Other people's money is a moral dilemma of a movie. The story revolves around Lawrence “Larry the Liquidator” Garfinkle, a wealthy Investor from new york. Garfinkle is performing a hostile takeover on a local Company called New England Wire and Cable. His intention is the Liquidate the Wire and Cable division to raise the stock price for the other three divisions. The president of the company and next in line to own is Bill Coles. Bill Coles is Rattled by the situation. He believes that the owner Andrew Jorgenson should follow the advice of their lawyer and buy out Garfinkle. Jorgenson is a persistent man and eventually decides that ownership of the company should be held to a vote of the shareholders. With this news, Bill Coles is frightened that there could be no company left for him to run once Jorgenson retires. Bill is faced with a moral dilemma, does he sell his share votes to Garfinkle or vote loyally to his friend Jorgenson? Bill ends up striking a deal with Garfinkle because he believes that Jorgenson will not win the vote. Jorgenson ends up losing the vote 1,741,416 - 2,219,901. Bill's votes ended up not affecting the outcome and comes out with a million dollars to show for himself but he is a sellout and betrays his friend.
Bill's decision is a tough one. On one hand, if he votes his mind he votes for the long term. If he sells his votes he has a guaranteed Million dollars. It is very ambiguous how the vote may go at this point. Bill is placing himself before the people who have helped and even offered the company to him after they retire. Bill could squander this relationship and opportunity if he plays his cards wrong. The movie does not show repercussions for Bill's actions but one could imagine that they would be immense and run deep. While it may be legal the sell stock voting rights one could argue there is a moral and social case against it.
Selling shares can have a tremendous effect on people and society. It can affect Everyone from the worker to the Corporate owner. Workers can be laid off due to liquidation or shareholders can potentially gain or lose millions. Corporate owners can lose their business and the individual taking over could be wrong. Society's stance on this is widely varying. The Worker and their family would hate for a hostile takeover to affect them but the stockholder could see this as a huge payday. The general conscious is selling your vote rather than voting your mind is frowned upon. If we can't sell our political vote why should you be able to sell your corporate vote? Money should not be an instrument to achieve a decision that should be based on democracy. If people did not vote for what they believe in then the true decision will not be revealed. If Jorgenson hadn't been voted out his corporation would have been just fine due to the wire mesh contract just around the corner. The Wire and Cable market may have been diminished but it did not stop it from being revitalized by a new innovation.
