Annual Report Quotes

We would report the exact details of her letter to her modiste, but we fear you would be overcome. Suffice to say, the money outlaid upon hats rivals the annual income of a large estate or small country; We fail to see why one small woman needs so many hats. She is unlikely to be concealing additional heads upon her person.

Saint Bartleby's School for Young Gentlemen Annual Report Student: Artemis Fowl II Year: First Fees: Paid Tutor: Dr Po Language Arts As far as I can tell, Artemis has made absolutely no progress since the beginning of the year. This is because his abilities are beyond the scope of my experience. He memorizes and understands Shakespeare after a single reading. He finds mistakes in every exercise I administer, and has taken to chuckling gently when I attempt to explain some of the more complex texts. Next year I intend to grant his request and give him a library pass during my class. Mathematics Artemis is an infuriating boy. One day he answers all my questions correctly, and the next every answer is wrong. He calls this an example of the chaos theory, and says that he is only trying to prepare me for the real world. He says the notion of infinity is ridiculous. Frankly, I am not trained to deal with a boy like Artemis. Most of my pupils have trouble counting without the aid of their fingers. I am sorry to say, there is nothing I can teach Artemis about mathematics, but someone should teach him some manners. Social Studies Artemis distrusts all history texts, because he says history was written by the victors. He prefers living history, where survivors of certain events can actually be interviewed. Obviously this makes studying the Middle Ages somewhat difficult. Artemis has asked for permission to build a time machine next year during double periods so that the entire class may view Medieval Ireland for ourselves. I have granted his wish and would not be at all surprised if he succeeded in his goal. Science Artemis does not see himself as a student, rather as a foil for the theories of science. He insists that the periodic table is a few elements short and that the theory of relativity is all very well on paper but would not hold up in the real world, because space will disintegrate before lime. I made the mistake of arguing once, and young Artemis reduced me to near tears in seconds. Artemis has asked for permission to conduct failure analysis tests on the school next term. I must grant his request, as I fear there is nothing he can learn from me. Social & Personal Development Artemis is quite perceptive and extremely intellectual. He can answer the questions on any psychological profile perfectly, but this is only because he knows the perfect answer. I fear that Artemis feels that the other boys are too childish. He refuses to socialize, preferring to work on his various projects during free periods. The more he works alone, the more isolated he becomes, and if he does not change his habits soon, he may isolate himself completely from anyone wishing to be his friend, and, ultimately, his family. Must try harder.

On my desk is an appeal from the National Museum of American Jewish History in Philadelphia. It asks me to become a sponsor and donor of this soon-to-be-opened institution, while an accompanying leaflet has enticing photographs of Bob Dylan, Betty Friedan, Sandy Koufax, Irving Berlin, Estee Lauder, Barbra Streisand, Albert Einstein, and Isaac Bashevis Singer. There is something faintly kitsch about this, as there is in the habit of those Jewish papers that annually list Jewish prize-winners from the Nobel to the Oscars. (It is apparently true that the London Jewish Chronicle once reported the result of a footrace under the headline 'Goldstein Fifteenth.') However, I think I may send a contribution. Other small 'races' have come from unpromising and hazardous beginnings to achieve great things—no Roman would have believed that the brutish inhabitants of the British Isles could ever amount to much—and other small 'races,' too, like Gypsies and Armenians, have outlived determined attempts to eradicate and exterminate them. But there is something about the persistence, both of the Jews and their persecutors, that does seem to merit a museum of its own.

He worked in Interim Reports, before being upgraded to Annual Reports.

the 2012 annual report of the American Association of Poison Control Centers lists OTC cough-cold medications among the top three products associated with fatality in children under age five.

Later that same spring of 1872, in his own annual report, Roebling would write that most men got over their troubles either by suffering for a long time or "by applying the heroic mode of returning into the caisson at once as soon as pains manifested themselves.

Again and again workers told me that they are under tremendous pressure not to report injuries. The annual bonuses of plant foremen and supervisors are often based in part on the injury rate of their workers. Instead of crating a safer workplace, these bonus schemes encourage slaughterhouse managers to make sure that accidents and injuries go unreported. Missing fingers, broken bones, deep lacerations and amputated limbs are difficult to conceal from authorities. But the dramatic and catastrophic injuries in a slaughterhouse are greatly outnumbered by less visible, though no less debilitating, ailments: torn muscles, slipped disks, pinched nerves.

When I had the honor of being included in the Smithsonian’s National Portrait Gallery in 2019, I sat for a painting with four objects on a shelf behind me in the composition: a photo of my parents; a photo of Raj, Preetha, and Tara; a Yale SOM baseball cap; and a PepsiCo annual report with the words “Performance with Purpose” on the cover.

American spy agencies seemed rattled by the experiments too. I was shocked when the next Worldwide Threat Assessment — the annual report presented by the U.S. intelligence community to the Senate Armed Services Committee — described genome editing as one of the six weapons of mass destruction and proliferation that nation-states might try to develop, at great risk to America.

Table 1-1 Sources of Private Contributions: 2011 Source of Income Amount of Total Giving in Billions Percentage of Total Giving Individuals $217.79 73% Foundations $41.67 14% Bequests $24.41 8% Corporations $14.55 5% Total $298.42 100% Source: Giving USA: The Annual Report on Philanthropy for the Year 2011 (2012). Chicago: Giving USA Foundation. Fundraising for fun and profit

The motivation for taking on debt is to buy assets or claims rising in price. Over the past half-century the aim of financial investment has been less to earn profits on tangible capital investment than to generate “capital” gains (most of which take the form of debt-leveraged land prices, not industrial capital). Annual price gains for property, stocks and bonds far outstrip the reported real estate rents, corporate profits and disposable personal income after paying for essential non-discretionary spending, headed by FIRE [Finance, Insurance, Real Estate]-sector charges.

Both the Environmental Protection Agency and the Department of the Interior removed from their websites the links to climate change data. The USDA removed the inspection reports of businesses accused of animal abuse by the government. The new acting head of the Consumer Financial Protection Bureau, Mick Mulvaney, said he wanted to end public access to records of consumer complaints against financial institutions. Two weeks after Hurricane Maria, statistics that detailed access to drinking water and electricity in Puerto Rico were deleted from the FEMA website. In a piece for FiveThirtyEight, Clare Malone and Jeff Asher pointed out that the first annual crime report released by the FBI under Trump was missing nearly three-quarters of the data tables from the previous year.

These poor, plain men, dwellers upon the lonely sands of Hatteras, took their lives in their hands, and, at the most imminent risk crossed the most tumultuous sea…and all for what? That others might live to see home and friends.

It is ironic that the Great Depression was produced by government but was blamed on the private enterprise system. The Federal Reserve System explained in its 1933 annual report how much worse things would have been if the Federal Reserve had not behaved so well, yet the Federal Reserve was the chief culprit in making the depression as deep as it was. So the government produced the depression, the private enterprise system got blamed for it, and there was a tremendous change in attitudes.

In its 2013 annual report on “Global Risks,” the World Economic Forum (host of the annual superelite gathering in Davos), stated plainly, “Although the Alaskan village of Kivalina—which faces being ‘wiped out’ by the changing climate—was unsuccessful in its attempts to file a US$ 400 million lawsuit against oil and coal companies, future plaintiffs may be more successful. Five decades ago, the U.S. tobacco industry would not have suspected that in 1997 it would agree to pay $368 billion in health-related damages.

Just as there are those who accept every UFO report at face value, there are also those who dismiss the idea of alien visitation out of hand and with great passion. It is, they say, unnecessary to examine the evidence, and “unscientific” even to contemplate the issue. I once helped to organize a public debate at the annual meeting of the American Association for the Advancement of Science between proponent and opponent scientists of the proposition that some UFOs were spaceships; whereupon a distinguished physicist, whose judgment in many other matters I respected, threatened to sic the Vice President of the United States on me if I persisted in this madness. (Nevertheless, the debate was held and published, the issues were a little better clarified, and I did not hear from Spiro T. Agnew.)

