Too many annual reports offer 'same old garbage,' investment banker says

Article Abstract:

Although a survey of 116 Fortune 500 companies shows that corporate financial officers are satisfied with their annual reports, two investment bankers say that annual reports should be much more informative. Concise and effective annual reports answer the basic question: 'Why should I buy or hold this stock?' Annual reports should provide the following: a clear, unified theme throughout; an explanation of the nature of the business; a sense that management is in control and that future prospects are sound; five years of earnings models; data related to income statement, itemizing depreciation, research and development expenses, and currency adjustments; and a moderate use of design elements.

Methods, Surveys, Corporation reports, Company reports, Corporate officers

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Board of directors needs to be strong, impartial, to protect financial execs

Article Abstract:

Murray Weidenbaum, former economic advisor to President Reagan, suggests that corporations hire more directors from outside the company to achieve a greater degree of impartiality in decision making. By having outside directors (perhaps even an outside director as chairman of the board), shareholders' interests will be objectively represented, and top corporate executives will be protected against legal or financial liability stemming from major corporate decisions. In addition, Congress is considering takeover related bills, one of which may require a majority of shareholders to approve offers for more than 20 percent of a company's outstanding shares.

Laws, regulations and rules, Corporate directors, Economic policy, Appointments, resignations and dismissals, Executives, United States. Congress, Weidenbaum, Murray L.

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Treasury managers eye writing software in-house

Article Abstract:

Some companies, such as Hallmark Cards in Kansas City, Missouri, are choosing to write their own treasury management programs, rather than hiring outside consultants or purchasing existing packages. Hallmark chose to hire new MBAs with computer programming experience to write and design treasury management system software. By having treasury staff members who are computer experts, companies can save on consulting fees, achieve customized programs, and trouble shoot problems more efficiently.

Software, Cash management, Hallmark Corp.

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