Inheritance
When Tattersall's was founded, George Adams structured the company so the original workers' families would inherit the profits. This created so-called "Tattersall's heirs": subsequent generations inherited a share in the company's profits. This was sometimes thought of as being unfair seeing people inherited the profits of a multi-million dollar company (that benefited from a state-granted monopoly on much of its business) simply through birth. In 2005 the company decided to list on the Australian Stock Exchange "Tattersall's heirs" were now allowed to sell their stake in the company and for the first time the public could buy into it. After the listing on the stock exchange local newspapers and other news media listed the names of these "Heirs".
Read more about this topic: Tatts Group
Famous quotes containing the word inheritance:
“Every third year you shall bring out the full tithe of your produce for that year, and store it within your towns; the Levites, because they have no allotment or inheritance with you, as well as the resident aliens, the orphans, and the widows in your towns, may come and eat their fill so that the LORD your God may bless you in all the work that you undertake.”
—Bible: Hebrew, Deuteronomy 14:28,29.
“I call it our collective inheritance of isolation. We inherit isolation in the bones of our lives. It is passed on to us as sure as the shape of our noses and the length of our legs. When we are young, we are taught to keep to ourselves for reasons we may not yet understand. As we grow up we become the “men who never cry” and the “women who never complain.” We become another generation of people expected not to bother others with our problems.”
—Paula C. Lowe (20th century)
“Late in the afternoon we passed a man on the shore fishing with a long birch pole.... The characteristics and pursuits of various ages and races of men are always existing in epitome in every neighborhood. The pleasures of my earliest youth have become the inheritance of other men. This man is still a fisher, and belongs to an era in which I myself have lived.”
—Henry David Thoreau (1817–1862)