Within the span of one year, the stock market lost 50% of its value, which is equal to over $7.4 trillion. Charitable foundations have been obliterated. State pension funds have been crippled. The man on the street who sought to manage his own retirement fund and invest in the stock market has been left stunned and his financial health a shadow of its former self.
In healthy economic times, having a successful business is challenging. However, in difficult economic times, good business practices determine viability.
Probably by now everyone has heard of the ongoing divorce between George David, the former United Technologies Corp. CEO and current Chairman of the Board, with his estranged wife, Marie Douglas-David, the Swedish countess.
In Gantler v. Stephens[1], the Delaware Supreme Court recently reversed a Court of Chancery's dismissal of a case against officers and directors of a bank holding company for rejecting an acquisition offer due to a majority of the Board of Directors' conflict of interest.
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