Ch 4, Instructor’s Manual, Business & Society, Carroll 10e
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Distribute the Following for Part 2 to the Respective Director Candidates
Director Candidate A
Murray Rentals, Inc. is a new, privately-held company that owns and operates buildings for
commercial lease and apartments and homes for residential lease in western Kentucky. The
residential leases range from executive home rentals on two major lakes to college apartments,
including one of the largest collegiate rentals, Racer Place. The CEO of Murray Rentals, Inc.
will serve as a member of the board.
Director Candidate B
Murray Rentals, Inc. is a new, privately-held company that owns and operates buildings for
commercial lease and apartments and homes for residential lease in western Kentucky. The
residential leases range from executive home rentals on two major lakes to college apartments,
including one of the largest collegiate rentals, Racer Place. The CEO of Murray Rentals, Inc.
will serve as a member of the board.
Director Candidate C
Ch 4, Instructor’s Manual, Business & Society, Carroll 10e
Murray Rentals, Inc. is a new, privately-held company that owns and operates buildings for
Director Candidate D
Murray Rentals, Inc. is a new, privately-held company that owns and operates buildings for
commercial lease and apartments and homes for residential lease in western Kentucky. The
residential leases range from executive home rentals on two major lakes to college apartments,
including one of the largest collegiate rentals, Racer Place. The CEO of Murray Rentals, Inc.
will serve as a member of the board.
Director Candidate E
Murray Rentals, Inc. is a new, privately-held company that owns and operates buildings for
commercial lease and apartments and homes for residential lease in western Kentucky. The
residential leases range from executive home rentals on two major lakes to college apartments,
including one of the largest collegiate rentals, Racer Place. The CEO of Murray Rentals, Inc.
will serve as a member of the board.
You are the CEO’s spouse. You have an accounting degree and have worked as a CPA for over
15 years. In the course of your work as a CPA, you have primarily focused on personal and
corporate taxes.
Ch 4, Instructor’s Manual, Business & Society, Carroll 10e
Director Candidate F
Murray Rentals, Inc. is a new, privately-held company that owns and operates buildings for
commercial lease and apartments and homes for residential lease in western Kentucky. The
residential leases range from executive home rentals on two major lakes to college apartments,
including one of the largest collegiate rentals, Racer Place. The CEO of Murray Rentals, Inc.
will serve as a member of the board.
Director Candidate G
Murray Rentals, Inc. is a new, privately-held company that owns and operates buildings for
commercial lease and apartments and homes for residential lease in western Kentucky. The
residential leases range from executive home rentals on two major lakes to college apartments,
including one of the largest collegiate rentals, Racer Place. The CEO of Murray Rentals, Inc.
will serve as a member of the board.
You are a local restaurant owner. You have recently entered into a two-year lease with Murray
Rentals, Inc. for a property located on Main Street. You are pleased with the space so far, but
Distribute the Following for Part 3 to the Respective Participants
Ch 4, Instructor’s Manual, Business & Society, Carroll 10e
The CEO
You serve on the board of directors for Murray Rentals, Inc. You previously received notice in
accordance with the bylaws that a board meeting was schedule for today at 12:30. You received
the following agenda in connection with the notice:
Agenda for Board Meeting
I. Quorum
II. Approval of Past Board Minutes
III. Nominating Committee Report
IV. Audit Committee Report
V. Current Operations Reports
VI. Acquisition of New Properties
You are the chair of the board and are in charge of today’s meeting. You have asked Director 1,
the chair of the nominating committee, to give the nominating committee report, Director 3, the
Director 1
You serve on the board of directors for Murray Rentals, Inc. You previously received notice in
accordance with the bylaws that a board meeting was schedule for today at 12:30. You received
the following agenda in connection with the notice:
Agenda for Board Meeting
I. Quorum
II. Approval of Past Board Minutes
III. Nominating Committee Report
Ch 4, Instructor’s Manual, Business & Society, Carroll 10e
IV. Audit Committee Report
V. Current Operations Reports
VI. Acquisition of New Properties
Director 2
You serve on the board of directors for Murray Rentals, Inc. You previously received notice in
accordance with the bylaws that a board meeting was schedule for today at 12:30. You received
the following agenda in connection with the notice:
Agenda for Board Meeting
I. Quorum
II. Approval of Past Board Minutes
Director 3
You serve on the board of directors for Murray Rentals, Inc. You previously received notice in
accordance with the bylaws that a board meeting was schedule for today at 12:30. You received
the following agenda in connection with the notice:
Agenda for Board Meeting
I. Quorum
II. Approval of Past Board Minutes
III. Nominating Committee Report
IV. Audit Committee Report
V. Current Operations Reports
VI. Acquisition of New Properties
You ask appropriate questions when necessary and aim to fulfill your fiduciary duties as a
director.
