From: Eric Bormel
Sent: July 27, 2016
Subject: S7-06-16 comments

I want to comment on quarterly capitalism. We are in the age of information today. And within this shift, a noticeable trend has emerged where companies are foregoing long-term capex in return for a $0.01 improvement in Q3 EPS. This has dangerous implications for public companies, its shareholders and more important its stakeholders. I am of the opinion that we need to end the quarterly capitalism to the benefit of long-term shareholder and stakeholder value.
My background has yielded me insight into key executives who make this decision. As an investment banker working in mergers and acquisitions, I have heard real-life stories of dollars not spent on opportunities that would undoubtedly drive shareholder value long term because they needed to hit EPS that quarter. This personally bothers me and has sparked my desire to end the practice. I urge the SEC to review this practice and remove quarterly reporting, or limit quarterly reporting to only a sales report.

Thank you,

Eric Bormel