““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 ”
Wondair starts Frax op in Spain
Wondair On Demand Aviation, an executive charter and aircraft management company in Valencia, Spain, since 1990, has launched fractional ownership, jet card and corporate shuttle programs. All of these operations will initially employ Wondair's three Cessna CJ1s and one Citation Ultra. Next August, the company will begin adding to the fleet a mix of 36 Embraer Phenom 100s and 300s. The service is designed to cover the Iberian Peninsula, southern Europe and northern Africa with a network of bases and strategic partnerships with other service providers. For more information, visit www.jetforyou.com.