1.Herms International was a family-owned business for many years. Why did it then list its shares on a public market? What risks and rewards come from a public listing?

2.Bernard Arnault and LVMH acquired a large position in Herms shares without anyone knowing. How did they do it and how did they avoid the French regulations requiring disclosure of such positions?

3.The Herms family defended themselves by forming a holding company of their family shares. How will this work and how long do you think it will last?