Read the notes.Never buy a stock without reading the footnotes to the financial statements in the annual report. Usually labeled “summary of significant accounting policies,” one key note describes how the company recognizes revenue, records inventories, treats installment or contract sales, expenses its marketing costs, and accounts for the other major aspects of its business.7 In the other footnotes, watch for disclosures about debt, stock options, loans to customers, reserves against losses, and other “risk factors” that can take a big chomp out of earnings

at the last estimate, there were roughly only twenty prosecutions of malicious rape complaints per year,4 while there are approximately 7,000 annual complaints of rape made to the police.5 Under-reporting of sexual offences is widely accepted to be numerically far more prevalent than malicious complaints.

In 1998, the New York Times reported that “in the [annual UCLA] survey taken at the start of the fall semester, 74.9 percent of freshmen chose being well off as an essential goal and 40.8 percent chose developing a philosophy. In 1968, the numbers were reversed, with 40.8 percent selecting financial security and 82.5 percent citing the importance of developing a philosophy.”4

Are you saying people aren’t interested in the truth?” “Listen, what’s true to a lot of people is that they need the money for the rent by the end of the week. Look at Mr. Ron and his friends. What’s the truth mean to them? They live under a bridge!” She held up a piece of lined paper, crammed edge to edge with the careful looped handwriting of someone for whom holding a pen was not a familiar activity. “This is a report of the annual meeting of the Ankh-Morpork Caged Birds Society,” she said. “They’re just ordinary people who breed canaries and things as a hobby. Their chairman lives next door to me, which is why he gave me this. This stuff is important to him! My goodness, but it’s dull. It’s all about Best of Breed and some changes in the rules about parrots which they argued about for two hours. But the people who were arguing were people who mostly spend their day mincing meat or sawing wood and basically leading little lives that are controlled by other people, do you see? They’ve got no say in who runs the city but they can damn well see to it that cockatoos aren’t lumped in with parrots. It’s not their fault. It’s just how things are. Why are you sitting there with your mouth open like that?

Consequently, in 1958 the Chinese government was informed that annual grain production was 50 per cent more than it actually was. Believing the reports, the government sold millions of tons of rice to foreign countries in exchange for weapons and heavy machinery, assuming that enough was left to feed the Chinese population. The result was the worst famine in history and the death of tens of millions of Chinese.3

Although a 2015 Pew Research Center report53 found that equal numbers of American men and women play video games, only 3.3%54 of the games spotlighted at press conferences during 2016’s E3 (the world’s largest annual gaming expo) starred female protagonists. This is actually lower than the figure for 2015 which, according to Feminist Frequency, was 9%.55 If female playable characters do make it into a game they are still often framed as just another feature.

Apropos of Mein Kampf, I remember an amusing incident which Ishall relate here, though it is anticipating my story by several years. It took place at the Nazi Party Congress at Nurnberg in 1927. I had been a member of the Party for two-and-a-half years, and presented the annual report. In the course of it I quoted a few phrases from Mein Kampf and this caused a certain sensation. That evening, at dinner with several colleagues Feder Kaufmann Koch and others, they asked me if I had really read the book, with which not one of them seemed to be familiar I admitted having quoted some significant passages from it without bothering my head about the context. This caused general amusement and it was agreed that the first person who joined us who had read Mein Kampf should pay the bill for us all. Gregor answer when he arrived was a resounding no. Goebbels shook his head guiltily, Goering burst into loud laughter and Count Reventlow excused himself on the ground that he had no time. No body had read Mein Kampf, so everybody had to pay his own bill.

Consequently, in 1958 the Chinese government was informed that annual grain production was 50 per cent more than it actually was. Believing the reports, the government sold millions of tons of rice to foreign countries in exchange for weapons and heavy machinery, assuming that enough was left to feed the Chinese population. The result was the worst famine in history and the death of tens of millions of Chinese.3 Meanwhile, enthusiastic reports of China’s farming miracle reached audiences throughout the world. Julius Nyerere, the idealistic president of Tanzania, was deeply impressed by the Chinese success. In order to modernise Tanzanian agriculture, Nyerere resolved to establish collective farms on the Chinese model. When peasants objected to the plan, Nyerere sent the army and police to destroy traditional villages and forcibly relocate hundreds of thousands of peasants onto the new collective farms. Government propaganda depicted the farms as miniature paradises, but many of them existed only in government documents. The protocols and reports written in the capital Dar es Salaam said that on such-and-such a date the inhabitants of such-and-such village were relocated to such-and-such farm. In reality, when the villagers reached their destination, they found absolutely nothing there. No houses, no fields, no tools. Officials nevertheless reported great successes to themselves and to President Nyerere. In fact, within less than ten years Tanzania was transformed from Africa’s biggest food exporter into a net food importer that could not feed itself without external assistance. In 1979, 90 per cent of Tanzanian farmers lived on collective farms, but they generated only 5 per cent of the country’s agricultural output.4

Of 76,000 buildings in Hiroshima 70,000 were damaged or destroyed, 48,000 totally. “It is no exaggeration to say,” reports the Japanese study, “that the whole city was ruined instantaneously.”2679 Material losses alone equaled the annual incomes of more than 1.1 million people. “In Hiroshima many major facilities—prefectural office, city hall, fire departments, police stations, national railroad stations, post offices, telegram and telephone offices, broadcasting station, and schools—were totally demolished or burned. Streetcars, roads, and electricity, gas, water, and sewage facilities were ruined beyond use.

Tho' I seldom attended any public worship, I had still an opinion of its propriety, and of its utility when rightly conducted, and I regularly paid my annual subscription for the support of the only Presbyterian minister or meeting we had in Philadelphia. He us'd to visit me sometimes as a friend, and admonished me to attend his administrations, and I was now and then prevail'd on to do so, once for five Sundays successively. Had he been in my opinion a good preacher, perhaps I might have continued, [65] notwithstanding the occasion I had for the Sunday's leisure in my course of study; but his discourses were chiefly either polemic arguments, or explications of the peculiar doctrines of our sect, and were all to me very dry, uninteresting, and unedifying, since not a single moral principle was inculcated or enforc'd, their aim seeming to be rather to make us Presbyterians than good citizens. At length he took for his text that verse of the fourth chapter of Philippians, "Finally, brethren, whatsoever things are true, honest, just, pure, lovely, or of good report, if there be any virtue, or any praise, think on these things." And I imagin'd, in a sermon on such a text, we could not miss of having some morality. But he confin'd himself to five points only, as meant by the apostle, viz.: 1. Keeping holy the Sabbath day. 2. Being diligent in reading the holy Scriptures. 3. Attending duly the publick worship. 4. Partaking of the Sacrament. 5. Paying a due respect to God's ministers. These might be all good things; but, as they were not the kind of good things that I expected from that text, I despaired of ever meeting with them from any other, was disgusted, and attended his preaching no more.

Docketing a judgment slapped it on a tenant’s credit report. If the tenant came to own any property in Milwaukee County in the next decade, the docketed judgment placed a lien on that property, severely limiting a new homeowner’s ability to refinance or sell.14 To landlords, docketing a judgment was a long-odds bet on a tenant’s future. Who knows, maybe somewhere down the line a tenant would want to get her credit in order and would approach her old landlord, asking to repay the debt. “Debt with interest,” the landlord could respond, since money judgments accrued interest at an annual rate that would be the envy of any financial portfolio: 12 percent. For the chronically and desperately poor whose credit was already wrecked, a docketed judgment was just another shove deeper into the pit. But for the tenant who went on to land a decent job or marry and then take another tentative step forward, applying for student loans or purchasing a first home—for that tenant, it was a real barrier on the already difficult road to self-reliance and security.

