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.

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.

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.)

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.

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.

Just a quick example: if the United Kingdom’s gross domestic product (GDP) continues on its current path of an average decline of 0.5 percent annually as it has from 2010 to 2021, the British economy will fall behind many of its European neighbors, including Poland by 2030 and Romania and Hungary by 2040.

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

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

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.

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.

For example, “the richest Americans, those earning more than $ 10 million annually, reported levels of personal happiness only slightly greater than the office staffs and blue-collar workers they employ.

Having annual “career conversations” is also an excellent way to strengthen your relationship with each person who reports directly to you (see chapter seven).

Thyroid. Test Thyroid Stimulating Hormone annually. The test is called TSH and could indicate thyroid problems if too high. In such cases, energy levels will be low, and exercise will have less benefit. The standard “too high” level is 4 uiu/ml (or miu/L), but the warning bells should chime at anything above 2.5. For men, a doctor should be seen if this is the case and total testosterone is below 350/dl. For women, T3 and T4 should measured, and a doctor seen if they are low. We cannot give a precise number here, because different labs use different tests for this one. So here “low” should be taken to mean low according to the lab report. The cure for a weak thyroid is levothyroxine, a very inexpensive prescription medicine.

In 2012, for example, “reported federal campaign spending ... reached almost $6.3 billion,” or over twice as much as the total annual GDP of an African country like Burundi.

In literacy, India is 183 among 214 countries—below many African countries. Reports The Economic Times of 18 January 2013: “The Annual Status of Education Report (ASER 2012) by NGO Pratham shows that the number of Class V students who could not read a Class II level text or solve a simple arithmetic problem has increased. In 2010, 46.3% of kids in this category failed to make the cut and this shot up to 51.8% in 2011 and 53.2% in 2012...In 2010, 29.1% children in Class V could not solve a two-digit subtraction problem without seeking help. This proportion increased to 39% in 2011 and 46.5% in 2012.

In the first year of its operations, HDFC Bank, which was actually a mere two and a half months old, recorded a deposit base of ₹642 crore, advances of ₹98 crore, investments of ₹221 crore and a profit of ₹80.20 lakh, after paying tax of ₹40.60 lakh. There was not much business to talk about and hence its first annual report spoke about the four core values the bank stood for—operational excellence, customer focus, product leadership and professional people. The report tried to tell shareholders and investors what the bank stood for rather than what it had done, as very little had been achieved so far.

When we become an autonomous organization, we will be one of the largest unadulterated digital security organizations on the planet,” he told the annual Intel Security Focus meeting in Las Vegas. “Not only will we be one of the greatest, however, we will not rest until we achieve our goal of being the best,” said Young. This is the main focus since Intel reported on agreements to deactivate its security business as a free organization in association with the venture company TPG, five years after the acquisition of McAfee. Young focused on his vision of the new company, his roadmap to achieve that, the need for rapid innovation and the importance of collaboration between industries. “One of the things I love about this conference is that we all come together to find ways to win, to work together,” he said. First, Young highlighted the publication of the book The Second Economy: the race for trust, treasure and time in the war of cybersecurity. The main objective of the book is to help the information security officers (CISO) to communicate the battles that everyone faces in front of others in the c-suite. “So we can recruit them into our fight, we need to recruit others on our journey if we want to be successful,” he said. Challenging assumptions The book is also aimed at encouraging information security professionals to challenge their own assumptions. “I plan to send two copies of this book to the winner of the US presidential election, because cybersecurity is going to be one of the most important issues they could face,” said Young. “The book is about giving more people a vision of the dynamism of what we face in cybersecurity, which is why we have to continually challenge our assumptions,” he said. “That’s why we challenge our assumptions in the book, as well as our assumptions about what we do every day.” Young said Intel Security had asked thousands of customers to challenge the company’s assumptions in the last 18 months so that it could improve. “This week, we are going to bring many of those comments to life in delivering a lot of innovation throughout our portfolio,” he said. Then, Young used a video to underscore the message that the McAfee brand is based on the belief that there is power to work together, and that no person, product or organization can provide total security. By allowing protection, detection and correction to work together, the company believes it can react to cyber threats more quickly. By linking products from different suppliers to work together, the company believes that network security improves. By bringing together companies to share intelligence on threats, you can find better ways to protect each other. The company said that cyber crime is the biggest challenge of the digital era, and this can only be overcome by working together. Revealed a new slogan: “Together is power”. The video also revealed the logo of the new independent company, which Young called a symbol of its new beginning and a visual representation of what is essential to the company’s strategy. “The shield means defense, and the two intertwined components are a symbol of the union that we are in the industry,” he said. “The color red is a callback to our legacy in the industry.” Three main reasons for independence According to Young, there are three main reasons behind the decision to become an independent company. First of all, it should focus entirely on enterprise-level cybersecurity, solve customers ‘cybersecurity problems and address clients’ cybersecurity challenges. The second is innovation. “Because we are committed and dedicated to cybersecurity only at the company level, our innovation is focused on that,” said Young. Third is growth. “Our industry is moving faster than any other IT sub-segment, we have t

