Business Jet Traveler » December 2008

December 1, 2008
News is 95 percent negative. I just made that up, but I'd bet my 401(k) that I'm within the statistical margin of error. Not that my 401(k) is worth close to what it was two months ago. At this rate I'll be working until I'm 90.
December 1, 2008
Magellan Jets' Voyager Program is offering a 10-percent discount on the next flight if your aircraft isn't ready to depart at the scheduled time. Membership in the program costs $250,000, which is applied to flight charges.

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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