GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW) | ||||||
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21:28 Dec 14, 2007 |
English language (monolingual) [PRO] Bus/Financial - Business/Commerce (general) | |||||||
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| Selected response from: Polangmar Poland Local time: 17:21 | ||||||
Grading comment
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SUMMARY OF ALL EXPLANATIONS PROVIDED | ||||
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4 +2 | must pay herself/himself for finding another proxy |
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3 +1 | must pay (the costs) of introducing/soliciting a rival proxy |
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must pay herself/himself for finding another proxy Explanation: More explanation here: Proxy machinery: In the absence of “even a substantial minority interest . . . control may be held by the directors or titular managers who can employ the proxy machinery to become a self-perpetuating body, even though as a group they own but a small fraction of the stock outstanding” Because few shareholders can attend the corporation’s annual meeting due to constraints of time and $, management solicits proxies from shareholders at corporation’s expense These proxies typically appoint management (or their nominees) as the shareholders’ representative to vote their shares at any annual or special meeting Persons wishing to oppose management must undertake a rival proxy solicitation, a very costly venture, at their own expense Stockholders may hesitate to back unknown rival proxy slate http://tinyurl.com/3c3qwy |
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Grading comment
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5 hrs confidence: peer agreement (net): +1
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