Kissing the @ss of the president is probably a wise move, Mr./Mrs. CEO.
New research shows that visiting the White House during President Obama's reign led to a nice pop in the stock price of the company coming to talk shop. According to a new study by the National Bureau of Economic Research, shares of companies whose top executives visited White House officials performed nearly 0.9 percentage points better than the overall stock market after the visits. The authors of the report, finance professors Jeffrey Brown and Jiekun Huang University of Illinois at Urbana-Champaign, say the stock market lift occurred from 10 trading days before the meetings to 40 trading days after the visits. They analyzed 2,286 meetings between corporate executives and federal government officials at the White House from 2009 through 2015.
The study was first reported by Bloomberg.
Unfortunately for these two scholarly fellas, they will unlikely be able to do a study under the Trump presidency. Trump ended President Obama's practice of making the visitor log public. But we felt compelled to do an unscientific study looking at stock prices of companies this year whose CEOs have met with now President Trump. Getting in tight with any president could be beneficial to corporate planning, and our unscientific study suggests investors think hanging out with Trump is generally a winning strategy, too.
Some well-known CEOs who have met with Trump this year, and their average year-to-date stock price performance is +5.3 percent
Kevin Plank Under Armour (UA)
- Stock price year to date: -24 percent
Jeff Fettig Whirlpool (WHR)
- Stock price year to date: +1.05 percent
Indra Nooyi PepsiCo (PEP)
- Stock price year to date: +8.2 percent
Doug McMillon Walmart (WMT)
- Stock price year to date: +10.1 percent
Bill Rhodes AutoZone (AZO)
- Stock price year to date: -10.1 percent
Denise Morrison Campbell's Soup (CPB)
- Stock price year to date: -4.3 percent
Brian Cornell Target (TGT)
- Stock price year to date: -20.6 percent
Art Peck Gap (GPS)
- Stock price year to date: +17.3 percent
Stefano Pessina Walgreens Boots Alliance (WBA)
- Stock price year to date: +3 percent
Marvin Ellison J.C. Penney (JCP)
- Stock price year to date: -34 percent
Greg Sandfort Tractor Supply (TSCO)
- Stock price year to date: -18 percent
Hubert Joly Best Buy (BBY)
- Stock price year to date: +21 percent
Sheryl Sandberg Facebook (FB) (number two at company)
- Stock price year to date: +31 percent
Larry Page Alphabet (GOOGL)
- Stock price year to date: +21 percent
Jeff Bezos Amazon (AMZN)
- Stock price year to date: +26 percent
Jack Ma Alibaba (BABA)
- Stock price year to date: +33 percent
Tim Cook Apple (AAPL)
- Stock price year to date: +32 percent
Read This Or Lose Out
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Shoveling coal is a dirty gig anyway.
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Here is Dion last summer belting it out.
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