Focus on fashion?

Tiqui1999 , 9/6/2023, 2:34PM(256 days ago) @matisse

It feels like things are settling up for a return to a business power struggle. Steffy will be gone, Ridge and Eric are conflicted, RJ is aligning himself with his grandfather, Hope and Thomas seem to be on fire in the industry and bedroom! So, what if in Steffy’s absence there becomes a battle for control? Who will Brooke side with? We already know Katie and Carter disagree, is it over who controls FC? Who exactly has the most shares now ? Donna being with Eric could even put the Logan sisters at odds and who would Taylor back?? Could be fun to go down this road!

I don’t think they are changing ridge and steffy…..I thought Eric retired years ago just helps out …steffys gone few months why would this even happen

Eric is not retired and that is what he has been trying to get through Ridge's egotistical head. And whether realistic or not, on this show, Eric has control over who can, and cannot BE CEO. Eric has 37.5% of the stock, but he has 100% of the say-so over who runs the company. They have addressed this twice since Stephanie died. Majority stock does not get final say. Besides, this show needs something different than the misfit triangles. Time for a business SL....and what better than mixing people from both families and pitting them against each other....with BILL having all the media power to destroy them.

Majority stock does have a say. Ridge , Steffy and Liam (as Bill's proxy) used it when they ousted Rick and took over running the company. Eric could do nothing about it.
Stephanie also said majority rules in her video will. In reference to not giving Thomas her stocks....
If he gets that stock, then he has absolute control over the company, and I don't believe that's the right thing. I think the important thing, for the good of the company, is to return those shares to my husband Eric.
Eric no longer has majority stock. He would need Steffy or Ridge for that.

How would Tom have had absolute majority stock when he would only have had 25% of the stock? That is how much Stephanie had when she made that deal with him. I believe that Stephanie in that video gave Eric complete control over who would be CEO or not, and it had something to do with the same rider that her dad made Eric put into the articles of incorporation when he loaned Eric the start-up money. Stephanie's dad had a rider put in that said Stephanie had final say-so over everyone no matter how much stock they owned, when it came to who controlled the company. FC is privately owned...so that was something that could be done.

I think Eric has it too, or how else was he able to decide who would be the CEO between I think it was Rick and Thomas when ridge left? I don't remember so I'd have to look it up.

OK I went back to look at the transcripts from 2005 and 2012. If I read it correctly it went like this....FC was originally in a trust with Stephanie as the trust owner....which Eric knew about and kept hidden from Stephanie. He had to sign that deal or Mr. Douglas would not have loaned him the $100,000. Stephanie finds out the truth in 2005, before Bill got control of FC....and she tossed Eric out and made herself CEO. Then in 2012, she was dying, and she signed the trust over to Eric, the control of the company specifically, to Eric. How it worked was this way....people can have the stock, but they could no longer VOTE the stock. Which actually can be a real thing in privately held companies. Eric has final say over everything that is decided in the company....if he chooses. They own the stock, but they cannot vote the stock. They just benefit from the proceeds netted by the company and their dividends are based on how much stock they own.

Now that's interesting. It's interesting that that could have outlasted Nick and Bill taking control of the company or were those things before 2005?

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