Morgan Stanley's Gorman: Quarterly Reporting Is 'Asinine'

The transcript discusses the importance of long-term decision-making for CEOs, using the acquisition of Smith Barney as an example. It highlights the role of the board in supporting strategic decisions and critiques the frequency of quarterly reporting, suggesting it detracts from focusing on client needs.

What does the speaker mean by 'the treadmill' in the context of earnings reporting?

In what ways does the speaker suggest that the focus of the organization should shift?