a new company called alphabe. google one of the most widely held stocks by mutual funds, perhaps the most famous brand of all these days is creating a holding company with that name, alphabe in an effort to shake up the way the firm is organized. and the new holding company will include the business that google is best known for. search. the news which came after the close of trading sent shares higher initially in the after-hours session, as you see there. john ford is here with what this move means for the company and for shareholders who either own the stock directly or through etfs and funds. was this reorganization in any way rumored and what does i do? >> not rumored at all. had to do a double-take to make sure this was real. this company,indeed, called alphabet, within ital will it exist google inc. and that company has a new ceo. larry page, the former ceo of google is going to be the ceo of alphabet. the ceo of google is going to be a guy named sundar pichai, served as google's chief operating officer up

. >> here's the executive team for alphab alphabets. larry page will become the ceo. erik smic schmidt will be the executive chairman. >> larry page said, quote, we like the name alphabet because it means a collection of letters that represent language, an important innovation, and the core of how we index with google search. >> here is the website. the page only includes the statement announcing the company today. the address interestingly enough is abc.xyz. stay with abc 7 for much more on the story. we'll have more on abc 7 news at 5:00 and at 6:00. >>> now to the east bay and a frightening sight from sky 7 hd. a firefighter carrying a little girl away from a school bus on interstate 80 in berkeley after the bus full of children was involved in a multivehicle collision. >> reporter: it looked scary on interstate i-80. that school bus full of children. injuries were my nor despite the fact none of the children were wearing seat belts. it was a school bus loaded with kids aged 5-15 headed to a park in oakland as part of their summer day camp experience when the bus s

a new company called alphabe.gle one of the most widely held stocks by mutual funds, perhaps the most famous brand of

a new company called alphabe.oogle one of the most widely held stocks by mutual funds, perhaps the most famous brand of

beneath it, why seasonal the umbrella company called google and the experimental stuff called alp alphab calendar. you don't want to start with hotel st. regis, because it's the premier chain. and to the issue of the founders, for every one of those guise you come up with, howard shultz, michael dell, were examples -- >> what i'm driving at is google the name has such value intrinsically. >> but that's not changing with respect to the brands -- google inc. will hold maps, search --. not that google -- alphabet feels like -- >> it carries baggage, too. one of the things that google means to people is massive amounts of data about you, and you're not sure how it's being used. if you can take a business like nest, which is supposed to live in your home and split it off and say, no, this isn't google, this is nest, that could actually help them. >> it's like pay no attention to the man behind the curtain. >> and also to your point, if you're worried about privacy issues, cal do or other things they're passionate about extending life, you really don't want that. other than facebook or the wii