Sid Cato -- Answers

(Answers for November 2000)

1. You advocate that women be paid as much as men in doing the very same job. True or false?
Answer: True. I can't for the life of me comprehend how companies can justify doing otherwise. Even our vice presidential candidates indicated support for that policy – that's how widespread the conviction is.

2. Your advocacy of equal pay for equal work – it's, well, working. True or false?
Answer: False. Men make 11% more than women for the same job. That's a finding in my exclusive, 15th annual Producer Poll. Yet men tend to have more on their team. Also, their tenure with the company is less (that is, they average fewer years with the firm). They do work longer hours, though – 54 average a week vs. 50 for women. Women producers, though, are better educated than their male counterparts. Strangely enough, men are more likely to complain about their job – one in five says he's "beleaguered," while 93.3% are convinced working on the key corporate communiqué can be hazardous to their health. By contrast, no women producers admit to feeling stressed; one in five doesn't find the job all that intimidating.

3. Your opposition to boards that exclude women and/or minorities is rather well known. But isn't it true that in some respects, such companies' annual reports are superior to those of firms with a "diversified" board?
Answer: True – except that companies that exclude women and minorities tend to present less financial disclosure. Putting it another way: Those that don't practice exclusion are 10% more likely to include financial data exceeding the minimum (five years) required by the Securities and Exchange Commission.

4. Once a company makes your list of world's worst, you can be counted on to find fault forever more. True or false?
Answer: False, I'd have to insist. Take Chicago's CNA Financial. Its annuals more than a decade ago were named to my list of world's worst. Yet, I hail its 1999 report, which I wrote "has improved greatly, at least in part." Specifically, I hailed its management roundtable, though 64 of its 76 pages are a throwaway: No attempt was made to make them inviting.

5. You tend to play favorites. For instance, you can be counted on to praise important chief executives, but once they're out of the picture – either retire, are replaced, or their company is bought out from under them – you promptly forget they existed. True or false?
Answer: False – at least, I certainly hope so. Take Consolidated Paper's George W. Mead: His firm was bought by a paper company based in Helsinki, Finland. Yet I praised him in my November issue as "one of the good guys," even though he's no longer in the corner suite, no longer has clout.

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	1.	You advocate that women be paid as much as men in doing the very same job. True or false? *Answer:* True. I can't for the life of me comprehend how companies can justify doing otherwise. Even our vice presidential candidates indicated support for that policy – that's how widespread the conviction is.

	2.	Your advocacy of equal pay for equal work – it's, well, working. True or false? *Answer:* False. Men make 11% more than women for the same job. That's a finding in my exclusive, 15th annual Producer Poll. Yet men tend to have more on their team. Also, their tenure with the company is less (that is, they average fewer years with the firm). They do work longer hours, though – 54 average a week vs. 50 for women. Women producers, though, are better educated than their male counterparts. Strangely enough, men are more likely to complain about their job – one in five says he's "beleaguered," while 93.3% are convinced working on the key corporate communiqué can be hazardous to their health. By contrast, no women producers admit to feeling stressed; one in five doesn't find the job all that intimidating.

	3.	Your opposition to boards that exclude women and/or minorities is rather well known. But isn't it true that in some respects, such companies' annual reports are superior to those of firms with a "diversified" board? *Answer:* True – except that companies that exclude women and minorities tend to present less financial disclosure. Putting it another way: Those that don't practice exclusion are 10% more likely to include financial data exceeding the minimum (five years) required by the Securities and Exchange Commission.

	4.	Once a company makes your list of world's worst, you can be counted on to find fault forever more. True or false? *Answer:* False, I'd have to insist. Take Chicago's CNA Financial. Its annuals more than a decade ago were named to my list of world's worst. Yet, I hail its 1999 report, which I wrote "has improved greatly, at least in part." Specifically, I hailed its management roundtable, though 64 of its 76 pages are a throwaway: No attempt was made to make them inviting.

	5.	You tend to play favorites. For instance, you can be counted on to praise important chief executives, but once they're out of the picture – either retire, are replaced, or their company is bought out from under them – you promptly forget they existed. True or false? *Answer:* False – at least, I certainly hope so. Take Consolidated Paper's George W. Mead: His firm was bought by a paper company based in Helsinki, Finland. Yet I praised him in my November issue as "one of the good guys," even though he's no longer in the corner suite, no longer has clout.