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Google's IPO Trading Defies Dutch Auction Logic?
TopShelf writes "Today's first-day trading gains for Google may not have just been the result of ambitious day-traders. This story from CBS Marketwatch alleges that Google deliberately set the $85 IPO price well below the true clearing price of their Dutch Auction, and issued fewer shares than expected, perhaps with the intent of limiting supply and assuring themselves a nice runup during the first trading day. In the story's informal survey, winning bidders only received 75% of the shares they should have."
I think the slashdot crowd is high on IBM right now, and IBM == big public corporation. Actions speak louder then words, and IBM has been speaking through actions. Google has too, and if they continue to do so as a public company, then they will still be considered a good company.
I know folks in Canada and they have such a hard time seeing doctors when they need them. If I wake up tomorrow morning and feel sick I'll go to the doctor without giving it a second thought and if all is well, be in work by 10:30. From what I hear, you can't quite do that in Canada. Regardless, it's motivation for people to get a job, and more importantly, to keep the job. I like Canada alot, in particular Toronto, but I disagree with government hand outs like this. Government should govern, I don't wanna pay taxes for bums and other low lifes too lazy to get a job.
Regards,
Steve