Purchase Solution

Beasley Corporation Case - Cumulative Voting

Not what you're looking for?

Ask Custom Question

The Beasley Corporation has been experiencing declining earning, but has just announced a 50 percent salary increase for its top executives. A dissident group of stockholders wants to oust the existing board of directors. There are currently 11 directors and 30,000 shares of stock outstanding. Mr. Wright, the president of the company ,has the full support of the existing board. The dissident stockholders control proxies for 10,oo1 shares.Mr. Wright is worried about losing his job.

a. Under cumulative voting procedures, how many directors can the dissident stockholders elect with the proxies they now hold? How many directors could they elect under majority rule with these proxies? B. How many shares or proxies are needed to elect six directors under cumulative voting?

Purchase this Solution
Solution Summary

This solution is comprised of a detailed explanation and calculation to compute the cumulative voting for the Beasley Corporation.

Solution Preview

The Beasley Corporation has been experiencing declining earning, but has just announced a 50 percent salary increase for its top executives. A dissident group of stockholders wants to oust the existing board of directors. There are currently 11 directors and 30,000 shares of stock outstanding. Mr. Wright, the president of the company ,has the full support of the existing board. The dissident stockholders control proxies for 10,oo1 shares.Mr. Wright is worried about losing his job.

a. Under cumulative voting procedures, how many directors can the dissident stockholders elect with the ...

Purchase this Solution
Free BrainMass Quizzes
Introduction to Finance

This quiz test introductory finance topics.

Marketing Management Philosophies Quiz

A test on how well a student understands the basic assumptions of marketers on buyers that will form a basis of their marketing strategies.

Organizational Leadership Quiz

This quiz prepares a person to do well when it comes to studying organizational leadership in their studies.

Managing the Older Worker

This quiz will let you know some of the basics of dealing with older workers. This is increasingly important for managers and human resource workers as many countries are facing an increase in older people in the workforce

Operations Management

This quiz tests a student's knowledge about Operations Management

View More Free Quizzes
Related BrainMass Solutions

  • Worldwide Scientific Equipment, Beasley Corporation , Cox Media Corporation: Finance Problems

    82080 Worldwide Scientific Equipment, Beasley Corporation , Cox Media Corporation: Finance Problems (See attached file for full problem descriptions) Cox Media Corporation pay an 11 percent coupon rate on debentures that are due in 20 years.

  • Managerial Finance

    Cumulative voting is required under the corporate laws of some states, and is at the discretion of the corporation in most others.

    a.

  • Election of Directors

    The solution explains the calculation of required votes to elect a director using majority voting and cumulative voting using the example of Blue Moon Corporation

  • voting rights,directors election

    208812 Galaxy Corporation: election of directors with cumulative voting by shareholders Galaxy Corporation is holding a stockholders' meeting next month. Mr.

  • voting rights

    Other stockholders, whose loyalties are unknown, will be voting the remaining 19,998 shares. The company uses cumulative voting. a. How many directors can Mr. Levine be sure of electing? b. How many directors can Mr.

  • United States v. Hayes International Corporation (1986)

    Hayes International Corporation (1986) Read the information about this case in Chapter 1 of Environmental Law. Conduct research for additional information pertaining to the case.

  • common stockholders of a corporation - rights

    Statutory voting allows using all votes for each of the vacancies for the board of directors; cumulative voting increases the number of votes that a stockholder can use for a particular candidate.

  • Corporate Debt Expansion

    Why might a corporation use a special category such as founders' stock in issuing common stock? 3. What is the purpose of cumulative voting? Are there any disadvantages to management? 1.

  • Cumulative Voting

    216506 Cumulative Voting Anita Job owns 507 shares in the Rapid Employment Corp. (a firm that provides temporary work). There are 11 directors to be elected. Twenty-one thousand shares are outstanding. The firm has adopted cumulative voting.

View More Related Solutions