5
4/14/2003
Something Was Needed
•Investors want an earnings
measure they understand and trust. Without any definition of
earnings measures, there is no consistency across companies or
through time.
•Standard & Poor’s recognized that inconsistency and
confusion were hurting investor confidence.
•Just calling for change
was not enough – someone had to propose a definition, listen
to comments and build a consensus.
•Standard & Poor’s
has stepped up.