Finance
Trump Wants to End Quarterly Reporting. Jack Welch Would Approve
The legendary GE boss eventually came around to the idea that the focus on short-term results was a harmful distraction.
“You have to be an idiot to miss a Wall Street estimate.”
This was Jack Welch’s 2¢ on quarterly earnings expectations—part of the mandatory opening of the books public companies do every 90 days. Businesses have long decried the regulatory requirement as onerous, expensive and something that hangs over every decision they make like the mythological sword of Damocles.