Maintaining Optimism in the Face of Reality. Occasional observations on the state of the world, society, business and politics. Usually anchored by facts, always augmented by opinion.
The company motto is: "Don't be evil".Darn evil, indeed. ISS identified 21 weaknesses in their governance practices including their dual-class share structure and general insider power, about which I recently wrote at length.
However, ISS assigned Google a "corporate governance quotient" of 0.2 out of a possible 100, close to zero and lower than any other S&P 500 company.
"I'd say those numbers sound pretty darn evil," said Patrick McGurn, senior vice-president at ISS.
Of course, the same day as ISS releases this, the stock continues to creep up. Clearly The Register was correct in writing that the ISS review was "a little unfair, we think, as it places too little emphasis on what shareholders really want, which is apparently an abundance of pictures of pretty colored balls on the corporate web site, and a rating that evaluates the general cuteness of the founders."
e-mail post | Link Cosmos | [Permalink] | | Monday, August 23, 2004