Posted on 10/05/2006 7:33:14 PM PDT by groanup
Google to Offer Annual Bonuses of Up to $3 Million (Update1)
By Jonathan Thaw
Oct. 5 (-- Google Inc., the most-used Internet search engine, will give cash bonuses of up to $3 million to executives that are linked to annual sales and profit goals.
The bonuses will be available to all executives excluding Chief Executive Officer Eric Schmidt and Presidents Larry Page and Sergey Brin, Google said today in a filing with the U.S. Securities and Exchange Commission.
The cash bonuses come as Google's stock price stalls. Shares of the Mountain View, California-based company are little changed this year after more than doubling in 2005. The company said bonuses will be linked to the performance of each individual as well as the company's overall financial performance.
The plan is ``designed to motivate participants to achieve our financial and other performance objectives, and to reward them when those objectives are met,'' Google said in the filing.
Shares of Google fell $3.89 to $411.81 at 4 p.m. New York time in Nasdaq Stock Market composite trading.
Executives participating in the plan will need to be approved by the board of directors, Google said. No one is automatically entitled to receive bonuses, the company said.
Google spokesman Jon Murchinson didn't return a call seeking comment.
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I'm starting to like ask.com.
An incentive to executives for sales. I don't see any problems with that.
3 million? I don't care if they give them a billion but that is a number that suggests desperation.
If people don't like Google then don't use them. Don't click on sponsored ads, that's how they get paid.
Google is also achiving our searches. But, then, I guess all the others are too.
They are following in the time-honored tradition of Silicon Valley to treat their employees good and their stockholders bad.
I thought it was owned by Barry Diller.
Free market.
They prolly deserve it.
I've never known anyone that worked for a game company that was treated well. Maybe other companies in the computer biz behave differently.
I was trying to looking up images of Belinda Stronach for the threads about her last week, and Google Image search was just about coming up dry, when I know a lot of Stronach images are out there.
Of course that might have less to do with technical capabilities and more to do with the leanings of the people running the place. I hate to cast things in that light, but they did put Algore on their board, so I just put two and two together where it may make sense.....
I bought five shares of Google last year at $280. I recently sold four of them at about $410. This news just tells me that Google is not moving forward at superspeed any longer.
Also: a radio host that speaks on business and personal finance has said many times "Your best salesman should be your highest paid employee." Bruce Williams even suggested that this person might appropriately be paid more than the President/CEO.
A few of us around here use Dogpile. I like it - seems to work fine, except the Sponsored Links can be a bit annoying when doing a specific search. Probably comes with anyone's territory, though.
ping
You might like www.clusty.com. It even categorizes your search results for you. I think it pulls results in from all the other search engines, and there are no ads. I love it.
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