Risk and mistakes go together, but the general public has limited knowledge of the disturbing facts: •     Medical errors are estimated to cause 440,000 deaths per year in U.S. hospitals alone. It is widely believed that this figure could be grossly inaccurate, because countless mistakes go unreported—death reports offer only the immediate cause, and many doctors band together to protect the reputation of their profession. •     The total direct expense of “adverse events,” as medical mistakes are known, is estimated at hundreds of billions of dollars annually. •     Indirect expenses such as lost economic productivity from premature death and unnecessary illness exceed $1 trillion per year.

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.

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

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%

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

From 1977 to 1987, our average annual return to investors was 46 percent. And even in the middle of the recession, in 1991, we reported a return on equity of more than 32 percent.

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.

The driver, who had lived in East Berlin until the wall fell in 1989, was happy to report that Berlin was currently the most popular tourist destination in Germany and one of the top three in Europe. During the previous year, nearly thirty million people had visited Berlin, which had only three and a half million permanent residents. The influx of tourists had put a strain on the city’s housing market, making it tough for Berliners to find a decent apartment to rent. Many estate agents and other enterprising individuals were now signing annual leases on apartments simply to sublet them to tourists on sites like Airbnb.

In truth, the U.S.-sponsored international “War on Drugs” is a war on poor people, most of them subsistence farmers caught in a dangerous no-win situation. If the goal of the War on Drugs is to discourage or prevent drug use, it has failed. Among young people in North America drug use has reached unprecedented levels and enjoys unprecedented tolerance. According to figures quoted by Norm Stamper, the number of Americans who have used illegal drugs stands at 77 million. The U.S. Department of Justice reports that the number of prisoners has tripled, from 139 per 100,000 residents in 1980 to 476 per 100,000 in 2002, the vast majority being incarcerated after drug convictions. From 1980 to 1999 the annual number of Americans arrested for drug offences nearly tripled, from 580,900 to 1,532,200. “That’s a lot of enemies,” comments the ex–police chief. If the War’s purpose is to protect people and communities or to improve their quality of life, it fails disastrously. As the personal histories of Downtown Eastside addicts illustrate and as statistics show, the human costs are devastating. “One [result] which is especially cruel and will have a terrible impact on American life for many generations is the large increase in the number of women incarcerated for drug violations,” U.S. District Court Judge John T. Curtin has pointed out. From 1980 to 1996, there has been a 400 percent increase in the number of women prisoners. Many of those jailed for drug violations were mules or assistants. I venture that none was a principal organizer. Many are the mothers of small children who will be left without maternal care, and most probably without any parental care at all…The engine of punitive punishment of mothers will haunt this nation for many years to come. If the War’s aim is to end or even curtail the international drug trade, it has failed there, too. If it is to suppress the cultivation of plants from which the major substances of abuse are derived: once again, abject failure. Truth, once again, is among the inevitable casualties of war.

