events, and actions the company has taken. Your friend chooses his companies randomly, pays no
attention to the financial news, and spends his leisure time focused on everything besides his

investments. Explain what might be the performance for each of your portfolios at the end of the year.

35. How do bank failures cause the economy to go into recession?

Problems

36. The Darkroom Windowshade Company has 100,000 shares of stock outstanding. The investors in the firm

own the following numbers of shares: investor 1 has 20,000 shares; investor 2 has 18,000 shares; investor

3 has 15,000 shares; investor 4 has 10,000 shares; investor 5 has 7,000 shares; and investors 6 through 11

have 5,000 shares each. What is the minimum number of investors it would take to vote to change the

company's top management? If investors 1 and 2 agree to vote together, can they be certain of always

getting their way in how the company will be run?

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17 • Problems 433
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