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President Trump proposed today via Twitter cutting the quarterly financial reporting requirement to a semi-annual basis, a move that would slice into the revenue streams of financial PR firms.
The quarterly system has been long criticized for fostering Wall Street's emphasis on achieving short-term financial gains at the expense of the future growth.
Berkshire Hathaway's Warren Buffett is among Big Business leader to advocate for easing the financial reporting mandate.
Trump tweeted the implementation of his proposal would "allow great flexibility and save money."
He tweeted that "some of the world's top business leaders" told him that dropping the quarterlies "would make business (jobs) even better in the US."
The Securities and Exchange Commission will study Trump's proposal.
The National Investor Relations Institute has not commented on Trump's tweet.
"While NIRI has not taken a public position on the frequency of quarterly earnings reporting, we support efforts to promote long-termism, and we have urged our members to provide longer-term earnings guidance if their companies choose to provide guidance," NIRI spokesperson Ted Allen told O'Dwyer's.
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Kekst CNC represents Cleveland-based Everstream as the business-only fiber network receives bankruptcy court approval for the sale of almost all of its operations to Bluebird Fiber for $385M.
FTI Consulting handles media for McCormick as the 137-year-old flavors company combines with Unilever Foods in a deal valued at $45B.
Edelman Smithfield handles Sysco as the world's largest food-away-from-home distributor acquires Foxcroft Strategy Group client Jetro Restaurant Depot, which serves delis and mom & pop shops, in a deal valued at $29B.
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