Now what's our mantra of this day and age I wonder?

And the equity holders get wiped out, the old equity holders.

It's the split of just the equity part right over here

You're essentially writing a check to the equity holders of this company, the shareholders of this company, they benefited from all the reward of the last five years of getting the returns on that stock price and the dividends and whatever else.

So what did we find after computing all this network control?

Ownership has its privileges.

In the next step, we built the network around these companies, so we took all the TNCs' shareholders, and the shareholders' shareholders, etc., all the way upstream, and we did the same downstream, and ended up with a network containing 600,000 nodes and one million links.

He still owns 7 of the company.

I'm the sole shareholder.

What kind of fugitive?

Strobe return

And he owes this is his asset, and his liabilities is he owes one share of IBM to the broker.

He'll be impaired a little bit.

Negative return.

Strobe return light detected

And then each of these guys would get 5.00.

because they're both on the right hand side.

I own the controlling stock of the Messenger.

I can make cupcakes too and I have some money to build a factory.

The shareholder's meeting was held.

And it's been a great motivator.

And if there wasn't enough money to pay all of the debt holders, then the equity holders got nothing.

Yes, I'm a stockholder.

But they come back.

This is the building.

Uh,we were wondering about one of frobisher's shareholders.

So 5 million of liabilities.

I don't give it to my employees.

Not the old shares.

liabilities plus equity.

The board of directors of a firm is essentially elected by the shareholders.

So essentially, whoever lent Loan C, all of these shares are now their shares.

Shareholders are going to go after the rest of Frobisher's fortune.

So, remember, assets are equal to liabilites plus shareholder's equity, so if all of a sudden the market value of the equity, the market capitalization, for Ben's shoe company is 215,000... (That is the equity part right over here)

Should Shareholders Be Kings?

In a world without leverage so if I didn't have all this

Coming up to negative return.

But then the banks will come back with new equity.

And it gets even more extreme.

I use 100 gold pieces.

My new balance you will look like this 150 and 150.

And ask the respondent to stipulate that the articles of incorporation state the ownership as follows

And I think this is very obvious to you, but let me write that down.

Fired, strobe return light

No strobe return light detected