““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 ”
Time to hit the slopes
If you enjoy cooking, get out of the kitchen and head for Beaver Creek resort, 10 miles from Vail, Colo., where the annual Culinary Classic takes place from February 1 to 3.
The festival, held in conjunction with Bon Appetit magazine, will open with the Master Chef Challenge, in which chefs will have 20 minutes to concoct a culinary delight that includes one mystery ingredient. Also on the agenda: a cooking class, a wine workshop, a wine and spirits seminar and a celebrity-chef ski race.
Eagle County Regional Airport, which has an 8,000-foot runway, is the best bet for those flying in on business jets. It is about a 20-minute drive from Beaver Creek. Jet-A fuel is available; call the airport at (970) 524-9490 for information about services and fees.
For more about the event, visit www.beavercreek.snow.com.