IN THE OLD DAYS, research papers depended a lot on library research. There were no chat sites or online searches accessible even by phone. The writer would put explanations on sources of a quote or information in the footnotes. This bit of typing was challenging in terms of spacing. Curious references like “ibid” or “op cit” precede the citation. These specific abbreviations stand for “ibidem” (or a source already cited before) and “opus citatem” referring to a cited work. (I admit I had to look them up again online.)
Financial statements are required to disclose details of certain entries that may be vague or out of the ordinary. Such items as “other income” need to be given a breakdown of their component parts. Where are these revenues derived from? These are often non-recurring and unusual transactions. “Advances to affiliates” is another entry that must detail which companies are involved and the nature of the cash given and whether it is expected to be liquidated at some future time.
In disclosures to the PSE, exits of senior officers or directors are explained succinctly. The subject has resigned as of an effective date. Maybe, for those still too young for mandatory retirement, additional details are added like health reasons or the desire to spend more time with the family abroad.
Are there also footnotes needed in social situations?
Footnotes are required when one is seen in an out-of-the-way resort (like La Union in the middle of a working week) with a person of the opposite sex (or the same sex) who is at least 30 years younger.
To avoid awkward explanations which anyway are difficult to concoct at a moment’s notice and likely to cause stammering and many pregnant pauses, it is best to simply avoid acquaintances altogether. This technique requires avoiding eye contact or taking the fire exit to the parking lot. This, of course, presumes that the potential explainer sees the embarrassing inquisitor before the latter sees him.
Anyway, there is really no need for footnotes in a chance encounter. The random meeting is not covered by any regulator requiring some disclosure related to anti-money laundering activity (AMLA). A simple faraway look may suffice. (Can I help you?)
The social pressure to provide social footnotes, even when not asked to do so, may be part of our maternal culture. Mothers, it seems, have a carte blanche authority to ask what their offsprings are up to, especially when they are behind locked doors — what are you doing in there? Open this door at once. Why are you panting heavily?
Giving unsolicited details tries to promote the fiction that what looks incriminating is merely an awkward incident. It craves another person’s good opinion. Thus, those who have nothing to hide, being where they have every right to be and with a companion legitimately related to them are only too eager to walk across the wide hall to greet distant acquaintances with the cheery — hi, how are you doing? I’d like you to meet my wife.
Even media interviews, now increasingly of the one-on-one variety where a corporate celebrity is asked questions (sometimes previously reviewed) to enhance an already high profile. Open-ended queries are preferred — What is your view of the economy?
Still, a clueless interviewer may spring an unexpected question on some still undisclosed venture the company has embarked on, like a movie production. Is this a new revenue stream for you? (Well, that’s still on the drawing boards for evaluation.)
Nothing attracts the need for footnotes like an item in the budget of a public official’s “confidential funds.” General explanations like security needs or travel expenses to be footnoted with details. Unusual levels of security needed to attend concerts abroad do not make good footnotes. What about all those funny names as payees of big checks through multiple bank accounts opened?
For a leader of a country or a company, the chaos, losses, and ruin of the organization he leaves behind consigns him to be dismissed as a “footnote in history.” Any biographical data can be found in fine print at the bottom of the page or the end of the book.
Tony Samson is chairman and CEO of TOUCH xda
