“Comment, question or quotation of the day”

25-09-2017 : So typically American!

Facebook had plans to distribute new non-voting shares to its shareholders allowing Mr. Zuckerberg to continue to sell Facebook shares without falling below 50% of the voting rights; a level of votes he gets thanks to a third category of shares with 10 voting rights per share. The country that prides itself on being the champion of good governance is far from putting it into practice at home (one seventh of the S & P 500 members have several classes of shares with your different rights).
Shareholders took the case to court and Facebook has just withdrawn its project. If in France, everything ends with songs according to the Canadian proverb, in the United States, it is with a trial that everything ends!
To get the week off to a good start, remember that since July the SP500 index manager no longer accepts multi-class stock companies in its index; even if those already in the index can keep them in place.
Have a nice day (with songs and without being sued if possible ...).

22-09-2017 : Quote of the day

"I've reluctantly discarded the notion of my continuing to manage the portfolio after my death - abandoning my hope to give new meaning to the term "thinking outside the box."   Warren Buffett


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The Vernimmen.com Letter

Number 105 of 105 July 2017

News : Do you want to improve your corporate finance skills?

News : Investor reaction to a capital increase

Statistics : Corporate income tax rates around the world

Research : Childhood and psychology of CEOs

Q&A : What are the main reasons for the variability in the apparent income tax rate?