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Stock Split Could Cost Google Over $500 Million

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In this Dec. 12, 2013 file photo, Google co-founder Sergey Brin arrives for the Breakthrough Prize in Life Sciences awards in Moffett Field, Calif. Google may have to pay more than half a billion dollars for an unorthodox stock split aimed at ensuring co-founders Brin and Larry Page retain control over the Internet’s most profitable company. (AP Photo/Ben Margot, File)

In this Dec. 12, 2013 file photo, Google co-founder Sergey Brin arrives for the Breakthrough Prize in Life Sciences awards in Moffett Field, Calif. Google may have to pay more than half a billion dollars for an unorthodox stock split aimed at ensuring co-founders Brin and Larry Page retain control over the Internet’s most profitable company. (AP Photo/Ben Margot, File)

MICHAEL LIEDTKE, AP Technology Writer

SAN FRANCISCO (AP) — An unorthodox stock split designed to ensure Google CEO Larry Page and fellow co-founder Sergey Brin retain control of the Internet’s most profitable company could cost Google more than half a billion dollars.

Page, 42, and Brin, 41, have maintained control over Google since they started the company in a rented Silicon Valley garage in 1998. Their ideas and leadership have spawned one of the world’s best known and most powerful companies with a market value of $368 billion and a payroll of about 54,000 employees.

Yet many investors have become frustrated with Page’s unwavering belief that Google should be spending billions on far-flung projects ranging from driverless cars to diabetes-controlling contact lenses that may take years to pay off and have little to do with the company’s main business of search and digital advertising. The big spending is one reason Google’s stock price is 3 percent below where it stood at the end of 2013, while the Standard & Poor’s 500 index has climbed 12 percent.

To maintain the power to drive Google’s direction, Page and Brin initially accumulated virtually all of the company’s class “B” shares, which have 10 votes for each “A” share. The duo, though, worried that control would erode as Google issued more “A” shares to pay for acquisitions and reward other workers. A year ago Thursday, Google split its stock to create a new category of “C” stock with no voting power that would allow more Google shares to be issued without undercutting Page and Brin.

Class “A” shareholders were outraged, skewering the maneuver as a textbook example of shoddy corporate governance. Google argued there wouldn’t be much difference between the price of “C” and “A” shares because Page and Brin held majority control anyway with the “B” shares. To settle a class-action lawsuit challenging the split, Google agreed to compensate “C” shareholders if the average price of “C” stock fell more than 1 percent below “A” shares through the first year of trading.

Google’s theory proved wrong, said BGC Financial Partners Colin Gillis. The difference turned out to be between 1 percent and 2 percent through the first year, though the final gap won’t be announced for up to 30 days as Google works with outside experts to determine the figures under a complex formula.

“This shows the market does place a value on owning a voting stock,” he said.

Google disclosed in a recent regulatory filing that it would have owed about $593 million to class C stockholders had the calculations been done on Dec. 31. Based on that estimate, the class C stockholders would receive roughly $1.74 per share in cash or additional stock. The exact amount that Google owes will be calculated based on the average trading prices over the full one-year period that ended Thursday after the stock market closed.

The Mountain View, California, company has until early July to pay the money. It’s something that Google can easily afford, given the company holds $64 billion in cash. And the damage could have been a lot worse: Google would have had to pay $7.5 billion, or about $22 per share, had the first-year spread between “A” and “C” shares was 5 percent or more.

Class C shareholders should ask themselves if the money they are getting is enough to compensate for relinquishing their voting rights and ceding control to Page and Brin, said Charles Elson, director of the University of Delaware’s Weinberg center for corporate governance.

Shareholders “are getting this cash for giving up their say in effective management,” Elson said. “This could be a case of ‘penny wise, pound foolish.'”

Google declined to comment.

Copyright 2015 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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Gov. Gavin Newsom Signs Law Streamlining Affordable Housing Rules

The legislation builds on the governor’s efforts that have reversed decades of inaction on housing and homelessness — creating more homes and the largest reduction in unsheltered homelessness in more than 15 years.

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From left to right: Jesse Arreguín, Gov. Gavin Newsom, Sharon Quirk Silva, Oakland Mayor Barbara Lee, and Janelle Chan. Photo courtesy Sarah Henry.

In Oakland on July 13, Gov. Newsom signed AB 179 — the state’s new housing budget trailer bill that cuts red tape, modernizes how California finances affordable housing, and lowers the cost of building a unit by up to $70,000.

