Originally Posted by macinthe408
Why doesn't Carl Icahn (or someone like him) show up at Google shareholder meetings asking about this boondoggle, funded by shareholder money?
Apple puts Dyson hand dryers in their restrooms and people ask, "Why?!"
Largely because Carl Icahn can buy Apple shares, and then force propositions and vote on them.
Since Larry and Sergey have well over 50% of Googles voting shares, nobody can meaningfully propose anything. Carl could buy billions, start a whole movement, and get every single Google shareholder (including Eric Schmidt) on his side, and have every single one demand Larry resign.....
Larry & Sergey vote: No.
Well that settles that.
Their ownership percentage got dilluted over the years as they gave out stock options. Their recent stock split was largely designed to counteract that. They split the shares value, but created the new shares as a class of stock than has no voting rights.
All in favor of that proposal:
Larry & Sergey: Aye!
That settled that :p
If you like to be an activist investor or invest in companies that are prone to Icahns and Greenlight capital type firms, Google is not for you.
If you don't mind your only 'vote' being to buy or sell shares and let the company leadership run the company, there are quite a few firms that took the Google structure into their foundation.
There are merits to either system