Weekend Open Thread!
What Are You Up To?
Let us know what you're up to this weekend in the comment section below.
Google will do a 2 for 1 stock split this summer, but not for the usual reasons. It is being done so the founders keep tight control over the corporation that the number of shares they have wouldn't ordinarily give them.
Google splits stock; but for control reasons & not usual
As a stockholder I hate to see this kind of abuse practiced by company founders. They want investors money, but not to have any say in how the company is run.
The online search leader reported a 61 percent increase in its net income for the first three months of the year and announced plans to issue a new class of stock to shareholders. The new shares won't have any voting power and will help Google's senior leaders keep control years from now.
all current stockholders would get one share of the new Class C stock for each share they now own. This effectively splits Google's stock price in half.
Employees given Google stock in the future would get the non-voting stock, allowing voting power to remain with existing shareholders. The same would hold true for companies that Google buys using its stock.
Stock splits reduce prices for each share, allowing smaller investors to participate. Although Google said investors had been clamoring for one, the decision announced Thursday seemed driven more by a desire to retain control.
Without change, senior leaders would eventually lose their voting power. CEO Larry Page and fellow co-founder Sergey Brin said that would undermine "our aspirations for Google over the very long term."
Google, which is based in Mountain View, Calif., did not say when the stock split will occur. It first needs shareholder approval in June, though that's expected because Page, Brin and Executive Chairman Eric Schmidt have most of the voting power and support the plan.
When the split happens, the value of existing shares will be split into two, so half remains with the existing Class A shares and the remainder will be with the new Class C shares. Investors will have twice the number of shares than before, but the total value and voting power won't change. The new class of shares will get its own ticker symbol.
Count me in with Robert Cyran: theres something a little evil about the way that Google is splitting its stock, and in so doing creating a whole new class of non-voting shares.
Theres a long history of such things: they were outlawed in the 1920s, when they were commonly used by unscrupulous managers.
Dual-class voting shares were illegal for most of the 20th Century, but came back in 1986. James Sterngolds NYT story on their reintroduction is well worth a read, featuring as it does comments against the new rules from both Felix Rohatyn (The one-share, one-vote rule is pretty fundamental to the market) and T Boone Pickens (Lets face it, managements want this because they want to entrench themselves. They went to Congress to get protection and they didnt get it. So they went to the exchange to get protection, and they got it.)
Google has, now, clearly violated the spirit of the NYSE rules, if not their letter. It took 15 months for the independent directors on the board to be persuaded of this, in long and secret deliberations
| |EricthornIt only hurts when I laughPremium
Beta weekend Got both my WOW MoP and D3 beta invites within hours of each other. So much for getting anything productive done this weekend.
Facebook thinks CISPA law is a good idea and nothing to fear there, unlike the SOPA proposal.
Facebook thinks CISPA law is a good idea
The consensus from many who opposed SOPA is that CISPA is a good law that will help internet companies defend themselves against cyber threats without harming the customers privacy.
Facebook says not to worry. CISPA has the support of a range of tech companies, including Facebook, IBM, Intel, Verizon, and AT&T.
Today, Joel Kaplan, vice president of U.S. public policy for Facebook, wrote a post on Facebook telling people, in effect, not to worry. "More than 845 million people trust Facebook with their information, and maintaining that trust is at the core of everything we do," he wrote.
Kaplan wrote that while CISPA "would make it easier for Facebook and other companies to receive critical threat data from the U.S. government...[it] would impose no new obligations on us to share data with anyone -- and ensures that if we do share data about specific cyber threats, we are able to continue to safeguard our users' private information, just as we do today."
| |mr seanProfessional InfidelPremium,ExMod 2001-07
Re: Facebook thinks CISPA law is a good idea A warrantless search is still a warrantless search no matter how many tech companies think its a good idea.
said by backfeed:Hi there backfeed!
HAPPY WEEKEND !!!!!!!..
. and Hello to my Friend Jazz!!
Happy weekend to you and the Mrs too!
We're supposed to be getting some nice weather for the weekend, warm enough to sit outside. I hope you are getting nice weather too.
I'm defrosting some bison meat and were going to have buffalo burgers tomorrow! Yum!
Have a good one, my friend.
When fascism comes to America it will be wrapped in the flag and carrying a cross.
| |tubbynetreminds me of the danse russePremium,MVM
| going to be a relaxing weekend.|
i have my four year old son this weekend (and next, wahoo!). tomorrow will be some much needed father/son time. its supposed to rain here, so we'll probably end up spending the day running around at the park and splashing in puddles and eating a lunch packed in his 'angry birds' lunchbox.
here's to hoping everyone can find a way to 'get their feet wet' this weekend and enjoy the simple things in life.
"...if I in my north room dance naked, grotesquely before my mirror waving my shirt round my head and singing softly to myself..."
| |jkj860The Final Frontier
Re: FRIDAY Enjoy every minute of it!
HOA says AOK! FINALLY, just got approval from HOA to break ground on our new downstairs master bedroom addition for the MIL.
First thing they did was take down a huge pine in the way.
Concrete pour next.
Once framing starts our A/C guy can begin replacing our entire system and adding a separate heater/air handler and outside unit.
Re: HOA says AOK! HOA's are evil, run by people with Napoleon complexes, and should be declared illegal.
But congrats on the approval. Bet that took forever.
Re: HOA says AOK!
said by Attack Gypsy:Thanks,
HOA's are evil, run by people with Napoleon complexes, and should be declared illegal.
But congrats on the approval. Bet that took forever.
We have a pretty good HOA. The guy in charge of architectural review showed up at the meeting to support us. Then he called 8 days before formal approval to tell us to get started and the formal approval was on the way.
I used to live in this area in the '70s and the neighborhoods are unchanged due to the HOA since we have no zoning.
Without the HOA the guy next door could decide to start a salvage yard in his front lawn. LOL but true.
| |Noah VailSon made my AvatarPremiumReviews:
Matthew Lesko - (almost) Free (Chinese) Government Money
said by DCaller :
Lesko explained that he wanted to learn Chinese to keep his mind fresh but didnt want to spend oodles of money to do so.
said by DCaller :This vid is almost related.
Lesko discovered he could get Chinese language lessons "almost for free, almost for nothing," subsidized by the Chinese government.
"Call a government bureaucrat, man, they know where all the free stuff is," Lesko exclaimed.
"They have something called the Confucius Institute. There are like 700 of them around the world. There is one in the University of Maryland here. There is one at George Mason University. A hundred bucks, now it's like 120, 150 bucks - that's all it is. And it's wonderful."
The Dark Tower's Skynet evolves from 4chan.