Ch 4, Instructor’s Manual, Business & Society, Carroll 10e
Director 4
You serve on the board of directors for Murray Rentals, Inc. You previously received notice in
accordance with the bylaws that a board meeting was schedule for today at 12:30. You received
the following agenda in connection with the notice:
Agenda for Board Meeting
I. Quorum
II. Approval of Past Board Minutes
Director A
You serve on the board of directors for Murray Rentals, Inc. You previously received notice in
accordance with the bylaws that a board meeting was schedule for today at 12:30. You received
the following agenda in connection with the notice:
Agenda for Board Meeting
I. Quorum
II. Approval of Past Board Minutes
You ask appropriate questions when necessary and aim to fulfill your fiduciary duties as a
director.
You will learn in the course of the meeting that the CEO would like to see Murray Rentals
extend its property holdings to include the property called “Murray Mall” by the locals. This
Ch 4, Instructor’s Manual, Business & Society, Carroll 10e
property is currently leased by the following tenants: Office Deport, Goody’s, Dawhares, Nick’s
Sports Bar, Maurice’s and many others. The current purchase price for the “Murray Mall” is $7
million dollars. Murray Rentals would have to finance the purchase with a fairly heft loan, but
the CEO believes that the income stream could help the company “break even” on the mortgage
for the first few years.
Director B
You serve on the board of directors for Murray Rentals, Inc. You previously received notice in
accordance with the bylaws that a board meeting was schedule for today at 12:30. You received
the following agenda in connection with the notice:
Agenda for Board Meeting
I. Quorum
II. Approval of Past Board Minutes
III. Nominating Committee Report
Director C
You serve on the board of directors for Murray Rentals, Inc. You previously received notice in
accordance with the bylaws that a board meeting was schedule for today at 12:30. You received
the following agenda in connection with the notice:
Agenda for Board Meeting
I. Quorum
II. Approval of Past Board Minutes
III. Nominating Committee Report
IV. Audit Committee Report
V. Current Operations Reports
Ch 4, Instructor’s Manual, Business & Society, Carroll 10e
Director D
You serve on the board of directors for Murray Rentals, Inc. You previously received notice in
accordance with the bylaws that a board meeting was schedule for today at 12:30. You received
the following agenda in connection with the notice:
Agenda for Board Meeting
I. Quorum
II. Approval of Past Board Minutes
III. Nominating Committee Report
IV. Audit Committee Report
V. Current Operations Reports
VI. Acquisition of New Properties
You ask appropriate questions when necessary and aim to fulfill your fiduciary duties as a
director.
You are aware that the CEO would like to see Murray Rentals extend its property holdings to
include the property called “Murray Mall” by the locals. This property is currently leased by the
You are concerned that the CEO’s projections on the revenue stream from the tenants are not
accurate. Furthermore, many of the tenants have one-year leases with the option to renew for an
Director E
You serve on the board of directors for Murray Rentals, Inc. You previously received notice in
accordance with the bylaws that a board meeting was schedule for today at 12:30. You received
the following agenda in connection with the notice:
Agenda for Board Meeting
Ch 4, Instructor’s Manual, Business & Society, Carroll 10e
I. Quorum
You ask appropriate questions when necessary and aim to fulfill your fiduciary duties as a
director.
You are aware that your spouse, the CEO, would like to see Murray Rentals extend its property
holdings to include the property called “Murray Mall” by the locals. This property is currently
Director F
You serve on the board of directors for Murray Rentals, Inc. You previously received notice in
accordance with the bylaws that a board meeting was schedule for today at 12:30. You received
the following agenda in connection with the notice:
Agenda for Board Meeting
I. Quorum
II. Approval of Past Board Minutes
III. Nominating Committee Report
Director G
You serve on the board of directors for Murray Rentals, Inc. You previously received notice in
accordance with the bylaws that a board meeting was schedule for today at 12:30. You received
the following agenda in connection with the notice:
Ch 4, Instructor’s Manual, Business & Society, Carroll 10e
Agenda for Board Meeting
I. Quorum
II. Approval of Past Board Minutes
Senior Vice President of Operations
You are the Senior Vice President of Operations for Murray Rentals, Inc. Murray Rentals, Inc. is
a new, privately-held company that owns and operates buildings for commercial lease and
apartments and homes for residential lease in western Kentucky. The residential leases range
from executive home rentals on two major lakes to college apartments, including one of the
largest collegiate rentals, Racer Place.
The CEO has asked you to attend a board meeting which is scheduled for today at 12:30. You
received the following agenda for the meeting:
Agenda for Board Meeting
I. Quorum
II. Approval of Past Board Minutes
III. Nominating Committee Report
IV. Audit Committee Report