• News
  • Health Care

Buffett, Dimon and Bezos have a CEO for their health care venture

Buffett, Dimon and Bezos have a CEO for their health care venture

Dimon, chairman of the Business Roundtable, noted that the group of CEOs also support companies moving away from the practice and instead, focus on long-term value creation.

Buffett's Berkshire, along with Jamie Dimon's JPMorgan and Jeff Bezos's Amazon, said in late January that they planned to start a joint venture to improve health care for their workers.

Investor Warren Buffett and JP Morgan Chase CEO Jamie Dimon are encouraging public companies to stop predicting their quarterly earnings and focus on long-term goals.

In the op-ed, Dimon and Buffett said the pressure to meet short-term earnings estimates has contributed to a drop in the number of public companies in the USA in the past two decades.

They argue that short-term guidance has encouraged companies to hold off on technology spending and hiring and research, and has even discouraged many private companies from going public at all.

Dimon, is chairman of the Business Roundtable, an association of almost 200 CEOs that is also backing the push to eliminate so-called short-termism.

It's "sending the wrong message", Buffett told CNBC's Becky Quick in the interview.

Securities laws require quarterly reports on profits, revenue and other information but do not require quarterly forecasts.

More than 100 million Americans invest in public companies directly or through mutual funds and millions more participate in corporate, public and union pension plans.

Dimon and Buffett noted that the pressure to meet short-term profit forecasts has contributed to a fall in the number of public companies in the U.S.in the past two decades, "depriving the economy of innovation and opportunity". Despite the short-term hit to results from the tax bill, chief executive Jamie Dimon hailed the measure as a boon for the USA economy."US companies will be more competitive globally, which will ultimately benefit all Americans", Dimon said in a news release. An outsized emphasis on quarterly earnings per share projections undermines the importance of investments in infrastructure, workforce development and other crucial capital expenditures that drive sustained US economic growth.

Leave Your Comment

Leave Your Comment


Latest News

Breaking News



Recommended

Justify captures Triple Crown, wins Belmont

Justify's run in the Kentucky Derby was convincing enough to scare off a few opposing owners and trainers from the Preakness . Justify himself was born on another big day for the Gunther breeding operation, the same Saturday as the 2015 Florida Derby.

Ronaldo Makes An ‘Irreversible’ Decision To Leave Real Madrid

Both Ronaldo and Neymar have cut agitated figures recently and both players could move on from their respective clubs this summer.

Oil Prices Rise On Ongoing Venezuelan Supply Trouble

Trump has complained , meanwhile, that OPEC was inflating the price of oil through artificial means. Crude oil prices are continuing to diverge as global benchmarks rise relative to land locked WTI.

Guatemala volcanic eruption leaves 25 and 3,000 fleeing homes from 700c lava

Searing flows of ash mixed with water and debris gushed down the volcano's flanks, blocking roads and burning homes. Authorities closed the city's worldwide airport because of the danger posed by aircraft took to the air with ash.

India strikes river, rice deals with China as relations thaw

The SCO leaders are also expected to review the situation in the Korean peninsula, Afghanistan and Syria. Along with India, Pakistan was also granted membership of the SCO previous year .

Rob Whittaker's UFC middleweight title fight abandoned over 90 grams

Earlier this year, Romero weighed in at 187.7 pounds for a fight with Luke Rockhold for the interim belt. As a result of Romero missing weight, Rockhold could only win the interim title if he won the fight.

Prosecutor Says No Evidence of Foul Play in Anthony Bourdain's Death

The manner of Bourdain's death has also caused CNN and many other news outlets to highlight suicide prevention resources. Meanwhile, business analyst Darren Rovell tweeted , "Devastated to learn of Anthony Bourdain , whom I admired from afar".

Prince Harry, Meghan Markle Attend Queen’s 92nd Birth Celebration

She and Harry arrived at Buckingham Palace in the back of a vehicle before switching to their carriage for the big occasion. All the royals travel in different carriages and make their way up to the balcony where they greet the audience.

China's Xi awards "best friend" Putin friendship medal, promises support

The SCO was first announced in 2001 by the leaders of China, Kazakhstan, Kyrgyzstan, Russia, Tajikistan and Uzbekistan. Xi "is approachable and sincere", Putin told CGTN . "But he is also a very dependable man to work with".

Ocean's 8: Morally corrupt and bankrupt women centric comedy feature

Shawn also took the stage for a performance of "Like to Be You" with co-writer Julia Michaels , as well as his "Perfectly Wrong". "I think it kind of hampered us a little bit because the movie became so much of a cause", Feig told Vulture.