Wednesday, May 05, 2004
In search for a permanent home for my rants, I've decided to go with Google. I do this primarily to salute them for bucking the status quo when it comes to dealing with Wall Street. While it's not clear to me whether their choices are actually going to be best for business, and while at first glance it appears that they are hiding more information from the public than other companies, I'm willing to trust them. Why? Well, companies like Enron and Tyco played by the rules of disclosure, and had traditional voting-rights structures, and it didn't stop them from lying. In fact, it appears that a great deal of their fanciful bookkeeping was driven by their disclosure policies, and the expectations of their public. Google has made it quite clear that what's most important to Google is Google. They're not interested in having institutional investors tell them how to run a business, they're not interested in playing the good news/bad news day-trader game, and they're not even interested in the normal IPO cronyism that enriches already wealthy investors who are able to buy at the tender price and then flip the stock on the same day. So Google, I salute you, and I choose you to host my blog. Stay tuned for a rant on Disney, Jeb Bush, and Michael Moore.
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