Sid Cato -- January 2005 Quiz Answers

(Answers for January 2005)

1. You hold companies to a higher standard than yourself—isn't that true?
Answer: False. Though corporations have a staff, usually, involved with preparation of the annual report to shareholders, yours truly is, essentially, a one-man operation. Yet, I strive for honesty and accuracy and fairness in my doings involving the world's annual reports to shareholders.

2. Ever make mistakes?
Answer: True. You said it: The printing of the January 2005 issue of my monthly Newsletter on Annual Reports somehow screwed up (oops: make that, somehow went astray...), which fact I didn't catch until having mailed the issue to hundreds of subscribers and news media worldwide. That necessitated (1) a mea culpa—I goofed and (2) up front admission of my goof, as well as (3) resending subscribers a corrected reprint of Pages 3 and 4. (And I'm pleased I didn't come down hard on the printer; mistakes do happen.)

3. You say you've issued your Newsletter on Annual Reports monthly since September 1983. Your January 2005 issue is indicated as No. 256. But isn't it true you missed issuing December?
Answer: True—which fact we've compensated for by (1) counting January correctly as No. 256, and (2) adding a year to the subscriptions of persons around the world. Honesty starts at home, to quote the cliché.

4. You used the bug line/over line—call it what you will—"Revolution in the making" in your January issue. But you neglected to support it—to justify its use. True or false?
Answer: False, I'd say: "Revolution in the making" was run as a Pg. 3 overline on an article about themes. And, for good measure, it was one of four themes I held out to a Fortune editor as "intriguing." To me, at least.

5. If none of the early arriving 2004 annuals—from companies on a fiscal year basis—did well, doesn't that reflect poorly on you? True or false?
Answer: False—though I'm the first to admit I'm prejudiced. Besides, I wrote nice, nice things about one 2004; the Walgreen book (no, it's not a subscriber to any of my services, including my annual conference), said it "truly impresses." Its approach properly is external, and its shareholder letter innovatively is presented in a question-and-answer format. Plus, it's the sole early arrival to include 11-year financial data as advocated.

6. Moaning and complaining aside, isn't it true 2004 books are a vast improvement?
Answer: False, as indicated by the negative, -5.6% Cato Positive Index among early arrivals among the new crop. Walgreen's book, by contrast, has a 30.6% Cato Positive Index—that's a positive, as contrasted to the negative rating of all early arrivals.

Return to January 2005 quiz page

Test your knowledge by taking previous monthly quizzes


	1.	You hold companies to a higher standard than yourself—isn't that true? *Answer:* False. Though corporations have a staff, usually, involved with preparation of the annual report to shareholders, yours truly is, essentially, a one-man operation. Yet, I strive for honesty and accuracy and fairness in my doings involving the world's annual reports to shareholders.

	2.	Ever make mistakes? *Answer:* True. You said it: The printing of the January 2005 issue of my monthly Newsletter on Annual Reports somehow screwed up (oops: make that, somehow went astray...), which fact I didn't catch until having mailed the issue to hundreds of subscribers and news media worldwide. That necessitated (1) a mea culpa—I goofed and (2) up front admission of my goof, as well as (3) resending subscribers a corrected reprint of Pages 3 and 4. (And I'm pleased I didn't come down hard on the printer; mistakes do happen.)

	3.	You say you've issued your Newsletter on Annual Reports monthly since September 1983. Your January 2005 issue is indicated as No. 256. But isn't it true you missed issuing December? *Answer:* True—which fact we've compensated for by (1) counting January correctly as No. 256, and (2) adding a year to the subscriptions of persons around the world. Honesty starts at home, to quote the cliché.

	4.	You used the bug line/over line—call it what you will—"Revolution in the making" in your January issue. But you neglected to support it—to justify its use. True or false? *Answer:* False, I'd say: "Revolution in the making" was run as a Pg. 3 overline on an article about themes. And, for good measure, it was one of four themes I held out to a Fortune editor as "intriguing." To me, at least.

	5.	If none of the early arriving 2004 annuals—from companies on a fiscal year basis—did well, doesn't that reflect poorly on you? True or false? *Answer:* False—though I'm the first to admit I'm prejudiced. Besides, I wrote nice, nice things about one 2004; the Walgreen book (no, it's not a subscriber to any of my services, including my annual conference), said it "truly impresses." Its approach properly is external, and its shareholder letter innovatively is presented in a question-and-answer format. Plus, it's the sole early arrival to include 11-year financial data as advocated.

	6.	Moaning and complaining aside, isn't it true 2004 books are a vast improvement? *Answer:* False, as indicated by the negative, -5.6% Cato Positive Index among early arrivals among the new crop. Walgreen's book, by contrast, has a 30.6% Cato Positive Index—that's a positive, as contrasted to the negative rating of all early arrivals.