From Bloomberg
Alphabet Inc. is forming a new holding company designed to finalize its evolution from Google, the web search giant, into a corporate parent with distinct arms that protects individual businesses in far-flung fields like health care and self-driving cars.It's some sort of Greco-Roman mish-mash:
The new entity, called XXVI Holdings Inc., will own the equity of each Alphabet company, including Google. The new structure legally separates Google from other units such as Waymo, its self-driving car business, and Verily, a medical device and health data firm.
Google co-founder Larry Page announced Alphabet two years ago to foster new businesses that operate independently from Google. Technically, however, those units, called the “Other Bets,” were still subsidiaries of Google. The new structure, unveiled Friday, lets the Other Bets become subsidiaries of Alphabet on the same legal footing as Google.
Google is also changing from a corporation to a limited liability company, or LLC. This won’t alter the way the business pays taxes, said Gina Weakley Johnson, an Alphabet spokeswoman. The switch is partly related to Google’s transformation from a listed public company into a business owned by a holding company. The change helps keep potential challenges in one business from spreading to another, according to Dana Hobart, a litigator with the Buchalter law firm in Los Angeles.....MORE
...XXVI, the name of the new holding entity, is the number of letters in the alphabet expressed in Roman numerals. The sums of the company’s two most recent share buybacks were both derived from math equations involving the number 26....
*Okay, the ETN's are pseudo-Roman numerals. Some of the symbols:
VIX; VXX; CVOL; VIIX; CDC; XXV; XIV; XMLV; VXDN; XVIX; VIXM, ad infinitum. (hey, that's Latin!)I suppose I should be thankful the GOOG didn't go with some weird Sino-Roman numerology thing.
888="fortune x3"=DCCCLXXXVIIITry typing that all day long: "Today DCCCLXXXVIII announced..."
Nope, not auspicious at all.
Not like 'fortun8'.
