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Dodge V. Ford Motor Company
''Dodge v. Ford Motor Co.'', 204 Mich 459; 170 NW 668 (1919), is a case in which the Michigan Supreme Court held that Henry Ford had to operate the Ford Motor Company in the interests of its shareholders, rather than in a manner for the benefit of his employees or customers. It is often taught as affirming the principle of " shareholder primacy" in corporate America, although that teaching has received some criticism. , in Delaware, the jurisdiction where over half of all U.S. public companies are domiciled, shareholder primacy is still upheld. Under some interpretations, the case also affirmed that the business judgment rule that directors may exercise is expansive, leaving Ford and other businesses a wide latitude about how to run the company, if management decisions can point to any rational link to benefiting the corporation as a whole. Facts By 1916, the Ford Motor Company had accumulated a surplus of $60 million. The price of the Model T, Ford's mainstay product, ha ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Michigan Supreme Court
The Michigan Supreme Court is the highest court in the U.S. state of Michigan. It is Michigan's court of last resort and consists of seven justices. The Court is located in the Michigan Hall of Justice at 925 Ottawa Street in Lansing, the state capital. Operations Each year, the Court receives approximately 2,000 new case filings. In most cases, the litigants seek review of Michigan Court of Appeals decisions, but the Supreme Court also hears cases of attorney misconduct (through a bifurcated disciplinary system comprising an investigation and prosecution agency – the Attorney Grievance Commission – and a separate adjudicative agency – the Attorney Discipline Board), judicial misconduct (through the Judicial Tenure Commission), as well as a small number of matters over which the Court has original jurisdiction. The Court issues a decision by order or opinion in all cases filed with it. Opinions and orders of the Court are reported in an official publication, ''Michig ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Delaware General Corporation Law
The Delaware General Corporation Law (sometimes abbreviated DGCL), officially the General Corporation Law of the State of Delaware (Title 8, Chapter 1 of the Delaware Code), is the statute of the Delaware Code that governs corporate law in the U.S. state of Delaware. The statute was adopted in 1899. Since the 1913 anti-corporation reforms in New Jersey under the governorship of Woodrow Wilson, Delaware has become the most prevalent jurisdiction in United States corporate law and has been described as the ''de facto'' corporate capital of the United States. Delaware is considered a corporate haven because of its business-friendly/anti-consumer corporate laws compared to most other U.S. states. 66% of the ''Fortune'' 500, including Walmart and Amazon (two of the world's largest companies by revenue) are incorporated (and therefore have their domiciles for service of process purposes) in the state. Over half of all publicly traded corporations listed in the New York Stock Exc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Benefit Corporation
In business, and only in United States corporate law, a benefit corporation (or in some states, a public benefit corporation) is a type of for-profit corporate entity whose goals include making a positive impact on society. Laws concerning conventional corporations typically do not define the "best interest of society", which has led some to believe that increasing shareholder value (profits and/or share price) is the only overarching or compelling interest of a corporation. Benefit corporations explicitly specify that profit is not their only goal. An ordinary corporation may change to a benefit corporation merely by stating in its approved corporate bylaws that it is a benefit corporation. A company chooses to become a benefit corporation in order to operate as a traditional for-profit business while simultaneously addressing social, economic, and/or environmental needs. For example, a 2013 study done by MBA students at the University of Maryland showed that one main reas ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Board Of Directors
A board of directors is a governing body that supervises the activities of a business, a nonprofit organization, or a government agency. The powers, duties, and responsibilities of a board of directors are determined by government regulations (including the jurisdiction's corporate law) and the organization's own constitution and by-laws. These authorities may specify the number of members of the board, how they are to be chosen, and how often they are to meet. In an organization with voting members, the board is accountable to, and may be subordinate to, the organization's full membership, which usually elect the members of the board. In a stock corporation, non-executive directors are elected by the shareholders, and the board has ultimate responsibility for the management of the corporation. In nations with codetermination (such as Germany and Sweden), the workers of a corporation elect a set fraction of the board's members. The board of directors appoints the ch ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
New York University
New York University (NYU) is a private university, private research university in New York City, New York, United States. Chartered in 1831 by the New York State Legislature, NYU was founded in 1832 by Albert Gallatin as a Nondenominational Christianity, non-denominational all-male institution near New York City Hall, City Hall based on a curriculum focused on a secular education. The university moved in 1833 and has maintained its main campus in Greenwich Village surrounding Washington Square Park. Since then, the university has added an engineering school in Brooklyn's MetroTech Center and graduate schools throughout Manhattan. NYU is one of the largest private universities in the United States by enrollment, with a total of 51,848 enrolled students in 2021. It is one of the most applied-to schools in the country and admissions are considered selective. NYU's main campus in New York City is organized into ten undergraduate schools, including the New York University College ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Dodge
Dodge is an American brand of automobiles and a division of Stellantis, based in Auburn Hills, Michigan. Dodge vehicles have historically included performance cars, and for much of its existence, Dodge was Chrysler's mid-priced brand above Plymouth. Founded as the Dodge Brothers Company machine shop by brothers Horace Elgin Dodge and John Francis Dodge in the early 1900s, Dodge was originally a supplier of parts and assemblies to Detroit-based automakers like Ford. They began building complete automobiles under the "Dodge Brothers" brand in 1914, predating the founding of the Chrysler Corporation. The factory located in Hamtramck, Michigan, was the Dodge main factory from 1910 until it closed in January 1980. John Dodge died from the Spanish flu in January 1920, having lungs weakened by tuberculosis 20 years earlier. Horace died in December of the same year, perhaps weakened by the Spanish flu, but the cause of death was cirrhosis of the liver. Their company was sold b ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Spoliation
{{Disambiguation ...
