1.	Use of recycled paper in annual reports is a trend that's caught fire. True or false? Answer: False, alas. Just over three of 10 companies today proudly proclaim their use of recycled (or recyclable) paper in their annuals, same as it was six years ago—among 1991 reports. Off from 44% of 1996s.
	2.	You've complained about shareholder letters being "interrupted with unconscionable frequency." Companies have learned their lesson, though. True or false? Answer: Not too many are guilty, but the problem persists. In the 1997 report for London, England's EMI Group, for instance, the chairman's nine-page letter was run over a breathtaking 16 pages, as noted in our "What's going on?" feature. Now, another '97 report, for Avery Dennison, has a 10-page letter. It's run over 18 pages—meaning: eight pages of distractions from the important message! (And someone tell the two chubs heading the firm to put on their jackets. They've taken "letting it all hang out" to new depths.)
	3.	From your experience, the same companies continue pretty much to do well year after year. True or false? Answer: False. While Ameritech continues to perform superbly, year after year for the last four, Bruncor emerged from the pack to achieve a perfect score of 135 points. One of my favorite firms, AFLAC, didn't do so well this year, even though its score rose. Hillenbrand, No. 10 a year ago with 125 points, has fallen to 111 this time, its producer having moved on to greater challenges. The Chevron report, among the 10 best 10 consecutive years, this year warrants but 122 points, which no doubt relegates it to also-ran status. And Hercules, which last year recorded a score of 118 points, making it a distinct contender for Top 10 honors this year, has scored 10 points fewer—108 preliminarily. Go figure.
	4.	You pretty much can predict which annual reports will walk off with honors each year. True or false? Answer: False. I'd have bet the store that the Armco report (the Pittsburgh-based specialty steel company showed me its plans at an early stage of the process) would walk off with top honors. Yet, its score is a fall-short 125, which may or may not keep it among the top 10.
	5.	In the past you've taken to task companies that, for instance, had blank pages in their reports. No more such silliness. True or false? Answer: False. Tenneco a year ago made my list of world's worst reports. This year's report appearance is unique (the annual appears in the size and shape of an automobile license plate), but that's more than offset by seven—count 'em—blank pages, a sure sign of amateurs at the helm. Adding insult to injury, the folks responsible labeled each page as a potential repository for "Notes," complete with 16 ruled lines per page. Not very bright, indeed.