It is time to discontinue the annual publication of the archaic corporate annual report.
It is very costly for companies to prepare and mail it out to the all stockholders. I believe very few of the recipients even read it. This information can be made available on the internet.
These reports glorify the current officers and the board of directors. They try to justify the huge bonuses and stock options for their great job, even if the company had a bad year and lost money. They feel that the rewards were justified. The letters by the CEO always state the company is on the right track and will make money in the subsequent years.
It is now time to stop this publication. It will save paper and money for companies.
Thomas Gitter, Madison