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Generally, if a company receives a substantial vote against its say-on-pay proposal (even if less than a majority of shares voting at the meeting), investors will expect the company to either make changes to its compensation program going forward or to provide an understandable rationale for not making such changes.
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If NSI retained less than a majority interest, and no control, it would still have a clear financial interest in cross-promoting the business between the two--limited only by the other clauses of the agreement and, at the margins, antitrust law.
Ironically, most governmental elections in the United State use plurality voting, in which the candidate with the most votes wins, even if they received less than a majority.
If a faction consists of less than a majority, relief is supplied by the republican principle, which enables the majority to defeat its sinister views by regular vote: It may clog the administration, it may convulse the society; but it will be unable to execute and mask its violence under the forms of the Constitution.
"If a faction consists of less than a majority, relief is supplied by the republican principle, which enables the majority to defeat its sinister views by regular vote".
Madison's argument does not mention legislative minorities at all, save for this: "If a faction consists of less than a majority, relief is supplied by the republican principle, which enables a majority to defeat its sinister views by regular vote".
The Conservatives also intimated that if Labour were to win with less than a majority, it would likely form a coalition with the Scottish National Party (SNP) that would drive the government's agenda with its desire for independence.
If Miliband wakes up with anything less than a majority on 8 May – because 13% of traditional Labour voters have voted Ukip – there will essentially be two ways forward.
Whites in Texas, meanwhile, are already less than a majority.
And President Clinton was chosen by less than a majority of the votes cast.
In contrast, a director who receives less than a majority of the votes cast will not be elected under a majority voting regime.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com