The tone of those negotiations was very contentious,” says Becky Sauerbrunn, who served on the national team’s CBA committee and participated in most of the negotiation sessions. “They didn’t go anywhere. We would go into those meetings and say we want equal pay and they would say you’re not really generating the revenue to deserve equal pay to the men. And it just went around and around like that.” But then on March 7, Rich Nichols saw something that caught him by surprise. It was an article by Jonathan Tannenwald of the Philadelphia Inquirer that broke down financial numbers contained in U.S. Soccer’s General Annual Meeting report. The report itself was released quietly on U.S. Soccer’s website without fanfare—Tannenwald was the only journalist for a major newspaper who picked up on it. What the U.S. Soccer report showed—and what in turn the Philadelphia Inquirer explained—was that U.S. Soccer initially budgeted a $420,000 loss for 2016 but changed their numbers to expect a profit of almost $18 million, based largely on the gate receipts and merchandise sales of the women’s national team during the 2015 Women’s World Cup victory tour.

As we’ve seen, one of the most frequently pursued paths for achievement-minded college seniors is to spend several years advancing professionally and getting trained and paid by an investment bank, consulting firm, or law firm. Then, the thought process goes, they can set out to do something else with some exposure and experience under their belts. People are generally not making lifelong commitments to the field in their own minds. They’re “getting some skills” and making some connections before figuring out what they really want to do. I subscribed to a version of this mind-set when I graduated from Brown. In my case, I went to law school thinking I’d practice for a few years (and pay down my law school debt) before lining up another opportunity. It’s clear why this is such an attractive approach. There are some immensely constructive things about spending several years in professional services after graduating from college. Professional service firms are designed to train large groups of recruits annually, and they do so very successfully. After even just a year or two in a high-level bank or consulting firm, you emerge with a set of skills that can be applied in other contexts (financial modeling in Excel if you’re a financial analyst, PowerPoint and data organization and presentation if you’re a consultant, and editing and issue spotting if you’re a lawyer). This is very appealing to most any recent graduate who may not yet feel equipped with practical skills coming right out of college. Even more than the professional skill you gain, if you spend time at a bank, consultancy, or law firm, you will become excellent at producing world-class work. Every model, report, presentation, or contract needs to be sophisticated, well done, and error free, in large part because that’s one of the core value propositions of your organization. The people above you will push you to become more rigorous and disciplined, and your work product will improve across the board as a result. You’ll get used to dressing professionally, preparing for meetings, speaking appropriately, showing up on time, writing official correspondence, and so forth. You will be able to speak the corporate language. You’ll become accustomed to working very long hours doing detail-intensive work. These attributes are transferable to and helpful in many other contexts.

Let me illustrate what I mean by “the opportunity costs of working.” I was recently in the market for domestic help, and a young woman I wanted to hire as a housekeeper refused the job because I wouldn’t pay her under the table. No, she wasn’t an illegal alien—she just wanted me to treat her as one. The reason she made this unusual demand was that if she had income to report, she would suddenly have to start making student loan payments and paying taxes. To work for me would have cost her hundreds of dollars every month, creating a big enough hit to her bottom line that it wasn’t worth working anymore. (Perhaps she wasn’t savvy enough to apply for all of the available government programs, but she could have just as well pointed out that my hiring her would have cost her thousands annually in food stamps and other welfare payments.) Just imagine—there are so many unemployed people today, and yet government is making it too expensive for anyone to come and clean your floors for a fair wage. (By the way, the job I offered paid close to $40,000 per year.) Here was someone who admitted that reality quite bluntly—and I still regret the fact that I couldn’t hire her legally.

In 1786, Jefferson, then the American ambassador to France, and Adams, then the American ambassador to Britain, met in London with Sidi Haji Abdul Rahman Adja, the ambassador to Britain. The Americans wanted to negotiate a peace treaty based on Congress’ vote to appease. During the meeting Jefferson and Adams asked the ambassador why Muslims held so much hostility towards America, a nation with which they had no previous contacts. In a later meeting with the American Congress, the two future presidents reported that Ambassador Sidi Haji Abdul Rahman Adja had answered that Islam “was founded on the Laws of their Prophet, that it was written in their Qur’an that all nations who should not have acknowledged their authority were sinners, that it was their right and duty to make war upon them wherever they could be found, and to make slaves of all they could take as Prisoners, and that every Musselman (Muslim) who should be slain in Battle was sure to go to Paradise.” For the following 15 years, the American government paid the Muslims millions of dollars for the safe passage of American ships or the return of American hostages. Most Americans do not know that the payments in ransom and Jizyah tribute amounted to 20 percent of United States government annual revenues in 1800. Not long after Jefferson’s inauguration as president in 1801, he dispatched a group of frigates to defend American interests in the Mediterranean, and informed Congress. Declaring that America was going to spend “millions for defense but not one cent for tribute,” Jefferson pressed the issue by deploying American Marines and many of America’s best warships to the Muslim Barbary Coast. The USS Constitution, USS Constellation, USS Philadelphia, USS Chesapeake, USS Argus, USS Syren and USS Intrepid all fought. In 1805, American Marines marched across the dessert from Egypt into Tripolitania, forcing the surrender of Tripoli and the freeing of all American slaves. During the Jefferson administration, the Muslim Barbary States, crumbled as a result of intense American naval bombardment and on shore raids by Marines. They finally agreed officially to abandon slavery and piracy. Jefferson’s victory over the Muslims lives on today in the Marine Hymn with the line “From the halls of Montezuma to the shores of Tripoli, we will fight our country’s battles on the land as on the sea.” It wasn’t until 1815 that the problem was fully settled by the total defeat of all the Muslim slave trading pirates.

It is very important to note, however, that the only segment of the population from whom changing our social and economic conditions in the ways that prevent violence would exact a higher cost would be the extremely wealthy upper, or ruling, class — the wealthiest one per cent of the population (which in the United States today controls some 39 per cent of the total wealth of the nation, and 48 per cent of the financial wealth, as shown by Wolff in Top Heavy (1996). The other 99 per cent of the population — namely, the middle class and the lower class — would benefit, not only form decreased rates of violence (which primarily victimize the very poor), but also from a more equitable distribution of the collective wealth and income of our unprecedentedly wealthy societies. Even on a worldwide scale, it would require a remarkably small sacrifice from the wealthiest individuals and nations to raise everyone on earth, including the populations of the poorest nations, above the subsistence level, as the United Nations Human Development Report 1998, has shown. I emphasize the wealthiest individuals as well as nations because, as the U.N. report documents, a tiny number of the wealthiest individuals actually possess wealth on a scale that is larger than the annual income of most of the nations of the earth. For example, the three richest individuals on earth have assets that exceed the combined Gross Domestic Product of the fortyeight poorest countries! The assets of the 84 richest individuals exceed the Gross Domestic Product of the most populous nation on earth, China, with 1.2 billion inhabitants. The 225 richest individuals have a combined wealth of over $1 trillion, which is equal to the annual income of the poorest 47 per cent of the world's population, or 2.5 billion people. By comparison, it is estimated that the additional cost of achieving and maintaining universal access to basic education for all, basic health care for all, reproductive health care for all women, adequate food for all and safe water and sanitation for all is roughly $40 billion a year. This is less than 4 per cent of the combined wealth of the 225 richest people in the world. It has been shown throughout the world, both internationally and intranationally, that reducing economic inequities not only improves physical health and reduces the rate of death from natural causes far more effectively than doctors, medicines, and hospitals; it also decreases the rate of death from both criminal and political violence far more effectively than any system of police forces, prisons, or military interventions ever invented.

