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Midland Petroleum is holding a shareholders meeting next month. Ms. Ramsay is the president of the company and has the support of the existing board
Midland Petroleum is holding a shareholders meeting next month. Ms. Ramsay 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. Tbone Pickens is a dissident shareholder. He controls proxies for 50,001 shares. Ms. Ramsay and her friends on the board control 60,001 shares. Other shareholders, whose loyalties are unknown, will be voting the remaining 25,998 shares. The company uses cumulative voting. (Round down the final answers to the nearest whole number.) a. How many directors can Mr. Pickens be sure of electing? Number of directors b. How many directors can Ms. Ramsay and her friends be sure of electing? Number of directors C-1. How many directors could Mr. Pickens elect if he obtains all the proxies for the uncommitted votes? Number of directors
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