Cincinnati Bell 2004 Annual Report Download - page 3

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As one of the nation’s most-respected and
best-performing local exchange and wireless
providers, Cincinnati Bell provides a wide
range of telecommunications products and services
to residential and business customers in Ohio,
Kentucky and Indiana.
Our employees and operations have long been part
of the rich fabric of the Cincinnati metropolitan
area. From the early days of telephone connections
to the lightning-fast speed of broadband in the 21st
century, Cincinnati Bell has proven it can and will
deliver the products people and businesses need to
live, work and play in a wired world.
Solid in the face of turbulence
I am pleased to report that Cincinnati Bell’s
strengths—strengths that you and I own—led to
a solid performance despite the challenges of an
unpredictable and often turbulent marketplace. I
consider 2004 to be a testament to the 3,100 dedi-
cated employees who are helping to revitalize and
retool this great company. Challenge is nothing new
for these men and women. They recognize that in
order to beat the competition, you must first
compete against yourself.
Gaining flexibility
Fiscal 2004 will be remembered as the year
Cincinnati Bell turned the corner while making
strides toward strengthening the core business and
gaining more financial flexibility. In his letter,
President and CEO Jack Cassidy will have more to
share about this year’s accomplishments, so let
me just say this: the key advantage of flexibility is
that it affords us choices instead of alternatives,
opportunities instead of status quo. Flexibility allows
us to think with more aspiration about our business.
Integrity is a way of life
These days we hear a lot of talk about corporate
governance and fiduciary responsibility. At
Cincinnati Bell, it’s a way of life. Throughout 2004,
management kept its promise of providing investors
and the Board of Directors with a candid and timely
view into its financial position and prospects. I am
confident and proud of the integrity and forthright-
ness that underlie this year’s performance.
At the same time, the Board demonstrated a level of
engagement with management like never before. We
held 13 regular meetings, each including productive
sessions with management. In October, we welcomed
Bob Mahoney to the Board, bringing the total num-
ber of directors to ten. As chairman emeritus and
retired chairman and CEO of Diebold, Inc., Bob
brings significant experience and insight especially
from a technology perspective.
Progress will continue
In short, it has been a year of progress for Cincinnati
Bell in a number of areas and the Board of Directors
firmly believes this progress will continue in 2005
and beyond. We have the management, strategy
and expertise in place to invest in the future of our
business and it is a great honor and privilege to
serve as your Chairman.
Phillip R. Cox
Chairman of the Board
Solid strides toward the future A letter from the Chairman