Anyone can do it. The basis of civil society. Madison in Fed #10 expressed that interests groups are inevitable, but. in his eyes, troubling aspect of any free society. He mainly feared what. he referred to as âtyranny of the majorityâ, whereby large groups would. invade the rights of the minority. While his fear may have been that the. poor would overpower the wealthy in a democracy, today we may have. a situation where well entrenched minorities exert greater influence.
The hammer price at auction is the price the auctioneer announces at the time the hammer falls. For instance, âSold! for $1,000 to buyer number 621.â In this case, the hammer price is $1,000. The National Auctioneers Association defines the hammer price as follows:
So in 1986 he settled for the next best thing, a partnership with Church & Dwight that netted Oxy Pete a sizable chunk of C&D stock and Hammer a seat on C&Dâs board. For a time, then, Armand Hammer was a director and owner (if not THE owner) of Arm & Hammer. Occidental sold the stock shortly after Hammerâs death in 1990, apparently figuring a pun was not the best basis for a lasting business relationship.