April 14, 2012

One share, one vote is a good principle

Felix Salmon: Google's evil stock split. "My key problem with the proposal is that it’s being pushed through without common shareholders being given the opportunity to object. I would be OK with it if it was being voted on a one-share, one-vote basis. But instead, Google's Troika has decided that having ten times the votes of any other shareholder isn't good enough for them, and that what they really want is a whole new class of shareholders — including new employees - who have no votes in the company at all."

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