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[quote user="BaltACD"] Show me the report from ANY organization, public or private, that doesn't accentuate it's positives and minimize it's negatives.  That is what publishing reports is all about - polishing the apple. [/quote] All publicly held corporations are required to file annually a 10K with the SEC.  It must contain a comprehensive overview of the corporation's results and a complete set of financials. No apple polishing permitted! The 10K is widely available to the public and may be accessed on-line. In addition, public corporations are required to file an 8Q with the SEC every quarter.  It too contains a comprehensive overview of the corporation, as well as a complete set of financials, except the financials don't have to be audited.   Most midsize to large businesses (public and private) publish an annual report. Amtrak puts out a very good annual report. They usually contain lots of pretty pictures, especially when the results are not stellar, and management puts a positive spin on the results. Nevertheless, they must comply with Generally Accepted Accounting Principles (GAAP) and present a fair picture of the business' results. The business press is full of corporate results, usually 15 to 30 days after the close of the quarter.  I read it every day. I am not aware of any major corporation that just announces its sales results without showing a comprehensive picture of its overall results.  Amtrak constantly spins the numbers.  For example, it claims its revenues cover 88 per cent of its costs. That is for the consolidated corporation. In fact, train revenues (Amtrak is in the train business) cover 82.1 per cent of the cost of train operations.  And that is before depreciation, interest, and miscellaneous items. On a fully allocated basis, which includes depreciation, interest, and miscellaneous items, Amtrak's revenues cover 64. 8 per cent of the fully allocated costs. Amtrak's monthly operating reports contain comprehensive numbers, but I suspect few people know about the reports, and even fewer know how to read and interpret them. Moreover, Trains forum participants are not compelled to present just one side of the story.     In an era when people are demanding more transparency from the nation's major institutions, it behooves Amtrak, as well as others, to tell the complete story.
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