The Council looked to total shareholder returns to identify an initial list of companies about which other information should be compiled and analyzed. More specifically, the Council used the Standard & Poor's Compustat database to identify companies in the S&P 500 that underperformed their industry medians in five- and one-year total shareholder returns as of July 31, 1996. Companies that outperformed the S&P 500 average for five-year shareholder total returns were dropped from the list. For the remaining companies the Council subtracted the difference ("returns deficit") between the industry's median five-year returns and the company's five-year returns to establish a ranking. The final list consists of the bottom 20 companies produced by this methodology.
* = No Web site available, based on our research. We'll post links to these companies as soon as possible. Please if you know of a Web address we don't yet have. Thanks!