Being Evil Is Now OK

Google shares have been getting spanked ever since the founders’ plan to withdraw voting rights for, well, anybody other than the founders (and Schmidt) was revealed.

This kind of dual-class strategy was common until it was outlawed in the 1920s. It was permitted again after 1986, but is generally regarded as evil. So much for “Don’t be evil.” Coincidentally, Google was also fined for obstructing a federal investigation. $25,000 – wooee. I guess the founders figure the company has become big enough that it is able to do whatever they want.

Common shareholders have not been given any opportunity to resist the taking of their rights other than to cease being shareholders. Which option, it seems, is being exercised by more than a few of them.

Post a comment or leave a trackback: Trackback URL.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: