Dec. 18, 2018
Keep the light of Day It is already enough that corporations insist on reporting and highlighting NON-GAAP metrics, even despite numerous admonishments from your organization. This in addition to their already nontransparent operational and reporting practices (i.e. all of the incredibly small fonts used in the various footnotes, or the footnote that consumes half a page of the quarterly or annual statement) do not institutionalize another layer of confusion to the system by reducing the quarterly reporting requirement. The average shareholder now only gets a very limited view into the health of the company that is the basis of their investment. Given the quick reversal of fortune several large corporations have suffered recently (GE), this reversal was not unexpected, and because of the reporting requirements the management was forced to take action. But with a reduction in internal for reporting required condition a company’s finances could have been hidden until the company management decided that the situation is untenable and late on a Friday afternoon filed for relief via the courts. Creating more chaos in an already chaotic market. The shareholder who is observant is presented information via quarterly and annual SEC required reports that allowed us to make informed decisions as to the suitability of our investments. Please do not allow the removal of the critical tool in the investment process. Keep the Quarterly Reporting requirements. "If the broad light of day could be let in upon men’s actions, it would purify them as the sun disinfects." L. Brandeis