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I feel like this is one of those rare cases where Trump and I agree on something, but it's still ultimately for completely different reasons. I suspect not having to report quarterly will make it easier for his companies to cook the books.
No, this is a horrible idea through and through. Delayed reporting only benefits those with insider information. It isn't going to change the fundamental problem of so many companies existing solely to enrich investors nor is it going to change all of the bullshit accounting "tricks" that boil down to "fire your staff and say you did more with less"
May I inquire how this could be a good thing? I feel like it could exacerbate problems, but I'm not well versed enough in macroeconomics to make an accurate assessment.
Quarterly reporting makes company leadership focus on short term gains over the long term health of the company, leading to frequent layoffs, selloffs and other actions that hurt both the employees and the economy as a whole.
Quarterly reporting itself does not force this.
Relatedly, people compensated mostly through stock options will continue to think short term with an emphasis on the stock price of the company for the duration of their particular vesting period.
but then you would need to have reports once every 5 years to actually see much change in their strategies.
We are talking about when they are required to release earnings not the only time they can. I’m pretty sure that lengthening the time wouldn’t really change anything as far as short term profit gain is concerned.
Like I doubt the quarterly earnings calls would go away, shareholders wouldn’t want to go a whole year without hearing from the company, they would just be a lot more lies and fluff.
I assume it is because they draw attention to companies struggling. Easier for him to deflect once a year than it is 4 times a year. If people don't know what to expect they can blindly throw money into companies all year and not realize they haven't hit projections in 9 months.
This was my first half sec thought, too, but it would actually be pretty bad. A lot more economic ticket would be happening behind closed doors for months before it would ever have to be released to the public. Insider trading would increase.
And it wouldn't actually change the short term incentives that drive CEOs to make short term decisions that hurt the long term.
And why do you think it's a good idea?
Why do you agree?