Accentuating the caveat emptor perspective with critical commentary on financial disclosure. I adopt a skeptical persona and look for chinks in the teflon coating of financial disclosure. My job is to identify financial warts. Perhaps a Black Swan. Disclosure: I do not hold positions in stocks mentioned for three trading days before or after blog post.
Tuesday, May 09, 2006
Thomson Corp Annual Report Faux Pas
Thomson (NYSE:TOC)held their annual meeting last week. Attending shareholders pointed out some embarassing bafflegab on page two of the annual report. Clearly a mistake of the inadvertent variety. CEO Richard Harrington when called to task attempted to brazen it out with more verbal nonsense about geographical expansion. The attempt was laughable. I worry about the executive ego that cannot admit to an obvious mistake. Truth and integrity go a long way to creating shareholder value. Treating an individual investor with contempt and disdain worries the hell out of me.