TrueBlue, Inc. (NYSE:TBI) ranked at the top of the list of companies with the “most transparent and conservative accounting practices and most prudent management,” according to a new “Most Trustworthy Companies” list compiled for Forbes by Audit Integrity, an independent financial analytics company.
Audit Integrity’s Accounting & Governance Risk rating, or AGR, rates companies' accounting and management practices from 0 (very aggressive) to 100 (conservative); companies with a lower rating have been more likely to suffer equity loss, issue financial restatements and face class action suits, Forbes.com says. Conversely, Forbes says, companies with the higher rating tend to be more trustworthy,
TrueBlue, the nation’s leading supplier of blue-collar temporary labor, received a top score of 100 and was one of a handful of companies on the list that have met the “most trustworthy” criteria consistently for the past five years or longer. Only five percent of publicly traded companies make the list -- to qualify, a company must earn a rating of 65 or more for eight consecutive quarters -- and TrueBlue was one of only 19 companies of the 328 on the list to earn the highest possible score.
“We have always believed that our investors, our employees and our customers deserve candor and transparency and that these principles are the foundation for maintaining the strength of our company,” TrueBlue CEO Steve Cooper said.Audit Integrity's AGRs have been used over the past seven years by institutional investors, insurers, auditors, regulators and corporations to identify risk, according to Forbes. About TrueBlue TrueBlue, Inc. is a leading provider of blue-collar staffing. In 2009, TrueBlue connected approximately 300,000 people to work through the following brands: Labor Ready, Spartan Staffing, CLP Resources, PlaneTechs, and Centerline, and served approximately 175,000 businesses in the services, retail, wholesale, manufacturing, transportation, and construction industries. TrueBlue, Inc. is headquartered in Tacoma, Wash. For more information, visit TrueBlue’s website at www.TrueBlueInc.com.