Business Jet Traveler » August 2009

September 1, 2009
Senator Sam Brownback (R-Kan.) and Senator Pat Roberts (R-Kan.)
Senators Pat Roberts and Sam Brownback-both Kansas Republicans who have held their jobs since 1996-sent a letter to President Obama earlier this year [see box] to express concern over what they called "misguided and reckless statements and policy suggestions affecting the general aviation industry." In separate interviews, we recently asked both senators about the letter and the President.
September 1, 2009
Much has changed since last fall, when the National Business Aviation Association held its 61st Annual Meeting and Convention in Orlando.
September 1, 2009
I must admit I've been treated royally during my stay here at Camp Ryabaga, above the Arctic Circle. In fact, I can't remember when I've been so pampered so far from home. Ten anglers fed by three chefs, looked after by four housekeepers, with five helicopter mechanics, a massage therapist and doctor on standby-30 staff altogether-evokes in one a blush of guilt. But one soon gets over it.

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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