Grown-up Google open to scrutiny, says CFO

Posted by admin in IT & The CFO on Tue, 02/03/2010 - 11:10
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Google is a grown up company and that means it's open to scrutiny, argues its CFO Patrick Pichette. "With success and being large you attract scrutiny," Pichette told the Morgan Stanley Technology, Media and Telecom Conference in San Francisco. "It's part of growing up and you need to participate in it by being proactive.”
 
“The mood at Google kind of continues to be electric," he added. "It's true there is a recession out there, but for the broad data world, everything that's the data space, there's really no recession. It's been a great time for us in the last 12 months, 18 months."

In the fourth quarter of 2009, Pichette said, Google saw "people showing up back online," adding that the company even saw an increase in interest in advertising for luxury items. “There was a massive amount of advertising with heavy discounts," Pichette said. 

The Bottom Line:If Mr Cable has his way...

"If Mr Cable had his way, all the big banks would be broken up and bonuses would be virtually eliminated - a sure-fire way in my view of guaranteeing an end to the UK’s ability to compete as an international financial centre. Let’s not forget that this is a man who is on record as saying that everyone who works in a bank has an ‘aristocratic lifestyle’ clearly demonstrating his lack of understanding of the sector." A tough line on bankers’ bonuses could make a brain drain of financial talent a distinct possibility, warns Paul Marsden. Read more

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