Everywhere you look with this young lady, there’s a purity of motivation,” Shultz told him. “I mean she really is trying to make the world better, and this is her way of doing it.” Mattis went out of his way to praise her integrity. “She has probably one of the most mature and well-honed sense of ethics—personal ethics, managerial ethics, business ethics, medical ethics that I’ve ever heard articulated,” the retired general gushed. Parloff didn’t end up using those quotes in his article, but the ringing endorsements he heard in interview after interview from the luminaries on Theranos’s board gave him confidence that Elizabeth was the real deal. He also liked to think of himself as a pretty good judge of character. After all, he’d dealt with his share of dishonest people over the years, having worked in a prison during law school and later writing at length about such fraudsters as the carpet-cleaning entrepreneur Barry Minkow and the lawyer Marc Dreier, both of whom went to prison for masterminding Ponzi schemes. Sure, Elizabeth had a secretive streak when it came to discussing certain specifics about her company, but he found her for the most part to be genuine and sincere. Since his angle was no longer the patent case, he didn’t bother to reach out to the Fuiszes. — WHEN PARLOFF’S COVER STORY was published in the June 12, 2014, issue of Fortune, it vaulted Elizabeth to instant stardom. Her Journal interview had gotten some notice and there had also been a piece in Wired, but there was nothing like a magazine cover to grab people’s attention. Especially when that cover featured an attractive young woman wearing a black turtleneck, dark mascara around her piercing blue eyes, and bright red lipstick next to the catchy headline “THIS CEO IS OUT FOR BLOOD.” The story disclosed Theranos’s valuation for the first time as well as the fact that Elizabeth owned more than half of the company. There was also the now-familiar comparison to Steve Jobs and Bill Gates. This time it came not from George Shultz but from her old Stanford professor Channing Robertson. (Had Parloff read Robertson’s testimony in the Fuisz trial, he would have learned that Theranos was paying him $500,000 a year, ostensibly as a consultant.) Parloff also included a passage about Elizabeth’s phobia of needles—a detail that would be repeated over and over in the ensuing flurry of coverage his story unleashed and become central to her myth. When the editors at Forbes saw the Fortune article, they immediately assigned reporters to confirm the company’s valuation and the size of Elizabeth’s ownership stake and ran a story about her in their next issue. Under the headline “Bloody Amazing,” the article pronounced her “the youngest woman to become a self-made billionaire.” Two months later, she graced one of the covers of the magazine’s annual Forbes 400 issue on the richest people in America. More fawning stories followed in USA Today, Inc., Fast Company, and Glamour, along with segments on NPR, Fox Business, CNBC, CNN, and CBS News. With the explosion of media coverage came invitations to numerous conferences and a cascade of accolades. Elizabeth became the youngest person to win the Horatio Alger Award. Time magazine named her one of the one hundred most influential people in the world. President Obama appointed her a U.S. ambassador for global entrepreneurship, and Harvard Medical School invited her to join its prestigious board of fellows.

The requirement for the United States to craft a national security strategy (NSS) document was first codified in the National Security Act of 1947, and amended by the Goldwater-Nichols Department of Defense Reorganization Act of 1986. The 1986 amendment requires the President to submit the document on an annual basis to Congress to provide a comprehensive report on U.S. national security strategy. Both pieces of legislation mandate that the strategy include a "comprehensive description and discussion of worldwide interests, goals, and objectives...that are vital to the national security of the United States." It would also address foreign policy, world wide military commitments, U.S. national defense capabilities, short- and long-term uses of the elements of national power, and the requirement to have the strategy transmitted to Congress in both classified and unclassified form. A number of national security strategies were developed over time prior to the Goldwater-Nichols legislation, to include what many believe was the most significant grand strategy of the era, NSC-68, the key containment strategy against Soviet and Chinese communism. All were crafted during the pre-Goldwater-Nichals Act period at the classified level.

According to the United Nations annual report released Friday, most of the forcibly displaced worldwide are homeless in their own countries and are known as internally displaced persons. An additional 16.7 million people are refugees in another land. Astonishingly, half are children.

Clip This Article on Location 1397 | Added on Monday, September 1, 2014 4:10:39 PM REVIEW & OUTLOOK An $8.3 Billion Rebuke to the FDA Roche buys a drug approved in Europe but not in America. 359 words Amid this summer's M&A fever, Roche's agreement Monday to buy the San Francisco biotech InterMune deserves special notice. The tie-up is an $8.3 billion guided missile into the fortified bunker that is the Food and Drug Administration. InterMune has never turned a profit in 16 years of existence and other than its clinical expertise the company holds a single asset: an idea for treating a lethal lung disorder called idiopathic pulmonary fibrosis with no known cause, cure or approved therapy—at least in the U.S. An InterMune drug called pirfenidone that slows the progression of irreversible lung scarring is on the market in Europe, Japan, Canada and even China. Bloomberg News But the FDA refused to approve pirfenidone in 2010, despite the 40,000 Americans who are killed annually by lung fibrosis and a positive recommendation from its outside scientific advisory committee. The agency brass claimed the evidence was statistically unsatisfactory, when one clinical trial was inconclusive but another showed strong benefits such as improved lung function. The results of the third trial the FDA ordered were reported earlier this year and confirmed that pirfenidone is even more of a treatment advance than it seemed in 2010, and may prolong life. The agency is expected, finally, to approve the medicine in November. Roche is paying a 38% premium over Friday's closing share price, and 63% over trading before the news of InterMune's corporate suitors broke a few weeks ago. The deal is a big vote of confidence in pirfenidone, not least because a rival lung fibrosis drug is awaiting U.S. approval. Then again, maybe that drug's maker, the German pharmaceutical consortium Boehringer Ingelheim, will have the same FDA experience as InterMune. The Roche deal is a tacit reprimand to the FDA's unscientific and uncompassionate—and wrong—2010 defenestration. Amid medical ambiguity about effectiveness, the humane option is to allow a drug to come to patients and follow on with more research, in particular for a drug with few side effects. Pulmonary fibrosis is a protracted death sentence of three to five years. The FDA denied tens of thousands of dying people better and possibly longer lives in the time they had left. ==========

Health,1 emphasised this idea of health as an investment rather than an expenditure. The 2001 report of the Commission on Macroeconomics and Health2 took this idea further, showing that a 10% improvement in life expectancy at birth is associated with annual economic growth increases of 0·3–0·4%.

The Fed is still on the same track.” Whatever you call it, the benign economic environment has supported a bull market since 2009, and though there were a few rocky days last week, the main market ingredients seemed to remain in place. For example, on Wednesday a government report on gross domestic product in the second quarter showed that the economy was growing smartly, even rapidly, at a 4 percent annualized rate; yet the Federal Reserve declared that inflation was low enough to allow the slowly moderating pace of its expansive monetary policy to remain on track. In a statement on Wednesday, the Federal Open Market Committee said the central bank would continue to ratchet down its bond purchases as planned, yet it also said its policies would “maintain downward pressure on longer-term interest rates, support mortgage markets, and help to make broader financial conditions more accommodative.” The Fed already holds more than $4 trillion in bonds, up from less than $1 billion when the financial crisis started, and it’s still buying more.

Increased investment by businesses and a slightly improved trade picture prompted the revision, which lifted the estimated annual rate of growth in April, May and June to 4.2 percent from the government's initial reading of 4 percent in late July. Since the economy emerged from the recession five years ago, companies have been hesitant to spend heavily on new capacity, but these figures and other recent data indicate that is finally changing. In a separate report Thursday, the Labor Department said initial claims for unemployment benefits dropped last week by 1,000, to 298,000, helping push the eight-week average for new claims to below 300,000 for the first time since April 2006, well before the onset of the recession.

Frontex, a Warsaw-based agency, said in an annual report earlier this month that the number of asylum seekers arriving, mainly in Italy, from North Africa in 2013 was 40,000. Ewa Moncure, a spokeswoman for the agency, said in a telephone interview Friday that unofficial figures for 2014 indicated that 37,000 migrants had been detected crossing from Libya and Egypt, while reports in the Italian media suggested that the figure for the same period was closer to 40,000.

A fuller picture of the year-end trends emerged Tuesday when the Commerce Department, in separate reports, said the U.S. economy expanded at a 5% seasonally adjusted annual rate in the third quarter, its strongest pace in 11 years, and reported that consumer spending accelerated last month amid rising incomes and falling gasoline prices.

Seychelles said at U.N. climate talks. The report was bound to sharpen disputes in Lima over who pays the bills for the impacts of global warming, whose primary cause is the burning of coal, oil and gas but which also includes deforestation. It has long been the thorniest issue at the U.N. negotiations, now in their 20th round. Rich countries have pledged to help the developing world convert to clean energy and adapt to shifts in global weather that are already adversely affecting crops, human health and economies. But poor countries say they’re not seeing enough cash. Projecting the annual costs that poor countries will face by 2050 just to adapt, the United Nations Environment Program report deemed the previous estimate of $70 billion to $100 billion “a significant underestimate.” It had been based on 2010 World Bank numbers.