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,

Graham Newman reports years ago. “Coat-tailing” was the term.

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.

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

We believe the secret to investment success is hard work. Activity, we figure, will bring success, whether it is diligently reading corporate annual reports or trading rapidly throughout the day. While all this activity might give us the illusion of control over our investment results, it is more likely to hurt our performance, as we rack up hefty trading costs and make large undiversified investment bets.

In late-2006, the most publicised government-commissioned report on the economics of climate change was released. Soon to be widely known as the Stern Review, the report concluded that it would be necessary to invest at least one per cent of Gross World Product (GWP) every year to avoid climate change damage costs equivalent to the annual loss of 5–20 per cent of GWP (Stern 2007). The Stern conclusions were soon supported in 2007 with the publication of the fourth series of IPCC reports declaring that the cost of reducing emissions would be significantly less than the cost of climate change damages (IPCC 2007a). Also stressed by the IPCC was that “warming of the climate system is unequivocal” and that it was “very likely that global warming is the result of human activities

In fact, according to the Columbia Journalism Review, the Chinese government has already “built the world’s largest news organization,” with funding estimated at “19 times the annual budget of BBC.”32 In fact, the BBC warned in 2015 that it would soon be marginalized by non-Western GNNs unless its budget cuts are reversed. “China, Russia and Qatar are investing in their international channels in ways that we cannot match, but none has our values and our ability to investigate any story no matter how difficult,” the BBC wrote in its report.

In his 1996 annual report, Max Yalden, head of the Human Rights Commission of Canada declared, once again, as he has for the past nine years, that the most pressing human rights problem facing Canada is the plight of its First Peoples. The successes associated with mainstream Canadian society continue to elude the aboriginal peoples dispersed across Canada; an overwhelming number of aboriginal peoples live in third world conditions in one of the most affluent nations in the world. During the nine years in question, and indeed since the dawn of white settlement in Canada, the aboriginal peoples have not been passive recipients of all that successive governments have meted out. Aboriginal peoples have fought and continue to fight for a foothold in Canadian society; for political, social, legal and economic equality; to be heard, to be recognized, and to be treated as equals in a society that has, by both subtle and blatant means, relegated them to the margins. In spite of all that has occurred, aboriginal peoples continue to survive in Canada. And that achievement in and of itself is quite remarkable in face of the many attempts to destroy, subdue, control and subjugate them. Furthermore, the natural resources of which the aboriginal peoples were once the only users and guardians continue to be expropriated and exploited without compensation. When the resources being expropriated are on lands under treaty negotiations, the expropriation has been accelerated by companies eager to get as much wealth from the resources as possible before the lands are “won” under land claims agreements by aboriginal groups.

Committee P, Annual Report 2019,

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. Among the things that should make your antennae twitch are technical terms like “capitalized,” “deferred,” and “restructuring”—and plain-English words signaling that the company has altered its accounting practices, like “began,” “change,” and “however.” None of those words mean you should not buy the stock, but all mean that you need to investigate further. Be sure to compare the footnotes with those in the financial statements of at least one firm that’s a close competitor, to see how aggressive your company’s accountants are. Read more. If you are an enterprising investor willing to put plenty of time and energy into your portfolio, then you owe it to yourself to learn more about financial reporting. That’s the only way to minimize your odds of being misled by a shifty earnings statement. Three solid books full of timely and specific examples are Martin Fridson and Fernando Alvarez’s Financial Statement Analysis, Charles Mulford and Eugene Comiskey’s The Financial Numbers Game, and Howard Schilit’s Financial Shenanigans. 8

The FPA, in its 1974 Annual Report, stated that “Studies conducted at Mount Weather involve the control and management of domestic political unrest where there are material shortages (such as food riots) or in strike situations where the FPA determines that there are industrial disruptions and other domestic resource crises.” The report states that the bureaucracy at Mount Weather invokes what it calls “civil crisis management.

