Danali Corporation has 2,500,000 shares of common stock outstanding. Danali has a 15-member board, and five will leave at the end of this year. There are nine candidates for these five openseats. The minority group of stockholders controls 45 percent of the shares, and the majority group controls the other 55 percentHow many voting shares would be needed to elect 3 directors?

Stockholders, also known as shareholders, are individuals or entities that hold shares of a…

Answered: Danali Corporation has 2,500,000 shares…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

See similar textbooks

Similar questions

You want a seat on the board of directors of Four Keys, Incorporated. The company has 220, 000 shares of stock outstanding and the stock sells for $69 per share. There are currently 5 seats up for election. If the company uses cumulative voting, how many shares do you need to guarantee that you will be elected to the board? Multiple Choice 33,001 shares 73,334 shares 110,001 shares 36,668 shares 44,000 shares
If there are 10 directors to be elected and a shareholder owns 120 shares, calculate the maximum number of votes that he or she can cast for a favorite candidate under each of the voting methods.
Mr. Meyers wishes to know how many shares are necessary to elect 3 directors out of 11 directors up for election in the Austin Power Company. There are 83,000 shares outstanding. (Do not round intermediate calculations.)
16 Midland Petroleum is holding a stockholders' meeting next month. Ms. Ramsey is the president of the company and has the support of the existing board of directors. All 12 members of the board are up for reelection. Mr. Clark is a dissident stockholder. He controls proxies for 51,001 shares. Ms. Ramsey and her friends on the board control 61,001 shares. Other stockholders, whose loyalties are unknown, will be voting the remaining 24,998 shares. The company uses cumulative voting. a. How many directors can Mr. Clark be sure of electing? (Do not round intermediate calculations. Round down your answer to the nearest whole number.) Number of directors b. How many directors can Ms. Ramsey and her friends be sure of electing? (Do not round intermediate calculations. Round down your answer to the nearest whole number.) Number of directors c-1. How many directors could Mr. Clark elect if he obtains all the proxies for the uncommitted votes? (Do not round intermediate calculations. Round down…
Suppose, you own 2,000 shares in a company with 5,000 shares outstanding. There are 8 directors up for election via cumulative voting. How many directors can you elect?" 3 2 1 5 4
Ms. Meyers wishes to know how many shares are necessary to elect 3 directors out of 9 directors up for election in the Austin Power Company. There are 88,000 shares outstanding. Note: Do not round intermediate calculations. > Answer is complete but not entirely correct. Number of shares 264,000 x
In September, the board of directors of chaparral steel approved a 2 for 1 stock split. After the split, how many shares of chaparral steel stock will an investor have if he or she owned 230 shares before the split?
ABC Co. needs to elect four individuals to board of directors position. ABC has 180,000 shares outstanding and the stock is currently selling for $30 . Individual A wants to serve on the board of directors. How much will it cost A (number of shares times price ) to buy a seat if the company uses straight voting? What if the firm uses cumulative voting? $2,700,030; $1,080,030 $2,640,030; $1,320,030 $2,700,030; $1,350,030 $2,640,030; 1,360,030 $2,710,030; $1,430,030
Aggregate Mining Corporation was incorporated five years ago. It is authorized to issue 500,000 shares of $100 par value 10% preferred stock. It is also authorized to issue 750,000 shares of $1 par value common stock. It has issued only 40,000 of the common shares and none of the preferred shares. In its sixth year, the corporation has the following transactions: Mar. 1 Declares a cash dividend of $2 per share. Mar. 30 Pays the cash dividend. Jul. 10 Declares a 5% stock dividend when the stock is trading at $20 per share. Aug. 5 Issues the stock dividend. Prepare the journal entries to record the transactions. If an amount box does not require an entry, leave it blank. Mar. 1 fill in the blank 2 fill in the blank 3 fill in the blank 5 fill in the blank 6 Mar. 30 fill in the blank 8 fill in the blank 9 fill in the blank 11 fill in the blank 12 Jul. 10 fill in the blank 14 fill in the blank 15 fill in the blank 17 fill in the blank 18…
David Rothchild owns 6,001 shares of the Motor Corp. There are 12 seats on the company board of directors, and the company has a total of 78,000 shares of stock outstanding. The Motor Corp. utilizes cumulative voting. A. Can David Rothchild elect himself to the board when the vote to elect 12 directors is held next week?
Midland Petroleum is holding a stockholders' meeting next month. Ms. Ramsey is the president of the company and has the support of the existing board of directors. All 12 members of the board are up for reelection. Mr. Clark is a dissident stockholder. He controls proxies for 41,001 shares. Ms. Ramsey and her friends on the board control 51,001 shares. Other stockholders, whose loyalties are unknown, will be voting the remaining 24,998 shares. The company uses cumulative voting. a. How many directors can Mr. Clark be sure of electing? Note: Do not round intermediate calculations. Round down your answer to the nearest whole number. Number of directors b. How many directors can Ms. Ramsey and her friends be sure of electing? Note: Do not round intermediate calculations. Round down your answer to the nearest whole number. Number of directors c-1. How many directors could Mr. Clark elect if he obtains all the proxies for the uncommitted votes? Note: Do not round intermediate calculations.…

Recommended textbooks for you

Essentials Of Investments

Finance

ISBN:

9781260013924

Author:

Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:

Mcgraw-hill Education,

FUNDAMENTALS OF CORPORATE FINANCE

Finance

ISBN:

9781260013962

Author:

BREALEY

Publisher:

RENT MCG

Financial Management: Theory & Practice

Finance

ISBN:

9781337909730

Author:

Brigham

Publisher:

Cengage

Essentials Of Investments

Finance

ISBN:

9781260013924

Author:

Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:

Mcgraw-hill Education,

FUNDAMENTALS OF CORPORATE FINANCE

Finance

ISBN:

9781260013962

Author:

BREALEY

Publisher:

RENT MCG

Financial Management: Theory & Practice

Finance

ISBN:

9781337909730

Author:

Brigham

Publisher:

Cengage

Foundations Of Finance

Finance

ISBN:

9780134897264

Author:

KEOWN, Arthur J., Martin, John D., PETTY, J. William

Publisher:

Pearson,

Fundamentals of Financial Management (MindTap Cou…

Finance

ISBN:

9781337395250

Author:

Eugene F. Brigham, Joel F. Houston

Publisher:

Cengage Learning

Corporate Finance (The Mcgraw-hill/Irwin Series i…

Finance

ISBN:

9780077861759

Author:

Stephen A. Ross Franco Modigliani Professor of Financial Economics Professor, Randolph W Westerfield Robert R. Dockson Deans Chair in Bus. Admin., Jeffrey Jaffe, Bradford D Jordan Professor

Publisher:

McGraw-Hill Education

SEE MORE TEXTBOOKS