What is going on with Google GOOG?
The shares are down $16.42, almost 3%, at $571.26, in an otherwise up market, at slightly less than average volume, despite there being no one news item that would seem to pressure the shares,There are, however, some possible reasons. For one thing, Bloomberg’s Jeff Bliss and Sara Forden wrote this morning that the U.S. Federal Trade Commission is considering “a broad anti-trust- investigation into Google’s dominance of the Internet search industry,” citing industry sources.
The company also lost one of its execs today, Jonathan Rosenberg, who’d been with the company for about nine years.Yesterday, of course, was the day that Google’s Larry Page took over the CEO spot from Eric Schmidt. Some jitters, perhaps?
AllThingsD’s John Paczkowski writes today
that it looks like Page may be eliminating some of the middle management at the company:The main theme that seems to be emerging: An elimination of Google’s more centralized functional structure–where Rosenberg was one of several manager kingpins–to one in which the individual business units and their engineers, such as its most independent Android division, rule more autonomously.
via What’s Up With Google? – Tech Trader Daily – Barrons.com.
About admin