Spoliation may refer to: *Looting * Spoliation of evidence in a criminal investigation * The deconstruction of buildings for Places and organizations * Front Multiculturel Anti Spoliation * Sanctuary of the Spoliation * Spoliation Advisory Panel See also *Nazi plunder Nazi plunder () was organized stealing of art and other items which occurred as a result of the Art theft and looting during World War II, organized looting of European countries during the time of the Nazi Party in Nazi Germany, Germany. Jewi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Obiter Dicta
''Obiter dictum'' (usually used in the plural, ''obiter dicta'') is a Latin phrase meaning "said in passing",''Black's Law Dictionary'', p. 967 (5th ed. 1979). that is, any remark in a legal opinion that is "said in passing" by a judge or arbitrator. It is a concept derived from English common law, whereby a judgment comprises only two elements: ''ratio decidendi'' and ''obiter dicta''. For the purposes of judicial precedent, ''ratio decidendi'' is binding, whereas ''obiter dicta'' are persuasive only. Significance A judicial statement can be ''ratio decidendi'' only if it refers to the crucial facts and law of the case. Statements that are not crucial, or which refer to hypothetical facts or to unrelated law issues, are ''obiter dicta''. ''Obiter dicta'' (often simply '' dicta'', or ''obiter'') are remarks or observations made by a judge that, although included in the body of the court's opinion, do not form a necessary part of the court's decision. In a court opinion, ''obiter d ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Horace Elgin Dodge
Horace Elgin Dodge Sr. (May 17, 1868 – December 10, 1920) was an American automobile manufacturing pioneer and co-founder of Dodge, Dodge Brothers Company. Early years and business He was born in Niles, Michigan, on May 17, 1868.Burton, Clarence M., ed. (1922)''The City of Detroit, Michigan, 1701-1922'' Vol. IV, pp. 308–313. The S. J. Clarke Publishing Company. His father owned a foundry and machine shop. Horace Dodge and his elder brother John Francis Dodge were inseparable as children and as adults. The pair was noted for personal initiative and once built a working high-wheel bicycle from scrap materials. In 1886, the Dodge brothers moved to Detroit, Detroit, Michigan, where they took jobs at Murphy Boiler Works, a boilermaker plant owned by a marine engineer named Thomas Murphy. In 1894, they went to work as machinists at the Canadian Typograph Company across the Detroit River in Windsor, Ontario. In 1896, Horace Dodge married Anna Thompson Dodge, Anna Thompson in Wind ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
John Francis Dodge
John Francis Dodge (October 25, 1864 – January 14, 1920) was an American automobile manufacturing pioneer and co-founder of Dodge Brothers Company. Biography Dodge was born in Niles, Michigan, where his father ran a foundry and machine shop. John and his younger brother, Horace, were inseparable as children and as adults. The origins of the Dodge family was earlier thought to lie in Stockport, England, where a Dodge ancestral home still stands (Halliday Hill Farmhouse in Listed buildings in Stockport), however recent DNA testing conducted by the Dodge Family Association has shown that many of the USA Dodges are in fact descended from Dodges who emigrated from East Coker, Somerset. In 1886, the Dodge family moved to Detroit, where John and Horace took jobs at a boiler maker plant. In 1894 they went to work as machinists at the Dominion Typograph Company in Windsor, Ontario, Canada. While John was the sales-minded managerial type, his brother Horace was a gifted mechani ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Dividend
A dividend is a distribution of profits by a corporation to its shareholders, after which the stock exchange decreases the price of the stock by the dividend to remove volatility. The market has no control over the stock price on open on the ex-dividend date, though more often than not it may open higher. When a corporation earns a profit or surplus, it is able to pay a portion of the profit as a dividend to shareholders. Any amount not distributed is taken to be re-invested in the business (called retained earnings). The current year profit as well as the retained earnings of previous years are available for distribution; a corporation is usually prohibited from paying a dividend out of its capital. Distribution to shareholders may be in cash (usually by bank transfer) or, if the corporation has a dividend reinvestment plan, the amount can be paid by the issue of further shares or by share repurchase. In some cases, the distribution may be of assets. The dividend received by ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Shareholders
A shareholder (in the United States often referred to as stockholder) of corporate stock refers to an individual or legal entity (such as another corporation, a body politic, a trust or partnership) that is registered by the corporation as the legal owner of shares of the share capital of a public or private corporation. Shareholders may be referred to as members of a corporation. A person or legal entity becomes a shareholder in a corporation when their name and other details are entered in the corporation's register of shareholders or members, and unless required by law the corporation is not required or permitted to enquire as to the beneficial ownership of the shares. A corporation generally cannot own shares of itself. The influence of shareholders on the business is determined by the shareholding percentage owned. Shareholders of corporations are legally separate from the corporation itself. They are generally not liable for the corporation's debts, and the shareholders' ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
