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Eric Schmidt To Sell Up To 42% of Stake In Google

Posted by timothy on from the that's-a-lot-of-google dept.

derGoldstein writes "AllThingsD reports that Eric Schmidt 'plans to sell up to 3.2 million shares of his class A common stock in the company,' according to an SEC filing. 'The amount is equal to approximately 42.1 percent of his overall stake in Google.'"

4 of 183 comments (clear)

  1. Time to haul the red herrings by G3ckoG33k · · Score: 4, Insightful

    I doubt this has anything to do with any bad news
    for Google. It is my guess Schmidt just wants the
    money here and now. Totally understandable.

    1. Re:Time to haul the red herrings by Anonymous Coward · · Score: 3, Insightful

      Did you do the math? If it sold at the current share price, that's over $2,500,000,000.00. I don't think I'd worry about interest with that kind of scratch. Even at 0% that's enough money for 500 people to live well for a lifetime. Stock can't normally be used to buy stuff.

  2. Re:Capitalism is failing by lucm · · Score: 3, Insightful

    > Increasing wealth at one pole, increasing misery at the other.

    This has nothing to do with capitalism. This has to do with the government raising taxes aimed at the middle class since the rich can move and the poor can't pay. Decade after decade the middle class shrinks while prices go up, taxes go up and the government becomes like a pimp managing tired older whores.

    When both political parties give the government's ATM card to lobbies and spend trillions on what they think will get them elected again it appears that there is no hope.

    There is only one solution: become rich or become poor.

    --
    lucm, indeed.
  3. Re:Capitalism is failing by morcego · · Score: 4, Insightful

    Yes, because there's no poverty or starvation in Marxist countries at all right?

    Nah. It is just that in Marxism, everyone is equally poor.

    --
    morcego