If this were true, than you would be able to buy a share for $8. If
you could do this, then the shares would be listed for $8. Since the
shares are trading at $16, your point is not correct.

Not only that, but its a dual class share structure. This has to be so
because if those shares were the same class of shares, then you would
have shares in the same class with different voting rights. This is
absurd, and so the shares with more voting power must be a different
class of shares. Doubling the number of listed shares of the currently
listed share class would half the price, but not if the other shares
outstanding (which are equal in rights to the listed common, but which
have higher voting power) are another class of shares. Remember both
share classes have equal rights to the earnings and assets of the
company. its just that only one share class is listed, and the other
one has all the voting power. So while the value per share is constant
(business value divided by the total number of shares), the price in
the market does not have to reflect this fact. In this situation the
price in the market has not reflected this fact.

"My point is that dual share structure has both advantages and
disadvantages just like a single share structure. "

This does not necessitate that management will take a long term
outlook. It may not even be likely. A lot depends on how management is
compensated, and perhaps how business savy controlling shareholders
are. Like you said, you can have good or bad management in place, but
this means a dual share structure doesn't determine the quality of
management one way or another. If it does, you have not shown it.

I think majority ownership would be much better for bringing about
what is best for shareholders long term, but this could take place in
a single share structure, so there is no need for a dual share
structure to achieve this.

In any case, a single share structure will almost always be better
because if short term goals are being achieved at the expense of long
term value, then shareholders can
effect change. This could happen if someone bought majority ownership.
Without majority ownership, the vast majority (maybe 90%) of all
proxies fail.

Bottom line: a dual share structure is deceitful in this case, and
fairly useless.