In 1978, the federal Department of Health, Education, and Welfare reported264 that it lost between $5.5 and $6.5 billion of its $150 billion annual budget to fraud, abuse, and waste. However, just 15 percent of that $5.5 to $6.5 billion—less than 1 percent of HEW’s yearly spending—got siphoned away due to “unlawful, willful misrepresentation (fraud) or excessive services and program violations (abuse).” Further, less than $500 million of the agency’s losses was attributable to the partially federally funded AFDC program. The vast majority of those debits, around $4 billion, came via Medicaid and other health care initiatives

The Keeling Curve is a useful reality check, one that cuts through all the noise and confusion of the climate and energy debates. Unlike the slopes of the huge volcano on which it is measured, the initially gentle upward curve gets steeper the higher you go. That means that the rate of CO2 accumulation in the atmosphere is steadily increasing, from roughly 1 ppm in the early years to about 2 ppm annually today. There is no visible slowdown, no sudden downwards blip, to mark the implementation of the Kyoto Protocol, still less 2009’s Copenhagen ‘two degrees’ commitment or the landmark Paris Agreement of 2015. All those smiling heads of state shaking hands, the diplomats hugging on the podium after marathon sessions of all-night negotiating – none of that actually made any identifiable difference to the Keeling Curve, which is the only thing that actually matters to the planet’s temperature. All our solar panels, wind turbines, electric cars, lithium-ion batteries, LED lightbulbs, nuclear plants, biogas digesters, press conferences, declarations, pieces of paper; all our shouting and arguing, weeping and marching, reporting and ignoring, decrying and denying; all our speeches, movies, websites, lectures and books; our announcements, carbon-neutral targets, moments of joy and despair; none of these to date have so much as made the slightest dent in the steepening upward slope of the Keeling Curve.

Turner, Frederick J. "The Significance of the Frontier in American History." Annual Report of the American Historical Association for the Year 1893. Washington, D.C.: Government Printing Office, 1894.

Over the course of many years, Amazon has put in place mechanisms to ensure that the Leadership Principles translate into action. Three foundational mechanisms are: the annual planning process; the S-Team goals process (the S-Team consists of the senior vice presidents and direct reports to Jeff Bezos); and Amazon’s compensation plan, which aligns incentives with what’s best for customers and the company over the long term.

A 360 written report is a good mechanism for annual feedback. But avoid anonymity and numeric ratings, don’t link results to raises or promotions, and open up comments to anyone who is ready to give them. Live 360 dinners are another effective process. Set aside several hours away from the office. Give clear instructions, follow the 4A feedback guidelines, and use the Start, Stop, Continue method with roughly 25 percent positive, 75 percent developmental—all actionable and no fluff.

Suppose that the conventionally measured global economic output, now at about $31 trillion, were to expand at a healthy 3 percent annually. By 2050 it would in theory reach $138 trillion. With only a small leveling adjustment of this income, the entire world population would be prosperous by current standards. Utopia at last, it would seem! What is the flaw in the argument? It is the environment crumbling beneath us. If natural resources, particularly fresh water and arable land, continue to diminish at their present per-capita rate, the economic boom will lose steam, in the course of which—and this worries me even if it doesn’t worry you—the effort to enlarge productive land will wipe out a large part of the world’s fauna and flora. “The appropriation of productive land—the ecological footprint—is already too large for the planet to sustain, and it’s growing larger. A recent study building on this concept estimated that the human population exceeded Earth’s sustainable capacity around the year 1978. By 2000 it had overshot by 1.4 times that capacity. If 12 percent of land were now to be set aside in order to protect the natural environment, as recommended in the 1987 Brundtland Report, Earth’s sustainable capacity will have been exceeded still earlier, around 1972. In short, Earth has lost its ability to regenerate—unless global consumption is reduced, or global production is increased, or both.

