When you’re $1 billion dollars in debt and you have a huge payment to European lenders coming due on June 30, 2009 you have to cut back: even on the annual report, according to a story in USA Today.
Every spring, Quiksilver’s (ZQK) investors could look forward to having a thick annual report land in their mailboxes, filled with colorful photos of tanned bodies and monster waves. Not this year. . . As part of cost cutting not only at the Southern California surf wear company but at many companies, the traditional printed annual report to shareholders is slimming down if not disappearing completely.
Every little bit counts. Wonder if they’ve ratcheted back on Fed Ex, too?
[Link: USA Today]
