Preferred stock gets preference on dividends (they get paid first, and often more or less promised they will always get a dividend).
In exchange, they normally don't have voting rights. It fits in somewhere between a bond and common stock.
Common Stock itself can have classes. The New York times has "A" and "B" stock -- I forget the exact details, but one class of stock basically controls 90% of the votes with only 10% of the equity and is owned by the Sulzberger family (the original owners). They say that's so they can make sure it remains a good source of news (*snicker*). The other stockholders with 90% of the equity can only vote only have 10% of the votes. Means the non-family stockholders can't do diddly about the Board of Directors, etc unless a substantial number of family members back them.
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Today's Featured Article - My Ford Golden Jubilee - by Troy Estes. This article is about my '53 Ford Jubilee and a story that starts with taking the tractor to my brother's Starter/Alternator Rebuilding shop for a wiring fix. The generator was shot as well as all the wiring. I dropped off the tractor expecting a transformation from a 6 volt to a 12 volt system utilizing the original generator housing, and a total rewiring of the whole tractor. The front end center pin bushing was worn also so I ask that they replace it if they had time. Well, that’s wha
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