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Illustration: Axios Visuals

President Trump this morning tweet-proposed a fundamental change to U.S. corporate governance and transparency:

"In speaking with some of the world’s top business leaders I asked what it is that would make business (jobs) even better in the U.S. 'Stop quarterly reporting & go to a six month system,' said one. That would allow greater flexibility & save money. I have asked the SEC to study!"

Be smart: It's too early to know how serious Trump is about this, as this was just one of six (and counting) morning tweets, but some quick thoughts (below the fold):

  • There is little doubt that too many public company operations are perverted by "short-termism," and it can have a negative impact on hiring.
  • But halving the number of reporting periods is certain to reduce the amount of information available to investors, without solving the core problem of CEOs trying to meet artificial data deadlines.
  • A much more commonly-suggested fix would be to change CEO incentives, primarily by decoupling compensation from short-term stock price goals.
  • And, of course, a regular reminder that CEOs don't need to obsess over quarterly numbers. It's a choice.

Go deeper

52 mins ago - Health

Pfizer coronavirus vaccine safe, effective in children, company says

Photo by Mario Tama/Getty Images

Pfizer and BioNTech's coronavirus vaccine is safe and effective in children ages 5 to 11, albeit at a lower dose than adults receive, the companies said in a press release announcing results from a pediatric trial.

Why it matters: The trial results are a much-needed source of hope for families with elementary school-aged children, who currently aren't eligible for a vaccine.

The pandemic made our workweeks longer

Illustration: Annelise Capossela/Axios

The average American's workweek has gotten 10% longer during the pandemic, according to a new Microsoft study published in Nature Human Behaviour.

Why it matters: These longer hours are a key part of the pandemic-induced crisis of burnout at U.S. firms — and workers are quitting in droves.

Mike Allen, author of AM
2 hours ago - Economy & Business

Airbnb CEO Brian Chesky to herald "travel revolution"

Expand chart
Data: TSA. Chart: Jared Whalen/Axios

Airbnb CEO Brian Chesky will argue this week that the world is undergoing a "travel revolution," in which some parts of the industry stay shrunk but the sector ultimately comes back "bigger than ever."

Why it matters: Chesky, who faced the abyss when the world shut down last year, foresees a significant shift in how people move around, with more intentional gatherings of family, friends and colleagues — even if routine business travel is never what it once was.