In the 1930s hourly wages for the majority of Germans were counted not in Reichsmarks, let alone PPP-adjusted dollars of 1990, but in Pfennigs. Only the most highly paid workers such as skilled machinists or typesetters earned more than one Reichsmark per hour. At the other end of the scale, the lowest-paid male workers in sawmills and textile factories were on hourly rates of 59 Pfennigs.19 Unskilled women workers in textiles or the food industries could expect no more than 42-5 Pfennigs. In 1936, with the German economy at full employment, 14.5 million people, 62 per cent of all German taxpayers, reported annual incomes of less than 1,500 Reichsmarks, corresponding to weekly earnings of just over 30 Reichsmarks and hourly rates of about 141 60 Pfennigs.20 A further 21 per cent, or 5 million white-collar and blue-collar workers, reported annual incomes of between 1,500 and 2,400

Albert Edwards admits that his “über bear” reputation is well deserved, at least with respect to equities, an asset class he has dismissed for the last 10 years. His bearishness has not abated, and for the coming year, he fears that “deflation will overwhelm the west.” Markets, he said, will riot. Edwards is the chief global strategist for Société Générale and he spoke at that firm’s annual global strategy conference in London on January 13. Andrew Lathrope, the firm’s head of global quantitative strategy, and Dr. Marc Faber, the publisher of the Gloom Boom & Doom Report, also spoke.

Company To Experiment With Valuing Employees 148 words SAN DIEGO—Cautioning that the initiative was being instituted on a trial basis only, Forrest Logistics CEO Wayne Gartner announced Thursday that the company had recently begun experimenting with valuing its employees. “For the next three months, we’ll be treating our workers as skilled professionals we appreciate having on our staff instead of as disposable laborers whose morale could not matter less to us,” said Gartner, telling reporters that during this provisional period, management would be assessing the long-term viability of constructively addressing employee concerns and creating an overall positive work environment. “This is completely new to us, obviously, but that’s why we’re just testing it out. If need be, we can go back to essentially telling our workers that they’re lucky we hired them in the first place.” At press time, the initiative had been canceled after estimates revealed it would cost the company upwards of $2,500 annually.

I went back and read all the Berkshire Hathaway annual reports. My life changed course as a result.

Tax delays are $62bn secret to Buffett’s success Berkshire Hathaway’s annual report highlights investor’s skill at deferring payments to put cash to work elsewhere STEPHEN FOLEY — NEW YORK | 935 words Warren Buffett is one of the most famous, and certainly the richest, proponents of raising taxes.

BEHIND THE BILLIONS 172 words After our annual ranking of the world’s wealthiest was published, wealth reporter Chase Peterson-Withorn, who helped research and compile FORBES’ 2015 Billionaires list, hopped on Reddit for an “Ask Me Anything” chat. MATADERO Has anyone on the Billionaires list attended community college or

AICPA peer review checklists are free and can be obtained by Googling “AICPA Peer Review Checklist.” Use the most recent checklist (they often change). Minimum Documentation SSARS 21 states that the minimum documentation requirements are as follows: Establish your firm’s minimum work paper documentation. What work papers are required for each type of engagement? Will your firm require the preparer to sign off on each work paper? When the partner or manager reviews the work papers, will she initial each reviewed work paper or just a summary review sheet? Authority to Issue Determine who has the authority to issue financial statements and compilation reports. Here are a few questions to consider: •Who has authority to issue financial statements using the preparation guidance? •Who has authority to issue financial statements using the compilation guidance? •Will your firm require a second partner review of each initial preparation engagement? •Will annual compilation reports be reviewed by a second partner? Quality Control - A Simple Summary •Well-designed templates will: ·Enhance your firm’s compliance with professional standards, and ·Increase your efficiency •Create templates for those work products that you expect to issue most often (e.g., tax-basis preparation financial statements) •In developing your templates: ·Include the minimum required work papers and reports ·Vet your templates using the AICPA peer review checklists •Determine who has the authority to issue different work products (e.g., preparation, compilation, monthly, annual)

In order for a person to work at a church legally as an independent contractor, we believe it is prudent to consider the following guidelines:   ·       The church cannot substantially direct the person’s duties; the church can only give them overall tasks to complete.   ·       The church cannot control or set their hours that they work.   ·       Since their “company” provides the service, they can send anyone to do the job.   ·       They cannot have an office at the church that is their primary office.   ·       It cannot be their only source of income.   ·       The church needs to have a written contract in place including cost, delivery of Services, duration (i.e. six months, one year, etc.) and a termination clause.   ·       They cannot participate in any employee benefits plans (insurance, retirement plans, etc).   ·       The contractor must provide annual proof of worker’s comp and liability insurance naming the church as additionally insured or the church could be held liable in the event of a claim.   ·       The church must issue a 1099 at the end of the year for all contract wages paid if the total amount for the year exceeds $600.00 to one contractor. We strongly recommend that no payments are made until an accurate and fully completed W-9 is completed by the contractor and on file at the church.        Given these requirements, many workers such as those in the nursery, kitchens, and other service areas are not 1099 contractors, but employees.     Regarding interim pastors, there is disagreement over whether they should receive a W-2 or 1099. Factors such as length of service, who supervises them, and whether they are a contractor, come into play in the decision on how to report their salary. For the best practice we recommend always using the W-2 to report salaries, but seeking tax and legal counsel would be wise to avoid any future IRS issues.      While there are advantages to the church to pay independent contractors who regularly work for the church such as avoiding the need to pay the employer's part of the FICA tax and the ease of terminating their services, we would recommend against their regular use.      We recommend against the use of independent contractors (that regularly work at the church) because we believe it can create the following problems for the church:   ·       Less control over the position   ·       Leaves the church open to an IRS challenge, which the church only has a 50/50 chance of defending, not to mention the cost and hassle of litigation   ·       In the event of insurance claims, the church may encounter issues with worker’s compensation coverage or liability insurance coverage such as sexual misconduct, etc.   ·       The church is open to contract disputes with the independent contractor   ·       Based on how the individual/company is filing their taxes, it could bring an unwanted tax audit to the church        Our conclusion is that we do not see enough cost-saving advantages for the church to move in this direction. It also creates unnecessary red flags for the IRS. The other looming question is, why is this such an important issue for such a small incremental (if any) tax break for the individual? Because the independent contractor will have to pay employer FICA, we don’t see any large tax advantage for this shift. They can claim mileage and some home office expense (maybe), but it just does not amount to enough to place the church at risk.      Here are some detailed guidelines

In 2009, New York Times reporter Matt Richtel earned a Pulitzer Prize for National Reporting with a series of articles (“Driven to Distraction”) on the dangers of driving while texting or using cell phones. He found that distracted driving is responsible for 16 percent of all traffic fatalities and nearly half a million injuries annually. Even an idle phone conversation when driving takes a 40 percent bite out of your focus and, surprisingly, can have the same effect as being drunk. The

Most fundamental analysts focus on a company's quarterly and annual financial reports. To

They are not describing the number of animals killed for food. They are talking about animals who don’t even get the “benefit” of supposedly humane slaughter laws because they are so badly treated that they die before they ever get to slaughter. The numbers include caged hens pecked to death because they are unable to get away from their stressed, aggressive fellow prisoners; broiler chickens bred to grow so fast that their immature legs collapse under them, and they then die of thirst or hunger in the broiler shed because they cannot reach the feeders; and pigs, cattle, turkeys, and chickens who were alive when packed into transports but die from the stress that transport imposes on animals who have lived their entire lives indoors. Harish Sethu has done the sums for the United States on his website Counting Animals. The total number of animals killed in shelters each year is around 4 million, for fur 10 million, and in laboratories 11.5 million, making a total of approximately 25.5 million. Using conservative figures based on industry reports and scientific journals, Sethu estimates that 139 million chickens suffer to death annually. Adding turkeys, pigs, and cattle would increase this figure.

