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President Trump urged his Securities and Exchange Commission (SEC) yesterday to study revising the practice of quarterly financial statements by publicly listed companies.
He said, ““I’d like to see twice, but we’re going to see,” Trump told reporters when asked about his tweet. He said Indra Nooyi, who will step down in October after 24 years and as CEO at PepsiCo Inc., had brought it up to him.
Family - Story - Contains - Inappropriate - Content
Because Her Family’s Story Contains “Inappropriate Content”
This is long overdue and indeed some corporations interested in long term capitalism, not day trading or slick stock schemes, have dropped quarterly guidance altogether.
Here is why. Watch the video:
“Principled” is one of the four Ps of common-sense business.
Business - Principles - Principles - P - L
I would go so far as to say that no business can survive for long (or thrive at all) without principles. But principles don’t show up on the P&L statement. They are deep seated and hard to describe. In today’s world, they are sometimes even hard to admit to.
To have a principle means to believe that something is right and good and another thing is wrong and bad. Heaven forbid we take a stand on anything. We are much more comfortable with what I would call “synthetic business.”
Merriam - Webster - Situations - Realities - Surface
Something synthetic, as defined by Merriam Webster, is “devised, arranged, or fabricated for special situations to imitate or replace usual realities.” On the surface, modern-day investment bankers, traders, and baseball and other sports superstars might not seem to have very much in common. But all have been caught dealing in synthetics.
Recently the Financial Times reported that two of the largest banks in the country (if not the world), Morgan Stanley and J.P. Morgan, were looking to relaunch the giant boom-or-bust synthetic CDOs1 that nearly doomed the world economy and caused the painful crash of 2008. These two giant banks are not alone. Bloomberg...
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