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Company Name: Eastman Chemical Co. Best Feature: Communications Usefulness Weakest Feature: Corporate Analysis Total Grade: PP1/2 |
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| Visual Elements | Thematic Consistency & Clarity | Usefulness as a Communications Tool | Integration of Editorial & Financial |
Corporate Candor |
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Grade: PPPP Comments: The photos and charts helped bolster this annual report's impact. By showcasing employees who aren't likely to be the center of attention on a regular basis, Eastman found a way of making us, or any potential shareholder, like this business family and maybe be part of it. Even though the photos had a kind of earthy, down-home feel, they didn't conflict with the company's image as a technology leader. |
Grade: PP Comments: Even though we got a potent taste of the company's history, we didn't get a clear sense of where the company is headed. Given its hellish performance in 1996 - net earnings per share plunged from $6.78 in 1995 to $4.80 in 1996, with a $1.98 change - we need to know: What's its strategy for tomorrow? |
Grade: PPPP Comments: We enjoyed leafing through this report because we got a behind-the-scenes look at the inventors responsible for conceiving and leveraging Eastman's breakthrough technologies. Our favorite was a two-page list (a kind of bet-you-didn't-know rundown), at the beginning of the report, that highlights how Eastman's developments are used in the consumer sector. It includes everything from Banana Boat Suntan lotions and yogurt cup caps. |
Grade: PP Comments: We felt like something was missing after we read this report. Even though all the numbers were there, it lacked a definitive marriage of the financial and editorial - almost as if company execs were avoiding revealing too much. And that makes it tough to view the company as being loyal to its investors. Shareholders want to know how the company's going to earn back their faith and how it's going to recoup its financial strength. Instead, we were left at the altar. |
Grade: PP Comments: When the CEO's telling us in his statement that this was "our first down year for sales revenue in 11 years and for earnings since becoming a public company," we'd better have a strong sense of what he's going to do to rectify that. We don't want to have to weed through pat, and not very telling answers, from senior execs who tell us that they're confident the company can create value for its shareholders because of its "track record" or a "robust technology base." |
Annual Report
