Yacht owners take flight

Business Jet Traveler » February 2008
Microsoft co-founder Paul Allen’s 412-foot-long Octopus features one helideck
Friday, February 1, 2008 - 4:00am

Last fall at the prestigious Monaco Yacht Show, Eurocopter was in attendance-not to buy a yacht, but to sell a helicopter, or two or three, in a market in which helicopters are much in demand. In fact, it is rare these days to see any yacht longer than about 120 feet come off the design board without a helicopter flight deck. On larger vessels that must be anchored out rather than tied up dockside, the on-board helicopter is more than a luxury. For ship-to-shore transportation when the water is rough, and for flights to and from the nearest airport, mega-yacht owners consider it a necessity.

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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