According to Ripley, the sketchy disclosures by International Match continued to be typical of those by leading companies. National Biscuit Company’s income statement from 1925 was just three-by-four inches, and didn’t need even that much space – it included just a single entry labeled “Earnings, Year 1925”.11 The Royal Baking Powder Company didn’t issue any financial statements at all.12 Many corporate reports contained disclaimers that the official income account “does not by any means give a clear picture of the annual earning power” or that “the balance sheet by no means discloses the true value of the company’s fixed assets.

Apart from his power to determine transfer payments, Gilbert’s most potent weapon was his annual report.

In late June 2023, the Sovereign Grant Report, an annual document that outlines the royal family’s expenditures, revealed that spending had risen by 5 percent from the previous year to £107.5 million (the second time in history it had broken the £100 million mark). Despite Charles campaigning on environmental issues, reports for 2022 and 2023 also revealed that he still regularly travels by helicopter between his numerous royal residences at an average cost of £15,000 per flight.

Language is the rich fabric that enshrouds all experience that is truly human. Those who are hyperpolyglots therefore adorn multiple layers of beautiful fabrics at the same time. They have multiple lives in one sense; and they certainly have multiple souls.

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Alarmed by shifts in public opinion, the NSB devoted an entire section of its 1976 annual report to the issue. Four years later, things were no better, and the president of the National Academy of Sciences warned that “there has arisen an antiscientific, antirationalist trend that should give us pause.

D.A.R.E. doesn’t work. A number of well-controlled experiments have shown that the program has no effect on students’ use of tobacco, alcohol, or other drugs. In 2003, the United States General Accounting Office surveyed the evidence and reached the same conclusion. (Apparently, the White House doesn’t pay close attention to reports from the General Accounting Office, or at least not this one.) Amazing amounts of time, effort, and money (more than one billion dollars annually) have been devoted to a program that was not adequately tested and, when it was, turned out to be ineffective.

Table 1: Change in compensation Source: British Columbia Power, 1962 annual report. Figures in thousands other than per share data. The second key legislation was the British Columbia Hydro and Power Authority Act. This act merged the British Columbia Power Commission, a government-owned public utility that served smaller communities unserved by BC Electric, with BC Electric into a single corporation named the British Columbia Hydro and Power Authority. This maneuver cemented the two entities together, creating an additional complication if the Court later reversed the takeover.188 With the Amending Act payment in hand, BC Power had cash—less all liabilities—of C$19.30 per share. The stock sold for less than this, closing at C$16.75 the day after the payment and then fluctuated around this number over the coming months.189 At this price, the stock traded at a 13.2% discount to net cash, held around C$2.10 of additional assets, and possessed continued upside if litigation went the company’s way.

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.

It

Simple Regression   CHAPTER OBJECTIVES After reading this chapter, you should be able to Use simple regression to test the statistical significance of a bivariate relationship involving one dependent and one independent variable Use Pearson’s correlation coefficient as a measure of association between two continuous variables Interpret statistics associated with regression analysis Write up the model of simple regression Assess assumptions of simple regression This chapter completes our discussion of statistical techniques for studying relationships between two variables by focusing on those that are continuous. Several approaches are examined: simple regression; the Pearson’s correlation coefficient; and a nonparametric alterative, Spearman’s rank correlation coefficient. Although all three techniques can be used, we focus particularly on simple regression. Regression allows us to predict outcomes based on knowledge of an independent variable. It is also the foundation for studying relationships among three or more variables, including control variables mentioned in Chapter 2 on research design (and also in Appendix 10.1). Regression can also be used in time series analysis, discussed in Chapter 17. We begin with simple regression. SIMPLE REGRESSION Let’s first look at an example. Say that you are a manager or analyst involved with a regional consortium of 15 local public agencies (in cities and counties) that provide low-income adults with health education about cardiovascular diseases, in an effort to reduce such diseases. The funding for this health education comes from a federal grant that requires annual analysis and performance outcome reporting. In Chapter 4, we used a logic model to specify that a performance outcome is the result of inputs, activities, and outputs. Following the development of such a model, you decide to conduct a survey among participants who attend such training events to collect data about the number of events they attended, their knowledge of cardiovascular disease, and a variety of habits such as smoking that are linked to cardiovascular disease. Some things that you might want to know are whether attending workshops increases

