On Thursday, Donald Trump will walk into the Great Hall of the People in Beijing, shake Xi Jinping's hand, and declare it a great meeting. There will be announcements. There will be numbers — billions of dollars in Chinese purchase commitments, a new bilateral mechanism with an important-sounding name, possibly a joint statement on Iran. Trump will post on Truth Social. Markets will rally briefly. Pundits will argue about who won. None of that will tell you what actually happened. What is actually happening in Beijing this week is something more consequential and more uncomfortable than the summit theatre will reveal: two leaders of two deeply mutually dependent superpowers, both of whom need this meeting to succeed for entirely different reasons, sitting across a table in a world that has already moved past the assumptions that defined their last nine months of negotiations. The Iran war changed the equations. The rare earth gambit changed the power balance. Taiwan is sitting in...
Facebook Inc. took steps to solidify the control of founder Mark Zuckerberg and other existing shareholders in the event the social-networking company goes public. Facebook said Tuesday that this should not be seen as a signal that the company is going public at this time. FB has announced that eventually they will go public. But as of now the thing that has been done is the solidifying of key share holder stock. So Facebook will convert existing stock holders to Class B which has ten times the voting power of class A stocks.
It said it is introducing the structure "because existing shareholders wanted to maintain control over voting on certain issues" and "focus on the long-term."
So when the company eventually goes public and existing investors hold onto their shares the dual-class structure would enhance their control and fend of unwanted suitors. Giving the key share holders more control. This was the same thing followed by google before they went public.
It said it is introducing the structure "because existing shareholders wanted to maintain control over voting on certain issues" and "focus on the long-term."
So when the company eventually goes public and existing investors hold onto their shares the dual-class structure would enhance their control and fend of unwanted suitors. Giving the key share holders more control. This was the same thing followed by google before they went public.
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