Show of 8-28-2004

  • Google News
    • Google Initial Price Wasn’t Really Dutch
      • Dutch Auction pricing should have set price for over $100
      • Google offered initial price at $85 and only release 75% of the stock
      • Initial price spiked to $109 first day (87 price to earnings ratio)
    • Google’s Governance is Weak
      • Institutional Shareholders Services ranking
      • Google lower than company in the S&P 500
      • Negatives include board practices and takeover defense
      • Dual class capital structure with unequal voting rights
      • Less than 2/3 of board members are considered independent
    • Googles Real Competition
      • No competition in search space
      • Real competition will be from portals (Yahoo, MSN, Amazon)