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 - Tractor Profile: Farmall M - by Staff. H so that mountable implements were interchaneable. The Farmall M was most popular with large-acreage row-crop farmers. It was powered by either a high-compression gas engine or a distillate version with lower compression. Options included the Lift-All hydraulic system, a belt pulley, PTO, rubber tires, starter, lights and a swinging drawbar. It could be ordered in the high-crop, wide-front or tricycle configurations. The high-crop version was called a Model MV.
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