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Google Won’t Split Shares Anytime Soon
The first shareholder meeting featured SnickerGoogle cookies and remarkably sparse attendance.
Fewer than 200 people showed up at the Googleplex, the nickname for the search engine company's Mountain View, California headquarters.
The company's founders and its CEO spent about 90 minutes discussing all things Google and taking questions from attendees. One topic shareholders raised for discussion was the possibility of a stock split.
"We have discussed this question and we have decided not to do it at this time," said Eric Schmidt, the company's chief executive officer. Co-founder Sergey Brin confirmed that opinion as well.
Shares of Google closed at $228.72 yesterday, well up from the initial price of $85. With a smaller than expected attendance, the most exciting aspect of the meeting was the menu. Prepared by company chef Charlie Ayers, shareholders dined on roasted chicken, steamed organic broccoli, pasta, fruit, and the aforementioned SnickerGoogle cookies.
Companies rarely treat shareholders to a meal at these types of meetings. But that was the only departure from usual meeting conventions, and that was a bit of a disappointment for some attendees, who expected something a little different from Google.
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David Utter
