1. Choose a large company with many subsidiaries and investments.
   1. Find examples of investments that are not consolidated. (For example, large insurance groups often have many consolidated subsidiaries.) 10 points
   2. In addition, some have affiliated but non-consolidated mutual companies.) Prepare a written memo on how a company could have de facto (in fact) control over another company without having de jure (majority of voting stock) control. 15 points

Note: Large company example is might be Johnson and Johnson.