““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 ”
Swing, sip and savor
Relaxing on the golf course is only one attraction of the inaugural Golf and Wine Academy, which will be held October 16 through 19 in California's Livermore Valley, a 45-minute drive from San Francisco. Hosted by Cork & Tee, a company that specializes in golf vacations, the event is designed to deliver a good time but also to teach participants something about subjects of interest to them. As such, the long weekend combines golf coaching and competition with sommelier-led wine instruction and tasting.
The most convenient airport for those arriving by business jet is Livermore Municipal, which has a 5,255-foot runway, jet-A fuel and rental cars. Cork & Tee can arrange transportation to the event for those who fly into San Francisco or Oakland.
For more information about the Golf & Wine Academy, which is limited to 40 participants, visit www.corkandtee.com.