Where Flight Options Clients Spent Their Summer Vacations

Business Jet Traveler » October 2007
Monday, October 1, 2007 - 5:00am

Las Vegas topped the list of the most popular leisure destinations this past summer for
participants in Flight Options' fractional ownership, aircraft management and charter
programs. Also in the top five: Aspen, Colo., where music festivals and a growing culinary reputation have bolstered the town's year-round appeal; Jackson, Wyo., which boasts world-class fly fishing and hiking and a rich arts scene; Hailey, Idaho, which offers music, arts and legendary trout fishing; and Eagle, Colo., known for championship golf and a music festival. Rounding out the top 10 were Scottsdale, Ariz.; Napa, Calif.; Nantucket, Mass.; Carlsbad, Calif.; and East Hampton, N.Y.

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Quote/Unquote

““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 ”

-David Yermack