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Google Reports Increased Profits
typobox43 writes "According to Yahoo! News, Google has reported increased profits compared to the year-ago numbers in its first quarterly earnings report as a publicly held company. Google's revenue figures more than doubled, leaping to $805.9 million from $393.9 million. Google shares closed today at $149.38."
Tune in tomorrow for the earnings reports from railroad and textile companies, and we'll discuss whether Amazon P/E ratio makes sense to hedge funds managers.
Thank you for being with Slashdot Finance. Buy LNUX!
99 percent of shareholders invest in a company for one reason and one reason only: to make money. They don't care about ethics, doing business in a friendly manner or the warm fuzzy glow inside that employees take home with them at the end of the day, they're only interested in the almighty dollar.
And, with the way that public companies have to operate by law in the US, that means doing whatever it takes: the boards of US companies are legally obliged to increase shareholder value as much as possible, and if that means no more Mr. Nice Guy, well, that's just tough for you, for me, and for anyone else that gets in the way of the bottom line.
Want to know the one way to keep a company from running into these sort of hassles? Stay privately owned rather than become a publicly traded company.
Of course, that means you can't properly compensate all the people (and venture capitalists, if any) that got you to where you are, and that presents its own set of problems including staff retention, but that's another story.
Bottom line: don't expect Google to be your best friend from mow till the day that you die.
"Accept that some days you are the pigeon, and some days you are the statue." - David Brent, Wernham Hogg
Yes, but part of the excellence of their product is that their ads don't piss us off. They realised you will put up with a few ads in order to get an excellent product and the day they sell out peoples private data or start bombarding us with pop-ups is the day we'll walk away.
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