““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 ”
Wi-Fi Broadband Service Available In-Flight
Row 44, a Los Angeles company, has introduced a broadband Internet service that it says will allow air travelers in-flight to use their own Wi-Fi-compatible devices. The service will operate over existing high-capacity satellite systems.
The company promises data link transfer rates as high as 81 megabits per second. It forecasts service that will support full-scale Internet surfing and e-mail with corporate VPN (virtual private network) access and can be expanded to include worldwide in-flight television reception. The initial production is aimed at the airlines but Row 44 president Gregg Fialcowitz said the product can be scaled for business aircraft as well.