““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 Jet developer still needs a partner
Aerion reports that it is close to picking a manufacturing partner to lead development and production of its supersonic business jet. According to the Reno, Nev. company, it will then work with the manufacturer to confirm the Mach 1.6 jet's performance, costs and market. Aerion anticipates that the $80 million jet could be certified by late 2015.