>Are you suggesting that the WSJ is totally off base by drawing the conclusion that pressure from TCI, via this letter, is not the cause of the restructuring?
What a masterclass in logical fallacies.
The implication of the article is that generally investors think Google is too liberal on spending (anecdotally, I will tell you this sentiment is very real).
The WSJ used a specific and public example of someone putting that into writing, but if you think a non-Top 20 shareholder can convince Google to do something (that Google doesn't believe most of its shareholders want), then you really don't understand how corporate governance works.
Even the more aggressive well-known activists rely on the idea that they can convince more than 51% of shareholders to agree with them
Google is doing this because it thinks the majority of shareholders agree with it, otherwise they'd tell TCI to kick rocks (as often happens with activists, Google knows that no-one can actually buy enough shares to influence their management decisions, unlike some SMID caps.)
>Google is doing this because it thinks the majority of shareholders agree with it, otherwise they'd tell TCI to kick rocks (as often happens with activists, Google knows that no-one can actually buy enough shares to influence their management decisions, unlike some SMID caps.)
I'm glad we agree. That's almost precisely the argument I made throughout this entire thread.
What a masterclass in logical fallacies.
The implication of the article is that generally investors think Google is too liberal on spending (anecdotally, I will tell you this sentiment is very real).
The WSJ used a specific and public example of someone putting that into writing, but if you think a non-Top 20 shareholder can convince Google to do something (that Google doesn't believe most of its shareholders want), then you really don't understand how corporate governance works.
Even the more aggressive well-known activists rely on the idea that they can convince more than 51% of shareholders to agree with them
Google is doing this because it thinks the majority of shareholders agree with it, otherwise they'd tell TCI to kick rocks (as often happens with activists, Google knows that no-one can actually buy enough shares to influence their management decisions, unlike some SMID caps.)