Newspaper-style annual report: innovative idea goes awry. (Goldome banks newspaper-style annual report)

Newspaper-style annual report: innovative idea goes awry After suffering a loss of $19 million and undergoing a major restructuring in 1988, Goldome set out to ensure that shareholders would read about its status by publishing a provocative annual report. The bank, based in Buffalo, New York, opted for a colorful newspaper format, bearing a striking resemblance to USA TODAY.

The radical departure from the traditional annual report format has received mixed reviews. It generated a favorable response from shareholders and employees who, according to the bank, are not only reading it, but sharing it with friends. On the downside, however, executives at Gannett Co., Inc., publishers of USA TODAY, have charged that the annual report copies its own well-recognized format, and insisted that Goldome publicly apologize. Goldome has denied any …