Dominant dozen: who owns energy corporations

Journal Article · Mon Dec 01 04:00:00 EST 1980 · Public Power; (United States)

OSTI ID:6734440

Reinemer, V ^[1]

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1. ed.

Control of corporations by financial institutions can be gained with a relatively small percentage of voting stock if it is combined with representation on the boards of directors, business arrangements, and mutual agreements between the investors and the corporation. The CDE Stock Ownership Directory, IV - Energy, published by Corporate Data Exchange, Inc., 198 Broadway, New York, NY 10038, documents the concentration of stock ownership of the top 38 energy corporations, the 52 largest institutional investors in the energy industry, and managers who control only five percent of corporate stock. Principal findings are: (1) in the 38 major energy corporations the top 20 stockholders control, on average, 32% of the stock; the top 5 holders 21%; (2) principal investors are usually from among 53 firms; (3) in 53 of the energy firms in the study, at least one stockholder controls 5% or more of the stock; and (4) pension and employee funds are heavily invested in key energy corporations. In contrast to this documentation, corporate advertising promotes the idea that companies are owned by widows, employees, and other small investors. 3 tables. (DCK)

• OSTI ID: 6734440
• Journal Information: Public Power; (United States), Journal Name: Public Power; (United States) Vol. 38:6; ISSN PUPOA
• Country of Publication: United States
• Language: English

Related Subjects

29 ENERGY PLANNING, POLICY, AND ECONOMY
290200* -- Energy Planning & Policy-- Economics & Sociology
CONTROL
ENERGY SOURCE DEVELOPMENT
INDUSTRY
INVESTMENT
MANAGEMENT
OWNERSHIP