garyp
08-06-2004, 10:58 AM
A rather negative look at the Google IPO from the "shareholder democracy" angle.
Invitation-only briefing excludes small investors
San Jose Mercury News
http://www.mercurynews.com/mld/mercurynews/business/9334404.htm
Google's quixotic and confused attempt at shareholder democracy stopped short Thursday afternoon at the elegant doors of the Veranda Ballroom in San Francisco's Four Seasons Hotel.
An audience of about 100 fat cats were treated to an invitation-only ``road show'' briefing by Google co-founders Sergey Brin and Larry Page, who described in person the Mountain View company's impending initial public stock offering.
I hoped it would be different this time around, because Brin and Page have made self-important statements about opening up the system.
``It is important to us to have a fair process for our IPO that is inclusive of both small and large investors,'' the pair wrote in a letter to investors, included in Google's filings with the Securities and Exchange Commission.
Invitation-only briefing excludes small investors
San Jose Mercury News
http://www.mercurynews.com/mld/mercurynews/business/9334404.htm
Google's quixotic and confused attempt at shareholder democracy stopped short Thursday afternoon at the elegant doors of the Veranda Ballroom in San Francisco's Four Seasons Hotel.
An audience of about 100 fat cats were treated to an invitation-only ``road show'' briefing by Google co-founders Sergey Brin and Larry Page, who described in person the Mountain View company's impending initial public stock offering.
I hoped it would be different this time around, because Brin and Page have made self-important statements about opening up the system.
``It is important to us to have a fair process for our IPO that is inclusive of both small and large investors,'' the pair wrote in a letter to investors, included in Google's filings with the Securities and Exchange Commission.