NOVEMBER 29 “Chevalier” Wikoff Lincoln, on this day in 1861, read to his cabinet part of his first annual message to Congress. Subsequently the message—to be delivered on December 3—was, however, prematurely leaked to the press, prompting an investigation of Henry Wikoff and the first lady. In her first year in the White House, Mary Lincoln held evening soirees in the downstairs Blue Room. Her guests were mostly men who doted on her and, as journalist Henry Villard noted, Mary was vulnerable to “a common set of men and women whose bare-faced flattery easily gained controlling influence over her.” One such flatterer was Wikoff, a European adventurer who was an intimate of the French emperor, Napoleon. The New York Herald sent Wikoff to Washington as a secret correspondent for them. Wikoff charmed his way into Mary’s salon to become, as Villard claimed, a “guide in matters of social etiquette, domestic arrangements, and personal requirements, including her toilette.” The “Chevalier” Wikoff escorted Mary on her shopping sprees as an advisor, and repaid the first lady with stories in the Herald about her lavish spending. When the Herald published excerpts of Lincoln’s annual message, it was alleged that Wikoff was the leak and Mary his source. A House judiciary committee investigated and Wikoff claimed that it was not Mary but the White House gardener, John Watt, who was his source, and Watt confirmed Wikoff’s claim. As reporter Ben Poore wrote, “Mr. Lincoln had visited the Capitol and urged the Republicans on the Committee to spare him disgrace, so Watt’s improbable story was received and Wikoff liberated.” In February 1862, a reporter named Matthew Hale Smith of the Boston Journal showed Lincoln proof that Wikoff was working for the Herald. “Give me those papers and sit here till I return,” said the president on his way to confront Wikoff. He returned to tell Smith that the “chevalier” had been “driven from the Mansion [White House] that night.

The Rand Corporation has noted that the nationwide shortage of technical security professionals within the federal government is so critical that it is putting both our national and our homeland security at risk. The finding was echoed by Cisco’s 2014 Annual Security Report, which estimated that there was a talent scarcity of more than a million cyber-security professionals worldwide, expected to grow to two million by 2017. We desperately need more public engagement in protecting our technological future, and even the channels of officialdom have begun to concede the point.

Annual Report of the Department of Education, 1928-9: Mortality rate 3.5 per thousand. This rate is somewhat higher than that for the country as a whole. Medical officers make quarterly inspections of all pupils and special attention is given to delicate pupils. Numbers under detention 6,515. Seven boys and sixteen girls died.

There’s a catch: as people get richer, they give more money in total, but they give smaller fractions of their annual income. In one study, psychologists demonstrated that merely thinking about socioeconomic status is enough to change the amount of charitable giving that we think is appropriate. When people thought about themselves as somewhere in the middle of the wealth ladder, they felt obligated to give 4.65 percent of their annual income to charity. But when they imagined themselves at the top of the ladder, they only reported an obligation to give 2.9 percent of their annual income to charity.

A recent RAND Corporation report illustrates these points precisely, finding that preventable medical errors in hospitals result in tens of thousands of deaths per year; preventable medication errors occur at least one and a half million times annually; and, on average, adults receive only 55 percent of recommended care, meaning that 45 percent of the time, our doctors get it wrong.

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)

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.

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.

As CEO Zhang pointed out to us, the size of a company’s advertising budget might be viewed as a reflection of the distance between the company and its customers. For example, the annual brand value report issued in 2013 by the consulting firm Interbrand noted that Google’s advertising budget is just a tiny fraction of Coca-Cola’s. The likely reason: Google is deeply integrated into people’s lives through its many productivity and social applications, giving it constant user feedback that Coca-Cola doesn’t receive.

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Taxable Payment Annual Report Online Lodgments | Gov Reports

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

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

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.

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.

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.

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.

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.