Absentee ownership definition
Absentee ownership means that a company A has bought the stock of a company a1 and therefore owns a1 without having any expertise in the kind of operations conducted by a1. When the company A owns in this way many other companies it is called a holding company. A well-known illustration is provided by “Berkshire Hathaway”, the company owned by billionaire Waren Buffet. As of 2015 it owned 51 companies in a broad range of sectors: railroad, home furnishing, encyclope- dia, manufacturers of vacuum cleaners, jewelry, 22 regional newspapers and several regional electric and gas utilities.
Examples of Absentee ownership in a sentence
There’s no mystery, no place for the fish to hide." Absentee ownership leads to the "Portland attitude of ‘just catch the fish.’ A hired captain’s security is only as good as his productivity." Even some of the young people outside of Portland have adopted the Portland attitude and join in the fierce competition.