[BUSINESS] Google co-founders to sell shares

Google co-founders to sell shares

Page and Brin founded Google 11 years ago while at university

Google co-founders Larry Page and Sergey Brin are selling 10 million of their shares, raising $5.5bn (£3.4bn) at today's prices.

The stock sale means they will no longer have majority control. Their 59% voting rights will be reduced to 48% when the sale is completed.

Shares will be sold over a period of five years to avoid hurting the stock price as much as possible.
"They are both as committed as ever to Google," a spokeswoman said.
"They are integrally involved in our day-to-day management and product strategy. The majority of their net worth remains with Google" she added.

The fact that the pair are ceding majority control is seen as more symbolic than practical. Mr Brin and Mr Page run Google together with the chief executive Eric Schmidt, who has 10% voting power.

from BBC NEWS.com

Comments

[BOOKS] Jennifer Egan : an Author

http://www.jenniferegan.com/

[My Opinion] TOYOTA

Toyota temporarily halts sales of eight models The carmaker took the unprecedented action because the vehicles' gas pedals can get stuck and cause unwanted acceleration. Toyota will also stop making the cars and trucks Monday. http://www.latimes.com/business/la-fi-toyota-sales27-2010jan27,0,5888108,full.story According to press reports, the German automobile company, Volkswagen is likely to take an opportunity which may conquer the automobile field. In the bottom line, TOYOTA company seems to be frustrated by the makeshift way of management. In my personal view, I feel so sorry and sad. Whatever else might be said, TOYOTA is the main company in terms of automobile business. Success comes and gone. I hope TOYOTA will be reformed by this bitter lesson.

[ENVIRONMENT] Big Food vw. Big Insurance

Big Food vs. Big Insurance By MICHAEL POLLANPublished: September 9, 2009 TO listen to President Obama’s speech on Wednesday night, or to just about anyone else in the health care debate, you would think that the biggest problem with health care in America is the system itself — perverse incentives, inefficiencies, unnecessary tests and procedures, lack of competition, and greed. No one disputes that the $2.3 trillion we devote to the health care industry is often spent unwisely, but the fact that the United States spends twice as much per person as most European countries on health care can be substantially explained, as a study released last month says, by our being fatter. Even the most efficient health care system that the administration could hope to devise would still confront a rising tide of chronic disease linked to diet. That’s why our success in bringing health care costs under control ultimately depends on whether Washington can summon the political will to take on ...

Trend News

Search This Blog