In New York money manager owns a significant percentage of ordinary shares of Cleveland-Cliffs, the U.S. iron ore producer. The financial manager would prefer to pay the rocks or otherwise return $ 100 million in "excess cash" to shareholders. Management opposes the proposal, and instead argues for investment in the business. Money Manager offers an alternative to partial slate of directors. "Hide
by Jay O. Light, James E. Seiler Source: Harvard Business School 23 pages. Publication Date: September 15, 1992. Prod. #: 293051-PDF-ENG
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