Comments on: A comic annual report http://facilitatingchange.org/2009/03/make-your-annual-report-a-comic/ one butterfly flapping its wings Tue, 17 Jan 2012 13:48:37 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Robert B http://facilitatingchange.org/2009/03/make-your-annual-report-a-comic/comment-page-1/#comment-499 Robert B Sat, 13 Jun 2009 04:01:17 +0000 http://www.facilitatingchange.org/?p=537#comment-499 I also really like their admission that investing in a floating casino on the Mississippi River, next to New Orleans, right before Hurricane Katrina hit, was a big mistake. If only politicians and elected officials could look into their actions and admit when they screwed up, and why, and learn from it, we'd all be better off. Usually when mistakes are made, we look for excuses and factors outside our control to blame them on. It is unusual in the business world for managers to own up --good for them, it makes investors feel reassured that they are being dealt with as adults. I also really like their admission that investing in a floating casino on the Mississippi River, next to New Orleans, right before Hurricane Katrina hit, was a big mistake. If only politicians and elected officials could look into their actions and admit when they screwed up, and why, and learn from it, we’d all be better off. Usually when mistakes are made, we look for excuses and factors outside our control to blame them on. It is unusual in the business world for managers to own up –good for them, it makes investors feel reassured that they are being dealt with as adults.

]]> By: Christine http://facilitatingchange.org/2009/03/make-your-annual-report-a-comic/comment-page-1/#comment-497 Christine Thu, 11 Jun 2009 21:55:39 +0000 http://www.facilitatingchange.org/?p=537#comment-497 I went to look at <a href="http://www.leucadia.com/" rel="nofollow">Leucadia National Corporation</a>'s website. <a href="http://www.facilitatingchange.org/wp-content/uploads/2009/06/leucadia-national-corporation-2008.pdf" rel="nofollow">Here's the report</a>. Yeah, looks so boring and yet some great writing in here. Sure makes them appear more credible — like no-bullshit-let's-get-stuff-done folks. The sort you might invest in. Some excerpts: <blockquote>"In 2008, Leucadia reported a loss of $2,535,425,000 after tax, which is $11.00 per share fully diluted. In 1992, following a fire in Windsor Castle and marital problems for most of her children, the Queen of England in a speech marking the 40th anniversary of her Accession referred to the past year as “annus horribilis.” 2008 was just such a year. "This is the same report as last year, nothing has changed. The market is awful as housing starts shrink and consumer spending on new porches and decks continue to contract. It is some kind of miracle that Ted squeezed out any profit at all. Go Ted, Go! "We have three investments discussed below which are all related to the cost and availability of energy. We remain convinced that over the long run energy prices will trend up. Last year we said that energy prices would most likely stay high. Oh how wrong we were! </blockquote> I went to look at Leucadia National Corporation‘s website. Here’s the report. Yeah, looks so boring and yet some great writing in here. Sure makes them appear more credible — like no-bullshit-let’s-get-stuff-done folks. The sort you might invest in.

Some excerpts:

“In 2008, Leucadia reported a loss of $2,535,425,000 after tax, which is $11.00 per share fully diluted. In 1992, following a fire in Windsor Castle and marital problems for most of her children, the Queen of England in a speech marking the 40th anniversary of her Accession referred to the past year as “annus horribilis.” 2008 was just such a year.

“This is the same report as last year, nothing has changed. The market is awful as housing starts shrink and consumer spending on new porches and decks continue to contract. It is some kind of miracle that Ted squeezed out any profit at all. Go Ted, Go!

“We have three investments discussed below which are all related to the cost and availability of energy. We remain convinced that over the long run energy prices will trend up. Last year we said that energy prices would most likely stay high. Oh how wrong we were!

]]> By: Robert B http://facilitatingchange.org/2009/03/make-your-annual-report-a-comic/comment-page-1/#comment-494 Robert B Thu, 11 Jun 2009 10:18:24 +0000 http://www.facilitatingchange.org/?p=537#comment-494 OK, this is awesome, even for someone who understands the need for the appearance of propriety in annual reports — remember this is what investors, stockholders and the regulators (SEC) go to see if you are a well-run company, and if want to put their $$ into. As a less graphical version, I would urge people to look at the Annual Report for Leukadia Corp — a conglomerate (mining, gambling, wine companies, financial services). The writing is amazing — clear, direct, funny as hell, and yet it preserves the sanctity of the annual report, as an instrument of investment information (namely honest, transparent and informative for those who read it) plus retaining the usual financial reports, footnotes and corporate image (serious, conservative) through their choice of color (none) and pictures (none.) OK, this is awesome, even for someone who understands the need for the appearance of propriety in annual reports — remember this is what investors, stockholders and the regulators (SEC) go to see if you are a well-run company, and if want to put their $$ into.

As a less graphical version, I would urge people to look at the Annual Report for Leukadia Corp — a conglomerate (mining, gambling, wine companies, financial services). The writing is amazing — clear, direct, funny as hell, and yet it preserves the sanctity of the annual report, as an instrument of investment information (namely honest, transparent and informative for those who read it) plus retaining the usual financial reports, footnotes and corporate image (serious, conservative) through their choice of color (none) and pictures (none.)

]]> By: Sofia http://facilitatingchange.org/2009/03/make-your-annual-report-a-comic/comment-page-1/#comment-449 Sofia Mon, 23 Mar 2009 16:22:49 +0000 http://www.facilitatingchange.org/?p=537#comment-449 Amazing! Got gooseflesh reading this, thinking maybe one day I could work there. :) Amazing! Got gooseflesh reading this, thinking maybe one day I could work there. :)

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