Google is about to become more evil

[Pliablemoose]

Google just put out an SEC filing saying founders Larry Page and Sergey Brin plan on dumping some of their holdings of the company's stock. When they finish selling 5 million shares apiece, they'll still own 15% of the outstanding shares, but their voting power will have dropped below 50%. So they are ceding absolute control of the company.
(Together with Eric Schmidt -- who owns ~10% of Google stock -- they retain control, however.)

http://www.businessinsider.com/goog...-plan-announce-plans-to-sell-off-stock-2010-1

 

[Miramonti]

Nice. Now they can do evil for the sake of profit and point the fingers elsewhere.

 

[Pliablemoose]

Schmidt has been running the show for a while, he's going to go to town now...

 

[destrekor]

excellent. Skynet is inevitable now. So excited, can't wait!

 

[Newbian]

I for one welcome our....

 

[sandorski]

Come with me if you want to live!

 

[frostedflakes]

So 5 million shares x $550/share = $2.75 billion each (before taxes and all that fun stuff, of course). Holy fuck.

Or is there something I'm missing?