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Dominic Jones
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My firm counsels investor relations departments of public companies around the world on how to use web technologies to communicate with investors, analysts and investment bloggers. Our research and guidelines have been cited and referenced by industry associations, academics and consultants... More
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IR Web Reporting International Inc.
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IR Web Report
  • Should companies disclose when their remarks on earnings calls are taped before hand? 0 comments
    Jan 18, 2010 3:28 AM
    Some companies are taping their earnings call prepared remarks in advance and then playing the recordings on the live calls without telling investors that the remarks have been prerecorded.

    One company's IRO openly admits to taking steps to ensure that analysts and others don't find out that her executives aren't actually reading the remarks live on the call. They include using operators on the recording and the live call who have similar voices, and changing wording that might tip off investors to the fact the remarks have been taped the night before.

    I've been debating the issue with other IR professionals, but I wonder what investors think.

    Should companies tell investors that the prepared remarks they're hearing were recorded before the call?

    What do you think about companies that actively try to hide the fact that they taped the remarks before hand?  
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