TrueBlue, Inc. (NYSE:TBI) is at the top of the top-ranked companies in the nation for transparency, conservative accounting practices and solid corporate governance, according to this year’s 100 Most Trustworthy Companies list compiled for Forbes Magazine by GMIRATINGS. TrueBlue was selected based on an independent review of 8,000 companies listed on the U.S. stock exchanges.
TrueBlue’s average score over the past four quarters of 99 out of 100 led all companies on the list. GMIRATINGS rates companies’ accounting and management practices from 0 (very aggressive) to 100 (conservative). This is the second straight list on which TrueBlue has been a leader in meeting the “most trustworthy” criteria.
“Many studies have shown that well-governed companies with transparent accounting have a higher price premium than their competitors, reduced cost of capital, and a higher long-term return for shareholders,” GMIRATINGS CEO James A. Kaplan told Forbes. “What these companies have in common is what they don’t have: problems that indicate elevated risk.”
“We have always believed that our investors, our employees and our customers deserve transparency and candor,” TrueBlue CEO Steve Cooper said. “We’re proud to be recognized again for maintaining standards that are truly among the highest in American business and that are also the foundation for the operation and strength of TrueBlue.”Companies that score high in the Most Trustworthy rankings also had to rank high in GMI’s Equity Risk Ranking, which indicates a positive forecast for equity return and minimal likelihood of financial distress as measured by GMI’s Bankruptcy Risk model. About TrueBlue TrueBlue, Inc. is a leading provider of blue-collar staffing. In 2011, 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 retail, service, wholesale, manufacturing, transportation, aviation, and construction industries. TrueBlue, Inc. is headquartered in Tacoma, Wash. For more information, visit TrueBlue’s website at www.TrueBlueInc.com. Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=50236119&lang=en