Part 1
Find an article that discusses the merits, reliability and/or usefulness to investors of shareholder letters in annual reports (i.e., the letter to shareholders from the CEO or Chairman of the Board that appears at the beginning of company annual reports). Briefly summarize the article (properly referenced and cited) in the first half of your Assignment.
Then, read Jeff Bezos’ Letter to Shareholders in Amazon’s 2018 annual report and the letter that appeared in the 1997 annual report at the following website:
https://www.sec.gov/Archives/edgar/data/1018724/000119312518121161/d456916dex991.htm
In the second half of your assignment, do the following:
- List one statement, issue or item that stands out to you in the 2018 letter. Explain in a paragraph why you found this item interesting or important.
- List one statement, issue or item that stands out to you in the 1997 letter. Explain in a paragraph why you found this item interesting or important.
- In one final paragraph, compare and contrast the 1997 letter to the 2018 letter.
Part 2 Company chosen: Sherwin-Williams
Write a brief summary of your company’s letter to shareholders. Examples of potential items to discuss are as follows. What does the CEO or Board Chairman focus on? What is your overall assessment of the letter? Is the letter positive or negative? Does the letter discuss issues unrelated to the company? If so, why do you think the CEO or Board Chairman chose to do so?
