by 2025. The price? A cool $180 million.