21 BEST ANNUAL REPORTS OF LAST 15 YEARS

KALAMAZOO, Dec. 1.—A newsletter covering the annual report industry has picked "the 21 best annual reports to corporate shareholders of the last 15 years." Three of the top five on the list of world’s best aren’t corporations—they’re individuals. Annual report guru Sid Cato, who since 1983 has monitored the world’s key corporate communiqué, each year selects the world’s 10 best (as well as the 10 worst) reports for Chief Executive, a glossy magazine for corporate chieftains.

He explained, in the December issue of his Newsletter on Annual Reports, why "It made sense to cite three individuals for their outstanding work: Two of them, Ameritech’s George Stenitzer, and Californian Lynn Taylor, produced top reports for more than one company.

"The third, Donald E. Janis, was corporate controller of Wisconsin-based Mosinee Paper Corp. He directed its award-winning report six years until leaving the firm," whose report, Cato said, "promptly tanked." He said Stenitzer’s efforts prior to joining Ameritech were on behalf of Southwestern Bell and then, in its new guise, SBC Communications. Taylor’s efforts were for San Diego Gas & Electric and, then, Great Western Financial, both California companies.

St. Paul Cos., with an average score of 126 out of a potential 135 on Cato’s copyrighted scale, finished third behind Janis and Stenitzer, individuals. In fourth place, with an average of 125 points, was Chevron, followed by Ms. Taylor. Others, along with their average score out of a potential 135 points:

Armco, 123
Koppers, 123
AFLAC, 120
Bruncor, 120
Knight-Ridder, 119
NW Natural, 119
Reuters, 119
Phillips Petroleum, 118
PepsiCo, 117
Sonoco Products, 116
Southern Co., 114
Quaker Oats, 113
Transamerica, 111
American General, 105
Gannett, 104
Kemper, 104

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