The legislation builds on the governor’s efforts that have reversed decades of inaction on housing and homelessness — creating more homes and the largest reduction in unsheltered homelessness in more than 15 years. 

Oakland is the first pro-housing city in the Bay Area, and it’s not slowing down. Oakland is cutting through bureaucracy, unlocking new financing, and clearing the path for more affordable homes to get built faster.

Special thanks to East Bay Asian Local Development Corporation (EBADC), State Assemblymember Sharon Quirk Silva, and California Housing and Community Development Director Gustavo Velasquez.

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Smart Home Technology is Becoming a Tool for Preventing Property Damage

BLACKPRESSUSA NEWSWIRE — Leak detectors, security systems, and connected alarms can warn owners before problems spread. See which smart home technology offers the greatest protection.

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Connected leak detectors, alarms, cameras, and climate controls can warn owners before a small problem spreads. The strongest protection comes from systems that can also act, especially water monitors that automatically stop a leak.

A hidden pipe leak can soak floors before anyone sees a drop. A failed furnace can freeze plumbing overnight. A forgotten appliance can create a fire risk while the owner is away.

Modern home technology changes how owners respond to household risks. The relationship between home and technology now centers on prevention instead of reaction. Connected systems can watch for moisture, smoke, carbon monoxide, unusual access, temperature shifts, and electrical hazards.

Early warnings create time to act. Automated responses add another layer of protection. Remote access also helps owners respond while traveling or working.

Owners who choose the right tools may limit property damage and protect the home’s long-term condition.

How Can Smart Home Technology Prevent Property Damage?

A smart home is a residence that uses internet-connected devices for remote monitoring and control. Smart systems can prevent damage through:

  • Detection
  • Notification
  • Automatic action

A central app or hub may connect:

  • Sensors
  • Locks
  • Alarms
  • Thermostats
  • Appliances

Leak sensors can warn owners about moisture near:

  • Sinks
  • Water heaters
  • Washing machines
  • Sump pumps

Advanced systems can also close the main water valve.

Fast action can keep one failed hose from destroying property across several rooms. Owners may receive an alert within seconds, even when they are away from home.

Which Smart Home Devices Offer the Greatest Protection?

Water protection often provides the greatest direct benefit because leaks can spread quietly.

Whole-home monitors and automatic shutoff valves can detect unusual water flow. Some systems can stop the water supply when nobody is present.

Other valuable smart devices for the home include:

  • Connected smoke and carbon monoxide alarms
  • Security cameras
  • Door sensors
  • Smart locks
  • Temperature monitors

Protection improves when a device can send an alert and trigger a useful response.

Water Protection Gives Owners the Fastest Response

Water-related issues often escalate quickly, making early detection and response critical for minimizing damage. Understanding how to monitor and control water risks sets the foundation for the strategies discussed in the following sections.

Place Leak Sensors Near Common Failure Points

Real-time alerts can help owners respond before water harms building materials or supports mold growth. Place moisture sensors near:

  • Dishwashers
  • Toilets
  • Washing machines
  • Water heaters
  • Sump pumps
  • Sinks

Point sensors only cover nearby areas. Whole-home monitors track water flow or pressure throughout the property. Automatic shutoff systems offer stronger protection because they can stop continued leaking before an owner arrives.

A sensor provides a warning, while an automatic shutoff valve can directly limit the damage.

Monitor Freezing and Humidity Risks

A smartphone thermostat can warn an owner when indoor temperatures leave a safe range. Freeze alerts protect plumbing in:

  • Vacant homes
  • Rental properties
  • Seasonal residences

Humidity alerts may reveal an air-conditioning or ventilation failure before damp conditions support mold growth.

Connected Alarms Reduce Fire and Security Risks

Smart smoke and carbon monoxide alarms send warnings beyond the home. Remote alerts support faster action when nobody is present.

Some systems can:

  • Contact a monitoring service
  • Unlock doors for emergency responders
  • Shut down connected equipment
  • Turn on the lights during an emergency

Connected security systems combine:

  • Cameras
  • Motion sensors
  • Window alarms
  • Doorbells
  • Smart locks

Recorded footage may support a later insurance claim. Visible cameras and timed lighting may also discourage entry attempts.

Security technology cannot guarantee that a break-in will never happen. Early alerts can still help owners contact authorities, verify activity, and reduce the amount of time an intruder remains inside the property.

