PHILADELPHIA REFLECTIONS
Musings of a Philadelphia Physician who has served the community for six decades

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Legal Philadelphia
The American legal profession grew up in this town, creating institutions and traditions that set the style for everyone else. Boston, New York and Washington have lots of influential lawyers, but Philadelphia shapes the legal profession.

Parliamentary procedure(2)

Cartoon Fight

Although Parliamentary procedure started out as a way of reducing the number of cracked skulls in an angry group of arguing ruffians, it mainly did so by demonstrating how much more you get done, when you argue courteously. It really does work better if you have more logic on your side, . Orderly, courteous procedure is best. Furthermore, one topic at a time is also best, achieved only if the guys with other topics are confident the group will eventually get to their topic in its turn. And if you know the referee is neutral, will not allow a vote to be taken as long as someone still wants to speak. Or when the group is tired of the argument, it still can't quit until both sides have been heard, and the negative votes have been called for and counted. What emerges from these simple rules is an amazing discovery of the collective will of the whole group. If a large group of strangers convene to discuss a topic, following these rules it is seldom that any doubt emerges of the collective opinion of the group. Right or wrong, the opinion of the group.

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Shareholders

So if you want to determine what the medical profession thinks about abortion, or what the legal profession thinks about trial by jury, or what a whole nation thinks about going to war -- just choose representatives fairly, and let them conduct discussions according to Parliamentary Procedure. That's democracy; that's a republic. That's a system many people have died to preserve.

However, during the 19th Century a different type of organization, the corporation, appeared. It gets things done, it makes prosperity, it is successful. But it has never adequately achieved a credible system for determining its own wishes. If every shareholder held one share, and elected representatives democratically, the meetings of shareholders and directors might become little republics. But shareholders negotiate the price of their shares by bidding, and some people acquire many shares. If one person collects 51%of the shares, there is no further room for parliamentary dispute; the opinion of a majority of the shareholders is the opinion of one person. Because a corporation is a creation of government, it mirrors the process of government within what is called "corporate governance". We tend to follow the outward forms of parliamentary process even when in fact there is no substance to them. We thus can observe the amusing farce of the well dressed, well mannered majority owner of a corporation -- smilingly and courteously listening to an angry shareholder with only one share, sometimes rising from the audience with a bull horn. Shout all you please, the man with the three-piece suit is going to have his way.

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But corporations have become so large and successful, that to raise adequate capital they sell thousands or even billions of ownership shares. In those situations, which very nearly run all that matters in the country, a shareholder of a fraction of one percent of the outstanding shares may be able to control the corporation. A dozen of such people can band together and act as though they own the company completely. Ownership through mutual funds or index funds makes shareholder control even more remote. Quite commonly the shareholders lose control entirely, and the hired managers exercise effective control. A system designed to determine the collective will of the shareholders thus eventually reaches the point where the will of the shareholders can be ignored by the people they hired. In effect, the number of voters and the number of shares have outgrown parliamentary rules and procedures, and in fact continuing to use that format leads to mischief. The hired employees occasionally arrange for salaries for themselves of hundreds of millions, or they can turn the corporation into a private charity, or even ruin it as an economic entity by careless slothful management. The legal term for this process is "imperfect agency", and the country seems to be getting annoyed enough to want to make some changes. But if it is intended to determine the will of the owners, someone will have to devise an agreed way of finding out what the will of the owners really amounts to. If we don't, we are going to have to reconsider clubs, spears and swords. Welcome to Runnymede,, King John, we have a matter we wish to discuss with you.

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That's the best pub you can make? That's a childish bhveaior. Let people work and keep doing your work the best you can. Mandriva (Mandrake) existed before Edge-It. Mageia is a good effort and a good distro. Both can exist.Hope the best for Mandriva. There are a lot's of people who like Mandriva around the world that will like to see Mandriva with a bright future. If you don't
Posted by: Tanusree   |   Jun 2, 2012 7:03 AM
Sometimes I also see something like this, but earlier I didn`t pay much attention to this!....
Posted by: cheapoair promo code   |   Feb 13, 2012 9:45 AM
Sorry for the off-topic, could you tell where I can get such a nice pattern for my blog ?!....
Posted by: esalerugs coupons   |   Feb 13, 2012 9:23 AM
From forwarded email:

Dear Dr. Fisher,

I have written my PhD-thesis about the influence of marketing assets on shareholder value. Now I am going to publish it at "Tectum" book publisher - a small scientific German book publisher.

While designing the cover, I found your picture "shareholders" on your homepage which symbolizes my topic very good. Therefore my question: May I use your picture for the cover of my book? The edition will be very small and the book addresses mainly researchers (professors, students). The cover of my book is the final highlight of my PhD-thesis and will always remind me of the hard work and dedication I put to this book! Therefore it would be a great gesture if you allow me to use this picture.


Thanks a lot for your support!

Yours
Valerie Wulfhorst
__________________________

Dr. Valerie Wulfhorst
Ruhr-Universität Bochum
MIB - Lehrstuhl für Marketing (Prof. Dr. Rese)
GC 4/156
Universitätsstr. 150
D-44780 Bochum
Tel.: +49 (0) 2 34/32-2 38 46
Fax: +49 (0) 2 34/32 -1 42 72
valerie.wulfhorst@ruhr-uni-bochum.de
http://www.mib.ruhr-uni-bochum.de
Posted by: Valerie Wulfhorst   |   Jan 13, 2009 9:19 AM

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