Business Jet Traveler » February 2009

January 2, 2009
XOJet, a San Carlos, Calif.-based aircraft charter and membership provider, has launched its complimentary Flight Program Analyzer. The service allows private jet fliers to produce customized reports showing detailed, side-by-side comparisons for private jet travel options ranging from charter to membership cards to fractional and full aircraft ownership.

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““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