Business Jet Traveler » October 2008

October 1, 2008
Cessna Aircraft has delivered its 100th Citation Mustang. The buyer, Thai businessman Supap Puranitee, had put a deposit down on the very light jet the day the program was launched at the 2002 National Business Aviation Association Convention. The first Citation Mustang entered service in April 2007 and Cessna delivered 45 of them by the end of that year.
October 1, 2008
-Steven Stolman, one of the new breed of hitchhikers who hop free rides on friends' private jets, explaining the "rules of the road" Source: The New York Times
October 1, 2008
Business aircraft maintenance, modification and completions firm Stevens Aviation recently delivered its first Lear4Ever-an upgraded Learjet 35. For $2 million and six months of downtime, the Lear4Ever program provides upgrades, retrofits and modifications intended to modernize and extend the life of 20- and 30-series Learjets.

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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