Google finally set a date for its stock split – it’s going to be April 2. However, as 2 for 1 splits go, this one is not normal. The split shares will be “Class C” shares with no voting rights. They will even trade under a different symbol. The Class C stock will trade under the current Google ticker symbol, GOOG, while the Class A shares will get the new ticker, GOOGL. Through this convoluted mechanism, the founders will retain total control of the company. Like the purchase of Motorola’s handset division, this may turn out to be not such a good idea.
