US Chamber of Commerce President on the Value of Long-Term Planning/Reporting

The value of long-term planning and reporting received a boost from the President of the U.S. Chamber of Commerce last month.

U.S. Chamber of Commerce President Thomas Donahue has come out in opposition to companies' and Wall Street's fixation on quarterly earnings, which he says has been exacerbated by the more aggressive regulatory environment in the wake of Enron and other corporate scandals. Donohue is urging management to eliminate quarterly earnings guidance, while calling on analysts to begin focusing more on long-term growth issues. The Chamber of Commerce has become the Securities and Exchange Commission's (SEC's) sharpest critic since former chairman William Donaldson led an aggressive crackdown on securities-law violations.

From "Lobby Group to Denounce Quarterly Obsession" Financial Times (11/30/05)