Business Jet Traveler » December 2009

December 1, 2009
AVIATION LEGEND JIMMY DOOLITTLE made the first "blind" landing in September 1929, a little more than 80 years ago. He used an experimental Sperry gyroscope to serve as his artificial horizon and then-revolutionary radio beacons to home in on the runway.

Pages

 

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