““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 ”
The U.S. Open returns to Long Island
From June 15 to 21, the world's best golfers will be at Bethpage State Park in Farmingdale, N.Y., for the U.S. Open, the second major event of the season. This marks a return to Bethpage for the championship event, which the state park hosted in 2002. This year, as then, golfers will play the par-71 Black Course during the championship days (June 18 to 21).
Limited corporate hospitality options were still available at press time.
The most convenient airport for business jet travelers is Farmingdale Republic. SheltAir Aviation Services, one of the facility's two FBOs, is offering free shuttle service to and from Bethpage and is establishing a special staging area to allow for quick turns. The FBO is also planning a gated area to ensure the privacy of visiting celebrities and VIPs. Atlantic Aviation, meanwhile, intends to run fuel-price promotions during the event. The company will also provide crews with complimentary lunches, games and raffles, as well as 50-inch flat-screen televisions so they can follow the action on the links.
For more on this tournament, visit