Build a System That Still Works During Failures

Dependable Wi-Fi is a starting point for connected devices. Owners should also plan for:

  • Outages
  • Weak signals
  • Dead batteries
  • Expired subscriptions
  • Failed software updates

A practical setup should include:

  • Local alarms, in addition to phone alerts
  • Battery or cellular backup, where available
  • Strong passwords and current firmware
  • Manual keys and water shutoff access
  • Updated emergency contact information

Unique passwords, regular updates, careful camera placement, and reputable products can reduce exposure.

Backup access also matters when a smart lock, mobile app, or network fails. Owners should always have a manual way to enter the property and control essential systems.

Frequently Asked Questions

Can Smart Devices Lower Home Insurance Costs?

Some insurers offer discounts, rebates, or credits for approved leak detectors, alarms, monitoring services, and automatic shutoff systems. Requirements vary by:

  • Insurer
  • State
  • Property type
  • Device certification

Owners should confirm eligibility before purchasing equipment.

A discount should remain a secondary benefit. Preventing a loss carries more value because avoiding a claim can:

  • Protect the home
  • Reduce disruption
  • Prevent an insurance deductible

Resources from Shieldly Premier Insurance Solutions may help owners consider prevention tools as part of a broader property protection plan.

How Should Rental Property Owners Use Smart Sensors?

Rental owners should focus on devices that protect units and reduce maintenance delays. Water sensors can alert property managers before leaks become major repairs.

Smart locks may create temporary access codes for maintenance teams. Thermostats can also flag unsafe temperatures between tenants.

Owners should disclose connected equipment, follow privacy laws, and limit cameras to lawful exterior locations. Indoor cameras should never be used to monitor private tenant spaces.

What Cybersecurity Steps Protect Smart Home Systems?

Owners should change default passwords and enable multifactor authentication. Firmware and mobile applications should receive regular updates. A separate Wi-Fi network for connected devices can add protection when the router supports it.

Access for former residents, contractors, and service providers should be removed promptly. Owners should also review:

  • Application permissions
  • Video storage settings
  • Data-sharing policies

A secure hub matters because one weak device may expose other connected systems.

Use Home Technology to Strengthen Everyday Protection

Effective home technology gives owners earlier warnings and greater control. Leak detectors, automatic shutoff valves, connected alarms, security sensors, smart outlets, and climate monitors can limit damage when installed in the right locations.

No device removes every risk. Strong protection still requires regular maintenance, safe habits, updated insurance coverage, and a clear emergency plan.

Explore our other guides and articles for practical news about protecting homes, managing risks, and making informed property decisions.



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Discover What IT Technicians Do: A Complete Guide

BLACKPRESSUSA NEWSWIRE — What do IT technicians do? Learn about their essential roles and responsibilities within businesses. Discover why they are irreplaceable!

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What do IT technicians do? IT technicians keep modern workplaces running by installing, maintaining, troubleshooting, and supporting the technology people rely on every day. They solve hardware, software, network, and security issues while helping organizations stay productive, connected, and protected from costly downtime.

A new employee sits down for their first day of work, only to find their laptop won’t connect to the company network. Minutes before an important client presentation, an IT technician diagnoses the issue, restores access, and keeps the day on track.

With an average of 317,700 openings projected each year in the field, IT technicians have become the behind-the-scenes problem solvers who help businesses, schools, healthcare facilities, and government organizations operate without interruption.

What Are the Main IT Technician Responsibilities?

IT technicians are responsible for keeping an organization’s technology systems operating efficiently and securely. Their work supports employees, customers, and business operations by ensuring computers, networks, software, and connected devices function as expected.

A large portion of the job involves responding to technical issues. When users experience problems, IT technicians investigate the cause and implement solutions. Quick response times can help reduce downtime and prevent disruptions that affect productivity.

IT technicians also install and configure new equipment. This may include:

  • Setting up computers for new employees
  • Deploying software updates
  • Connecting printers
  • Configuring mobile devices
  • Maintaining network equipment

As businesses adopt new technologies, technicians often help manage transitions and train users on unfamiliar systems.

Preventive maintenance is another important responsibility. Rather than waiting for problems to occur, technicians:

  • Monitor system performance
  • Install security patches
  • Perform backups
  • Identify potential risks

Troubleshooting Tips for IT Technicians

While technology issues can vary widely, following a consistent process often leads to faster and more accurate solutions. A structured approach also helps reduce guesswork and prevents small problems from becoming larger disruptions.

