Google’s Stock Split Surprise
ABC News:
A controversial stock split by Google will allow Sergey Brin and Larry Page lifetime control of the company they founded 16 years ago. Google announced a two for one stock split, which creates a new class of nonvoting shares. Investors would receive one share of the nonvoting stock for each share they now own. [Not as a replacement; a new share.] The split will cut the price of each share in half. The creation of such a large block of nonvoting shares is believed to be a first for a big U.S. publicly traded company. Some investors may be unhappy about the change. The move came as Google announced a 61 percent jump in first quarter profits.
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"Google’s Stock Split Surprise"
