Msg#: 4329964 posted 2:36 pm on Jun 23, 2011 (gmt 0)
Google’s Page, Schmidt Face Senate Subpoena Threats
Google Inc. (GOOG)’s reluctance to provide a top executive for testimony to a Senate panel probing its market power has prompted threats of subpoenas for Chief Executive Officer Larry Page and Chairman Eric Schmidt.
In a letter dated June 10, the Democratic chairman and leading Republican on the antitrust subcommittee asked Google to provide one of the company’s two senior executives before Congress’s August recess. The letter urged a resolution “by agreement” to avoid “more formal procedures,” according to a copy of the letter obtained by Bloomberg News.
Msg#: 4329964 posted 4:59 pm on Jun 23, 2011 (gmt 0)
Add this to the investigation by the European Commission, Oracle suing for several billion dollars and the Panda fiasco and it's no wonder sales of headache tablets have gone up at the Plex. Yahoo's having problems too with a tumbling share price. It doesn't pay to take anything for granted on the Web.
The Wall Street Journal reports that Google has agreed to send Eric Schmidt to testify before the Senate antitrust subcommittee, rather than face subpoenas of Schmidt, Page and/or Brin to appear.
Google to Send Schmidt to Hill
WASHINGTON—Google Inc.'s chairman, Eric Schmidt, will testify before the Senate antitrust subcommittee in September to answer questions about the company's growing dominance of the Internet. [online.wsj.com ]
Seems that the best minds of the Google legal department, together with the consensus of the many lobbyists now on retainer with Google, have prevailed: "Boys, you really don't want to play this game". And, Schmidt is being offered up as the sacrificial lamb. I am really hoping that the hearings in September will be broadcast live.