One of the most effective troubleshooting habits is gathering as much information as possible before making changes. Technicians should ask users detailed questions about:

  • Error messages
  • Recent updates
  • Unusual system behavior
  • When the issue first appeared

Accurate information can significantly narrow down potential causes.

It is also important to start with the simplest explanations. The following are often responsible for problems that initially appear complex:

  • Loose cables
  • Incorrect settings
  • Expired passwords
  • Outdated software
  • Accidental user changes
  • Device restart requirements
  • Misconfigured security settings

Checking these common causes first can save time and avoid unnecessary repairs.

Testing one solution at a time helps technicians identify what actually resolved the issue. Making multiple changes simultaneously can make it difficult to determine the root cause.

IT Technician Skills: Customer Service

Many people associate IT technicians with computers and networks, but customer service is a major part of the job. Technicians regularly assist users who may be frustrated, confused, or unable to complete important tasks because of technical problems. The ability to remain calm and professional while resolving issues can significantly improve the support experience.

Strong communication is among the essential IT skills technicians need because technical solutions are only effective if users understand them. Technicians often explain complex topics in simple language, provide step-by-step guidance, and answer questions from people with varying levels of technical knowledge. Clear communication helps build trust and reduces misunderstandings.

Customer service also involves active listening. Before a problem can be solved, technicians must gather accurate information about what the user is experiencing. Asking thoughtful questions and paying attention to details often helps identify the root cause more quickly.

Preparing For Challenges

IT technicians regularly face situations that require quick thinking, adaptability, and strong problem-solving abilities. Technology environments are constantly changing, and new software, devices, security risks, and user demands can introduce unexpected challenges. Preparing for these situations helps technicians respond more effectively when problems arise.

Continuous learning is one of the best ways to stay prepared. Many technicians invest time in training, certifications, industry publications, and hands-on practice to keep their skills current. Understanding emerging technologies can make it easier to support new systems and troubleshoot unfamiliar issues.

Time management is equally important. Technicians often juggle multiple support requests while handling urgent problems that require immediate attention. Prioritizing tasks based on business impact helps ensure critical issues are addressed quickly without neglecting routine responsibilities.

Preparation also involves developing a proactive mindset. The following can reduce the likelihood of major disruptions:

  • Regular system maintenance
  • Software updates
  • Security monitoring
  • Detailed documentation

Frequently Asked Questions

Can IT Technicians Work Remotely?

Many IT technicians can work remotely, particularly when the daily tasks of IT technicians focus on software support, user assistance, network monitoring, or cloud-based systems. Modern remote access tools allow technicians to diagnose problems, install updates, configure settings, and assist users without being physically present.

Some IT support roles still require on-site work, especially when the following are involved:

  • Hardware repairs
  • Equipment installations
  • Network cabling
  • Server maintenance
  • Physical security system support
  • Network switch configuration
  • Backup hardware installation

As a result, many organizations use hybrid support models where technicians split their time between remote assistance and in-person technical work.

What Are the Busiest Times of Year for IT Technicians?

The busiest times of year for IT technicians often depend on the organization. Major software updates, hardware refreshes, company growth initiatives, and cybersecurity projects can all create spikes in support requests.

Many technicians experience higher demand during the following periods:

  • New employee onboarding seasons
  • Back-to-school periods for educational institutions
  • Holiday shopping seasons for retailers
  • End-of-year system upgrades and audits
  • Large software or operating system rollouts
  • Office relocations and expansions
  • Tax season for financial organizations
  • Post-holiday equipment deployments

What Security Threats Do IT Technicians Deal With Most Often?

IT technicians regularly encounter security threats that can disrupt operations, compromise sensitive information, or create costly downtime for organizations. Their role often involves identifying risks early, responding to incidents, and helping users follow safe technology practices.

Some of the most common threats include:

  • Phishing emails
  • Ransomware attacks
  • Malware infections
  • Weak passwords
  • Unauthorized access attempts

Technicians also monitor for suspicious network activity and devices that fail to meet security standards.

Many security incidents begin with simple mistakes, such as clicking a malicious link or downloading an unsafe attachment. IT technicians often combine technical safeguards with user education to reduce risks.

What Do IT Technicians Do?

What do IT technicians do? They have a lot to manage in all parts of any tech operation, including troubleshooting and customer service.

Need more help planning your next step? Check out some of our other useful posts today.



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