The world of public relations is moving in the opposite direction. In 2008, there were over 275,200 public relations specialists in the United States, earning a median annual wage of $51,280. The Bureau expects the field to continue to grow, upwards of 25% between 2008 and 2018. As a result, our reporters are suffering from information obesity themselves. For every reporter in the United States, there are more than four public relations specialists working hard to get them to write what their bosses want them to say. That’s double what there were in 1970. Journalists are assaulted with press releases stuffed in their mailboxes, polluting their email inboxes, and pouring out of their fax machines, full of pitches, sound bites, and spin.

Third Wave technology will also change how we measure success in the classroom. What good is an annual standardized test, after all, once teachers and parents can get detailed reports with a wide range of metrics, comparing their students on a regular basis to others in their class or school or state? In this way, big data on individual students will do for education what standardized testing never quite could: bring quantitative precision to a qualitative learning process.

within the annual directors’ report to shareholders.

From a purely financial perspective, the time and energy people devote to these events can often be better spent, said Leo Arnoult, president of Arnoult & Associates, a fund-raising consulting firm and a past chairman of Giving USA, which releases an annual report on charity contributions. The money that individuals contribute to these events is small compared with the money from a charity’s largest donors, who typically contribute 60 to 70 percent of what an organization raises in a year, he said.

In developing regions, the number of hungry people has fallen to 780 million today, or 12.9 percent of the population, from 991 million 25 years ago, or 23.3 percent of the population at the time, according to the United Nations’ annual hunger report, published by the Food and Agriculture Organization, the International Fund for Agricultural Development, and the World Food Program. Despite the finding that nearly 800 million people in the world remain hungry, the report called the progress a significant achievement. It said that 72 of the 129 nations monitored by the Food and Agriculture Organization had achieved the target under the so-called Millennium Development Goals of halving the percentages of hungry people in their populations and that developing regions had missed the target by only a small margin.

For example, the newspaper located a school featured in the Clinton Foundation annual report as “built through a Clinton Global Initiative Commitment to Action.” In reality, “The Clinton Foundation’s sole direct contribution to the school was a grant for an Earth Day celebration and tree-building activity.”5

But it is the long-term merits of the index fund—broad diversification, weightings paralleling those of the stocks that comprise the market, minimal portfolio turnover, and low cost—that commend it to wise investors. Consider these words from perhaps the wisest investor of all, Warren E. Buffett, from the 1996 Annual Report of Berkshire Hathaway Corporation: Most investors, both institutional and individual, will find that the best way to own common stocks is through an index fund that charges minimal fees. Those following this path are sure to beat the net results (after fees and expenses) delivered by the great majority of investment professionals.

As scientists linked smoking to cancer, the tobacco industry was under particularly pointed attack, which might have heightened Powell’s alarmism. As a director at Philip Morris from 1964 until he joined the Supreme Court, Powell was an unabashed defender of tobacco, signing off on a series of annual reports lashing out at critics. The company’s 1967 annual report, for instance, declared, “We deplore the lack of objectivity in so important a controversy…Unfortunately the positive benefits of smoking which are so widely acknowledged are largely ignored by many reports linking cigarettes and health, and little attention is paid to the scientific reports which are favorable to smoking.” Powell took umbrage at the refusal by the Federal Communications Commission to grant the tobacco companies “equal time” to respond to their critics on television and argued that the companies’ First Amendment rights were being infringed.

One annual report is worth 10 speeches by a Federal Reserve chairman.

Gun control proponents point to Australia’s 1996 gun ban as evidence that gun control does reduce firearm homicides. In Australia’s case, an initial look at the data appears compelling. Gun homicides fell from an average of 71 per year in the 7 years prior to the ban to 55 per year in the 7 years after the ban. That’s a 22 percent decline! But a closer look reveals two concerning things. First, knife homicides in Australia appear to move in the opposite direction to gun homicides. This suggests that, at least in a portion of the cases, the gun ban didn’t reduce homicides but rather caused the perpetrators to switch weapons. In Australia, knife homicides outnumbered gun homicides by more than 2 to 1 prior to the gun ban, and more than 3 to 1 after. In Australia, knife and gun homicides, combined, fell only 8 percent in the seven-year period following the gun ban compared to the seven-year period preceding the ban. This is a much less impressive story than the reported 22 percent decline in gun homicides. Second, if we compare the same two seven-year periods in the United States, we find that annual U.S. gun homicides fell from an average of 18,577 to an average of 12,780. That’s a 31 percent decline. The U.S., without a gun ban, experienced a larger relative decline in gun homicides than did Australia with the ban!

Black women constitute only about 13% of the female population in the United States, but they undergo approximately 1/3  of the abortions performed in the US annually.

A recent report in the New York Times highlighted the intense pressure on Amazon’s white-collar employees, those working on software, product development, and marketing. Employees faced “annual cullings,” often based on anonymous feedback from colleagues, who were all competing against each other; they openly wept in the office under the pressure; facing a boss described as an “insatiable taskmaster,” some employees worked for days without sleeping. Perhaps most troubling were the reports of employees in deep personal distress, facing family crises or even cancer diagnoses, who were given little to no flexibility and faced serious repercussions for their corresponding shortcomings.

cash from financing activities” on the statement of cash flows in the annual report. They can make a sick company appear to be growing even if its underlying businesses are not generating enough cash—as Global Crossing and WorldCom showed not long ago.

We earnestly desire the speedy settlement of all our territories,' reads an 1868 Office of Indian Affairs Annual Report. 'None are more anxious than we to see their agricultural and mineral wealth developed by an industrious, thrifty, and enlightened population. And we fully recognize the fact that the Indian must not stand in the way of this result. . . If the savage resists, civilization, with the Ten Commandments in one hand and the sword in the other, demands his immediate extermination.' But extermination, as a policy, proved to be inefficient. An educational system designed to destroy native culture was proposed as an economical way to solve the Indian Problem. The 1868 report concluded, 'It costs less to civilize than to kill.

It feels like every day there's another report of a company's bold new plan to cut costs and increase annual savings by "streamlining"--read: having fewer people do more work.

Corporate tax rates are down over the past 50 years. Meanwhile, healthcare costs have soared. Buffett reported that, in 1960, corporate taxes were 4% of GDP and healthcare costs were 5% of GDP. Today, corporate taxes are 2% and healthcare is 17% of GDP.

I read annual reports of the company I’m looking at, and I read the annual reports of the competitors—that is the main source of material.

For one, focus on intrinsic value growth, not reported earnings. Again, it’s not what the numbers are but what they mean that matters.

The quality and conduct of management. A company’s executives should say what they will do, then do what they said. Read the past annual reports to see what forecasts the managers made and if they fulfilled them or fell short. Managers should forthrightly admit their failures and take responsibility for them, rather than blaming all-purpose scapegoats like “the economy,” “uncertainty,” or “weak demand.” Check whether the tone and substance of the chairman’s letter stay constant, or fluctuate with the latest fads on Wall Street. (Pay special attention to boom years like 1999: Did the executives of a cement or underwear company suddenly declare that they were “on the leading edge of the transformative software revolution

By looking in the annual report for the mandatory footnote about stock options, you can see how large the “option overhang” is. AOL Time Warner, for example, reported in the front of its annual report that it had 4.5 billion shares of common stock outstanding as of December 31, 2002—but a footnote in the bowels of the report reveals that the company had issued options on 657 million more shares. So AOL’s future earnings will have to be divided among 15% more shares. You should factor in the potential flood of new shares from stock options whenever you estimate a company’s future value.

