Business Jet Traveler » October 2009

October 1, 2009
Bombardier says it is on pace to deliver its Learjet 85 model beginning in 2013. The manufacturer reports orders for nearly 60 of the $17.2 million (2008 dollars) aircraft, which are expected to become the first certified all-composite Part 25 business jets.

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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