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Of course, charge-offs tremendously distort reported earnings numbers, and no rational person looks at the 2008 $28 as a base case.
In May of this year the European Commission initiated an action examining whether firms have colluded to distort reported prices ("Oil Companies Raided In E.U. Pricing Inquiry" Wall Street Journal 05.15.13).
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Yet if sales fall and profits shrink, interest bills must still be paid.Perhaps the biggest factor distorting reported profits comes from the treatment of employee stock options, the use of which has grown hugely in recent years.
Meryl Streep has blamed "distorted reporting" for the row over her comments at the Berlin film festival earlier this month, during which the three-time Oscar winner told a press conference: "We're all Africans really".
This quandary is well articulated by Bob Ward who writes: "The danger with campaigning is that it distorts reporting of an issue, so audiences do not receive a neutral, objective account of the news - basically it crosses the line from providing information into the realm of motivating action.
These perverse effects might include neglecting unrewarded activities, distorting reporting systems to inflate coverage and staff moving to areas with higher performance or more favourable conditions for meeting targets.
Psychological factors may obscure or bias perception or distort reports, and these are appropriately understood as sources of error.
14 The nature and closeness of relationships for the remainder is variable, which could confound or distort reports.
Justice Ramos is presiding over a lawsuit filed by the state against Mr. Greenberg and Howard I. Smith, the former chief financial officer of A.I.G., which accuses both men of using sham reinsurance deals and other transactions to distort the reported financial condition of the company.
The method was also tested in more than one species to establish that the electrophoretic mobility of PrPSc thus obtained was not distorted as reported recently with sodium phosphotungstate salt [ 4].
The whistleblower, who worked for ICIS Heren, raised the alarm after identifying what he believed to be attempts to distort the prices reported by the company.
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