A Quote by Elaine Chao
Employers should overcome a myopic quarterly earnings posture and focus on long-term strategies for growth that include investing in their own skills-training efforts to enable a broader pool of applicants.
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Being captive to quarterly earnings isn't consistent with long-term value creation. This pressure and the short term focus of equity markets make it difficult for a public company to invest for long-term success, and tend to force company leaders to sacrifice long-term results to protect current earnings.
After careful consideration, we have decided that for our next fiscal year, we'll issue guidance on comparable store used unit sales and on earnings per share only for the full fiscal year. We will no longer issue quarterly guidance. This decision reflects our continuing focus on longer-term store, sales, and earnings growth and on return on invested capital, and our recognition that the performance in shorter-term periods can be more volatile than over the longer term. As we report our quarterly results, we plan to comment on how our performance is tracking against our annual guidance.
The long-term policies that will be most effective all have to do with investment: investing in ourselves, investing in opportunities, creating good schools, and creating situations where people can acquire skills that enable them to be successful.
I have almost no interest in quarterly reports. Running a business or investing in a business based on quarterly earnings doesn't make any sense at all to me.
One of the big problems with growth investing is that we can't estimate earnings very well. I really want to buy growth at value prices. I always look at trailing earnings when I judge stocks.
Let's adopt some short-term strategies to get growth going and then let's have a long-term debt reduction package. That's what I think we should do and I think it will work.
To assure the prosperity of a firm should be a long-term strategy and the turnover of key managers should be taken into account from the stand point of long-term consideration and not from the monthly or quarterly flavors.
Immigrants aren't the reason wages haven't gone up enough; those decisions are made in the boardrooms that too often put quarterly earnings over long-term returns.
The New Labour doctrine that skills training was the responsibility of employers was flawed. The idea that employers should take on a bigger role ignores the reality that employers have no incentive to train staff to leave. We can hardly expect Tesco to train checkout staff to become dental nurses.
Business chief executive officers and their boards succumb to the pressures of the financial markets and their fears of takeovers and pour out their energies to produce quarterly earnings - at the expense of building their companies for the long term.
There are many who subscribe to the convention that service is a business cost, but our data demonstrates that superior service is an investment that can help drive business growth. Investing in quality talent, and ensuring they have the skills, training and tools that enable them to empathize and actively listen to customers are central to providing consistently excellent service experiences.
The thing that I learned early on is you really need to set goals in your life, both short-term and long-term, just like you do in business. Having that long-term goal will enable you to have a plan on how to achieve it. We apply these skills in business, yet when it comes to ourselves, we rarely apply them.
Reforms to product and labour markets, education, innovation, green growth, competition, taxes, health - they are the things that should be the object of our primary focus in the context of a long-term strategy to restore sustained growth.
The best solution would be better strategies for more rapid economic growth and getting people jobs and increases in income. You should simply be clear about matching problems and solutions. If the problem is someone can't find a job because they don't have the skills and they need some retraining, extending emergency unemployment isn't going to solve that. You need the job training programs or the skills bills that come out of the House and are sitting in the Senate.
Corporations today, by their razor sharp focus on the 'bottom line' and quarterly earnings, have lost their ability to innovate.
People ought to invest in us because they like our company and the way they run it. We still do quarterly earnings guidance, but we tell people openly that they ought to look at the company for the long term and that's how they ought to invest.
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