Financial strength and capital structure. The most basic possible definition of a good business is this: It generates more cash than it consumes. Good managers keep finding ways of putting that cash to productive use. In the long run, companies that meet this definition are virtually certain to grow in value, no matter what the stock market does. Start by reading the statement of cash flows in the company’s annual report. See whether cash from operations has grown steadily throughout the past 10 years. Then you can go further. Warren Buffett has popularized the concept of owner earnings, or net income plus amortization and depreciation, minus normal capital expenditures. As portfolio manager Christopher Davis of Davis Selected Advisors puts it, “If you owned 100% of this business, how much cash would you have in your pocket at the end of the year?” Because it adjusts for accounting entries like amortization and depreciation that do not affect the company’s cash balances, owner earnings can be a better measure than reported net income. To fine-tune the definition of owner earnings, you should also subtract from reported net income: any costs of granting stock options, which divert earnings away from existing shareholders into the hands of new inside owners any “unusual,” “nonrecurring,” or “extraordinary” charges any “income” from the company’s pension fund. If owner earnings per share have grown at a steady average of at least 6% or 7% over the past 10 years, the company is a stable generator of cash, and its prospects for growth are good.

An annual report that claims value-added, as a benefit to a community or to a society, is rare.

The other major oil industry suppliers were similarly weary, trying to shore up earnings by slashing jobs, trimming project costs, and squeezing their own customers and suppliers wherever they could. (The wildcatters had it worse: many of the mom-and-pop operators of the American oil patch started to file for bankruptcy.) One year later, GE would merge its oil and gas unit into the oil-field giant Baker Hughes, keeping for itself a more than 50 percent stake in the company and spinning out a new public company to be run by Simonelli, under GE’s control. The transaction eased GE’s exposure to the ongoing oil rout and gave the new company, dubbed “Baker Hughes, a GE company,” vast new areas of redundant employees and operations to eliminate. With Baker Hughes, GE changed its tone a bit. The deal was transformational, but in which intended direction wasn’t made clear. GE execs like Bornstein would proclaim that the deal gave them “optionality,” but the reality was that investors were left in the dark on the strategy: Was GE doubling down on oil? Or was it preparing to exit the industry? The idea of holding such a long-term option was nice, but the game pieces in the positioning were people, and those who didn’t leave their job had no idea where the future of the company might be. The new arrangement didn’t spare Lufkin. The historic foundry was closed. The city’s annual financial report now just shows a blank line when listing the company’s employment tally, evidence of the more than four thousand jobs that evaporated after GE came to town. Between two Mondays—the day GE announced it was coming to Lufkin and the day the company said it would move on, leaving a shuttered foundry at the center of town—just 868 days had passed.

The day after Republicans used Black votes to regain the House in the 1906 midterm elections, President Theodore Roosevelt ordered the dishonorable discharge (and loss of pensions) of 167 Black soldiers in the 25th Infantry Regiment, a Black unit that had been a huge source of Black pride. A dozen or so members of the regiment had been falsely accused of murdering a bartender and wounding a police officer in the horrifically racist town of Brownsville, Texas, on August 13, 1906. Overnight, the most popular US president in Black communities since Abraham Lincoln became the most unpopular. “Once enshrined in our hearts as Moses,” shouted out a Harlem pastor, the Reverend Adam Clayton Powell Sr., Roosevelt was “now enshrouded in our scorn as Judas.” In the final days of 1906, it was hard to find an African American who was not spitting ire at the Roosevelt administration. Roosevelt’s efforts to regain Black support with new Black federal appointments failed. Sounding the indignation of the observant press, the New York Times reported that “not a particle of evidence” had been given to prove the men were guilty. Roosevelt was defiant in his Annual Message to Congress on December 3, 1906 (defiant in his crude attempts to gain southern White voters). He warned “respectable colored people… not to harbor criminals,” meaning the criminals of Brownsville. And then he turned to lynchings: “The greatest existing cause of lynching is the perpetration, especially by black men, of the hideous crime of rape.

what the company said one year and what happened the next. We want to see not only whether managements are honest with shareholders but also whether they’re honest with themselves.” (If a company boss insists that all is hunky-dory when business is sputtering, watch out!) Nowadays, you can listen in on a company’s regularly scheduled conference calls even if you own only a few shares; to find out the schedule, call the investor relations department at corporate headquarters or visit the company’s website. Robert Rodriguez of FPA Capital Fund turns to the back page of the company’s annual report, where the heads of its operating divisions are listed. If there’s a lot of turnover in those names in the first one or two years of a new CEO’s regime, that’s probably a good sign; he’s cleaning out the dead wood. But if high turnover continues, the turnaround has probably devolved into turmoil.

The company’s problems with the FDA were far bigger than just the drugs intended for Africa. Ranbaxy had not properly tested the stability of almost any drugs on the U.S. market. The most basic good manufacturing practices require continuous monitoring of drug quality. Drug stability must be tested at intervals called “stations”: three months, six months, nine months, and so on. So long as a drug is on the market, that data has to be filed in an annual report with the FDA. One is never out of data, because obtaining it is simply part of the process.

Reporters Without Borders, a global freedom of press organization, recently announced in its annual Worldwide Freedom Index that the US has one of the highest levels of media censorship in the Western world. From their research, conducted in 2013, they reported that

The Poets’ Annual Indigence Report” Tonight beyond the determined moon, aloft with nothing left that is voluntary for delight, everything uttering hydrogen, your thinkers are mincing along through a hail of contingencies, While we all–floating though we are, lonesome though we are, lost in hydrogen–we live by seems things: when things just are, then something else will be doing the living. Doing is not enough; being is not enough; knowing is far from enough. So we clump around, putting feet on the dazzle floor, awaiting the real schedule by celebrating the dazzle schedule. And, whatever is happening, we are here; a lurch or a god has brought us together. We do our jobs–listening in fear in endless, friendless, Jesus-may-happen fashion. Our shadows ride over the grass, your shadows, ours: – Rich men, wise men, be our contemporaries.

Bringing Citizen Participation to Life Some years ago John McKnight attended the annual Canadian Conference of Community Development Organizations. Several hundred groups were in attendance. The convener of the conference told him that the best community “developer” in all of Canada was at the conference and pointed toward a middle-aged man named Gaëtan Ruest, the mayor of Amqui, Quebec. John introduced himself to Mayor Ruest and asked about Amqui. The mayor said that it was a town of about six thousand people on the Gaspé Peninsula amid the Chic-Choc Mountains, located at the intersection of the Matapédia and Humqui rivers. These rivers are the richest Atlantic salmon rivers on the North American continent, and Amqui is the regional center for fishing for these salmon. Gaëtan invited John to visit his town, and a year later John was able to take him up on the invitation. He found that all the townspeople were French-speaking, and a great deal of the economic base of the community was from fisherpeople who came to fish for the rare Atlantic salmon. One day, as Gaëtan and John walked together down the street, two men approached the mayor. There was a long conversation in French. After they were finished Gaëtan explained to John what had happened. The mayor said that the town had put nets on salmon streams in order to keep the fish near Amqui and accessible to the fishing guides. The two men reported that somebody was cutting the nets to let the salmon go upstream where they could poach them. “That’s terrible,” Gaëtan replied. “What do you think we can do about that?” The men thought for a while and then suggested three things that could be done. “Is there anybody who could help you do those things?” Gaëtan asked. “Yes,” they responded. “We know a couple of other fisherpeople who could help.” Gaëtan said, “Will you ask them to join you to meet with me at city hall this evening?” They agreed. That evening John joined Gaëtan at the meeting with four concerned people. The mayor had insisted that they meet in the city council’s meeting room and he led a discussion of how the group could deal with the salmon poaching problem. By the time they were done, the group had specific plans and specific people committed to carrying them out. Then Gaëtan asked, “Is there anything the city can do to help you with the job?” The participants came up with two ways the city could be helpful. “I am making you the official Amqui Salmon Preservation Committee,” Gaëtan said. “I want you to hold your meetings in the city council meeting room because you are official. I want you to come to city council meetings and tell the council people how you are coming along.” The convener of the National Association of Community Development Organizations, previously mentioned, told John that the process he had observed in the council meeting room that gave birth to the Amqui Salmon Preservation Committee was repeated over and over during Gaëtan’s long tenure as mayor. As a result, the convener said that in Amqui, hidden away in the Chic-Choc Mountains, almost all the residents had become officials of the local government and the principal problem-solvers for the community. John wholeheartedly believes that every public official can learn a great deal from the mayor of Amqui.

