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.

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Updated 26 mins ago - Politics & Policy

What they're saying: Trump nominates Amy Coney Barrett for Supreme Court

Judge Amy Coney Barrett in the Rose Garden of the White House on Sept. 26. Photo: Oliver Douliery/AFP via Getty Images

Democratic and Republican lawmakers along with other leading political figures reacted to President Trump's Saturday afternoon nomination of federal appeals court Judge Amy Coney Barrett to succeed Justice Ruth Bader Ginsburg on the Supreme Court.

What they're saying: "President Trump could not have made a better decision," Senate Majority Leader Mitch McConnell said in a statement. "Judge Amy Coney Barrett is an exceptionally impressive jurist and an exceedingly well-qualified nominee to the Supreme Court of the United States."

Amy Coney Barrett: "Should I be confirmed, I will be mindful of who came before me"

Trump introduces Amy Coney Barrett as nominee to replace Ruth Bader Ginsburg. Photo: Olivier Douleiry/Getty Images

In speaking after President Trump announced her as the Supreme Court nominee to replaced Ruth Bader Ginsburg, Circuit Court Judge Amy Coney Barrett said on Saturday she will be "mindful" of those who came before her on the court if confirmed.

What she's saying: Barrett touched on Ginsburg's legacy, as well as her own judicial philosophy and family values. "I love the United States and I love the United States Constitution," she said. "I'm truly humbled at the prospect of serving on the  Supreme Court."

Updated 52 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 6 p.m. ET: 32,683,686 — Total deaths: 990,977 — Total recoveries: 22,535,887Map.
  2. U.S.: Total confirmed cases as of 6 p.m. ET: 7,072,897 — Total deaths: 204,446 — Total recoveries: 2,727,335 — Total tests: 99,488,275Map.
  3. States: New York daily cases top 1,000 for first time since June — U.S. reports over 55,000 new coronavirus cases.
  4. Health: The long-term pain of the mental health pandemicFewer than 10% of Americans have coronavirus antibodies.
  5. Business: Millions start new businesses in time of coronavirus.
  6. Education: Summer college enrollment offers a glimpse of COVID-19's effect.