Sid Cato -- October 2003 Quiz Answers

(Answers for October 2003)

1. Despite your best efforts, few if any officer-level communications pros agree with your admonition concerning what you call the "down-and-dirty" annual report—that is, one that relies essentially on the legalistic Form 10-K. True or false?
Answer: Try telling that to the half dozen communications officers quoted on Pages 1 and 2 of the October issue of my monthly newsletter. Not everyone agrees with the approach increasing companies, granted, took with their 2002 reports. (See Question No. 41, and my response, in the ASK Mr. Annual Report feature online.)

2. Selecting a theme for a company's annual report isn't done off the cuff. True or false?
Answer: True—if you believe (and I do) the man whose AFLAC annual is two points away from perfection. It's clear that, to him, selecting the theme for his company's annual is the most important first step in producing an award-winner.

3. You're seeing fewer truly awful annuals this year—for 2002. True or false?
Answer: False. Oh, sure—there'll always be awful annuals, but they seemed to overwhelm this past year. One in five went the legalistic Form 10-K route, and at least 12—"the dirty dozen," I call them—couldn't even scare up a positive rating. The year 2002's annuals will be remembered for a long while—negatively, that is—I assure you.

4. The annual report is the CEO's document. True or false?
Answer: True—as Manitowoc's annual report producer hastens to point out, one of his 15 tips on producing a winner.

5. Admit it: Few shareholders spend any time whatsoever reading the annual report. True or false?
Answer: Not if you believe the foremost expert in the business, his annuals for Tellabs and others achieving perfection. Moreover, virtually half the recipients tell pollsters they read or looked at some of the report; more than one in five said he or she "thoroughly reviewed it."

6. There may be loads of themes in annuals this year, but few if any are forcefully supported. True or false?
Answer: False. While more than seven in 10 reports contained a theme, presented proudly on the cover, three in four were assessed as receiving strong support thereafter. Monitoring this element was begun only among 1993 reports, when four of five themes were seen as strongly supported. That figure was matched among both 1998 and 2001 reports, if off a bit among 2002s.

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	1.	Despite your best efforts, few if any officer-level communications pros agree with your admonition concerning what you call the "down-and-dirty" annual report—that is, one that relies essentially on the legalistic Form 10-K. True or false? *Answer:* Try telling that to the half dozen communications officers quoted on Pages 1 and 2 of the October issue of my monthly newsletter. Not everyone agrees with the approach increasing companies, granted, took with their 2002 reports. (See Question No. 41, and my response, in the ASK Mr. Annual Report feature online.)

	2.	Selecting a theme for a company's annual report isn't done off the cuff. True or false? *Answer:* True—if you believe (and I do) the man whose AFLAC annual is two points away from perfection. It's clear that, to him, selecting the theme for his company's annual is the most important first step in producing an award-winner.

	3.	You're seeing fewer truly awful annuals this year—for 2002. True or false? *Answer:* False. Oh, sure—there'll always be awful annuals, but they seemed to overwhelm this past year. One in five went the legalistic Form 10-K route, and at least 12—"the dirty dozen," I call them—couldn't even scare up a positive rating. The year 2002's annuals will be remembered for a long while—negatively, that is—I assure you.

	4.	The annual report is the CEO's document. True or false? *Answer:* True—as Manitowoc's annual report producer hastens to point out, one of his 15 tips on producing a winner.

	5.	Admit it: Few shareholders spend any time whatsoever reading the annual report. True or false? *Answer:* Not if you believe the foremost expert in the business, his annuals for Tellabs and others achieving perfection. Moreover, virtually half the recipients tell pollsters they read or looked at some of the report; more than one in five said he or she "thoroughly reviewed it."

	6.	There may be loads of themes in annuals this year, but few if any are forcefully supported. True or false? *Answer:* False. While more than seven in 10 reports contained a theme, presented proudly on the cover, three in four were assessed as receiving strong support thereafter. Monitoring this element was begun only among 1993 reports, when four of five themes were seen as strongly supported. That figure was matched among both 1998 and 2001 reports, if off a bit among 2002s.