The number of movies released shrank too, from twenty-two in 2011 to just thirteen in 2015. And annual development spending, the R&D of the movie industry, fell dramatically, from $127 million in fiscal 2010 to $71 million in 2015. Pascal even had to let go of her longtime assistant, Mark Seed. He made her life run so magically that she nicknamed him “Mark Poppins,” but he made more than $250,000 per year. Pascal had less to work with and at the same time, Sony Corporation demanded more from her, as it responded to pressure from Loeb and the struggles of its electronics business. One result was growing tension between Pascal and Lynton, who in 2012 had been promoted to CEO of Sony Entertainment, putting him in charge of the company’s music businesses and officially making him Pascal’s boss, not her partner. Their relationship grew less familial, and he privately admonished her about the company’s faltering financial situation. “Why is everyone freaking out[?]” she asked, when the Hollywood Reporter revealed her assistant’s eye-popping salary. “Because we said no cost is too small,” responded Lynton. “An assistant paid that amount suggests a lack of controls. We claim to have those controls.

The Stern report concludes that, assuming a rate of technological progress in the “green sector” based on extrapolating from recent history, it would cost about 1 percent of world GDP annually to stabilize emissions at the level necessary to stave off global warming. But that seems a modest cost to avoid endangering the future of the world as we know it.

I created time in my schedule as well as in that of my staff to hold follow-up consultations with our business leaders. These were one-to-two-hour-long meetings on a variety of topics, held every six weeks, and organized around presentations that were short (no more than ten pages long) and that contained up-to-date data on the business’s financial and operational performance. Our follow-up consultations forced leaders to gather and analyze data regularly throughout the year, since they now bore responsibility for reporting it to me. Strategy would no longer be a one-time annual event that everyone quickly forgot.

Parenti reported in 1999 that yearly expenses of the correction industry were between $20 and $35 billion annually with “more than 523,000 full-time employees working . . . more than in any Fortune 500 company except General Motors.

Each bank has its own culture and while the official version is printed on websites and annual reports, the culture really manifests when you meet employees, insiders and banking sector veterans. For example, ICICI Bank’s aggressive, sink-or-swim culture is legendary. Similarly, HDFC Bank is highly respected for its focus on systems and processes, so much so that one insider called it SOP bank, where SOP stands for Standard Operating Procedure.

A performance dashboard is a practical tool to improve management effectiveness and efficiency, not just a pretty retrospective picture in an annual report.

Some people believe labor-saving technological change is bad for the workers because it throws them out of work. This is the Luddite fallacy, one of the silliest ideas to ever come along in the long tradition of silly ideas in economics. Seeing why it's silly is a good way to illustrate further Solow's logic. The original Luddites were hosiery and lace workers in Nottingham, England, in 1811. They smashed knitting machines that embodied new labor-saving technology as a protest against unemployment (theirs), publicizing their actions in circulars mysteriously signed "King Ludd." Smashing machines was understandable protection of self-interest for the hosiery workers. They had skills specific to the old technology and knew their skills would not be worth much with the new technology. English government officials, after careful study, addressed the Luddites' concern by hanging fourteen of them in January 1813. The intellectual silliness came later, when some thinkers generalized the Luddites' plight into the Luddite fallacy: that an economy-wide technical breakthrough enabling production of the same amount of goods with fewer workers will result in an economy with - fewer workers. Somehow it never occurs to believers in Luddism that there's another alternative: produce more goods with the same number of workers. Labor-saving technology is another term for output-per-worker-increasing technology. All of the incentives of a market economy point toward increasing investment and output rather than decreasing employment; otherwise some extremely dumb factory owners are foregoing profit opportunities. With more output for the same number of workers, there is more income for each worker. Of course, there could very well be some unemployment of workers who know only the old technology - like the original Luddites - and this unemployment will be excruciating to its victims. But workers as a whole are better off with more powerful output-producing technology available to them. Luddites confuse the shift of employment from old to new technologies with an overall decline in employment. The former happens; the latter doesn't. Economies experiencing technical progress, like Germany, the United Kingdom, and the United States, do not show any long-run trend toward increasing unemployment; they do show a long-run trend toward increasing income per worker. Solow's logic had made clear that labor-saving technical advance was the only way that output per worker could keep increasing in the long run. The neo-Luddites, with unintentional irony, denigrate the only way that workers' incomes can keep increasing in the long-run: labor-saving technological progress. The Luddite fallacy is very much alive today. Just check out such a respectable document as the annual Human Development Report of the United Nations Development Program. The 1996 Human Development Report frets about "jobless growth" in many countries. The authors say "jobless growth" happens whenever the rate of employment growth is not as high as the rate of output growth, which leads to "very low incomes" for millions of workers. The 1993 Human Development Report expressed the same concern about this "problem" of jobless growth, which was especially severe in developing countries between 1960 and 1973: "GDP growth rates were fairly high, but employment growth rates were less than half this." Similarly, a study of Vietnam in 2000 lamented the slow growth of manufacturing employment relative to manufacturing output. The authors of all these reports forget that having GDP rise faster than employment is called growth of income per worker, which happens to be the only way that workers "very low incomes" can increase.

Table 5.4 Top 70 branded manufacturers’ turnover vs. profitability average for 2009/2010 Source: Compiled from various company data, annual reports and specialised financial websites. Sales turnover Number of companies Average net margin > $20 billion 12 11.3% $10–20 billion 18 7.8% $5–10 billion 16 7.4% < $5 billion 24 2.8%

For many new Internet entrepreneurs, Jeff Bezos of Amazon is a great choice. Read all the shareholder letters from Amazon’s annual reports. Reid Hoffman wrote a cool book, The Startup of You.

A nice industry of crisis management firms has joined the fray by producing reports that identify 'threats' to business, including activist groups. In this industry built upon fear, corporations pay firms to identify threats to their profits, which leads to more campaigns to address these threats, which leads to more reports, and on it goes. The financial motivation to identify threats results in some interesting reports. For instance, the Society of Toxicology paid a private firm, Information Network Associates, to create a threat analysis in preparation for the group's annual meeting, ToxExpo. One section of the report profiled Seattle activists, including what schools they attended and whom they were dating.

About 98% of the atoms in the human body are renewed each year. This surprising fact is discussed by Dr. Paul C. Aebersold of Oak Ridge in the latest Annual Report of the Smithsonian Institution. Dr. Aebersold based his conclusion on experiments with radioisotopes, which trace the movements of chemical elements in and out of the body.

Obama could have looked at his own State Department’s annual terrorism reports. Between 2007 and 2011, an average of 6,282 terrorist attacks per year occurred outside of Iraq, Afghanistan, and the U.S. On average, more than 27,000 people were killed, injured, or kidnapped each year.

Except for his yearly trips to Langley to deliver his annual report, Paul had very little contact with Cox. Generally, he left Paul alone to run things,

The business must file Form 2553 along with Form 1120S (the form for an S-corporation’s annual tax return) no later than six months from the date Form 1120S would have been due for that year, No shareholder of the corporation can have reported his or her income for the year inconsistently with the S-corp election, and

But Amazon is not alone in its avoidance of taxes. Bloomberg Businessweek reports, “The tactics of Google and Facebook depend on ‘transfer pricing,’ paper transactions among corporate subsidiaries that allow for allocating income to tax havens while attributing expenses to higher-tax countries. Such income shifting costs the U.S. government as much as $60 billion in annual revenue, according to Kimberly A. Clausing, an economics professor at Reed College in Portland, Oregon.” At a time when both local and federal governments are putting off needed infrastructure improvements because of tax revenue shortfalls, the tax avoidance schemes of our richest technology companies are partially to blame.

Congress has mandated an annual report on street gang, outlaw biker, and domestic extremist activity in the military since 2008.

Taxable Payment Annual Report Online Lodgments | Gov Reports

At GovReports, our solution enables you to meet compliance reporting easier and faster. Those in the Building & Construction Industry need to prepare and lodge Taxable Payment Annual Reports (TPAR) to ATO as part of the contractor reports they must complete yearly.