Business Jet Traveler » October 2009

October 1, 2009
Open-sided dining areas overlook a lagoon where elephants lumber through the
While Africa brims with unspoiled landscapes written in big, bold strokes, Botswana's Okavango Delta proves especially dazzling. The 6,000-square-mile Delta is formed by the mighty Okavango, "the river that never finds the sea," which roars down from neighboring Angola and spills out into the sands of the perpetually barren Kalahari Desert.

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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