Friday, April 28, 2006

Majority vs Plurality

While this may be useful for all classes, it is EXACTLY what we were talking about when Chris Kinslow was lecturing!

Company News |
"Bank of America Corp. (BAC.N: Quote, Profile, Research) shareholders, rejecting management's recommendation, on Wednesday voted to urge the No. 2 U.S. bank to require that directors be elected by majority vote.

At the bank's annual meeting near its Charlotte, North Carolina, headquarters, holders of 56 percent of Bank of America shares said the board of directors should begin a process to amend its certificate of incorporation or by-laws to require a majority vote.
"Bank of America had urged that shareholders turn down the proposal. It said the current system, under which directors are elected by plurality"

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