05 November 2005

Corporate feet of clay

From The Independent (here):
"The two founders of Google, whose corporate slogan is "do no evil", have made the ultimate acquisition for chief executives. They have bought a corporate jet - but it is a bit bigger than most.
Sergey Brin and Larry Page, both 32, splashed some of the $22bn (£11bn) fortune they made by creating the world's largest internet search engine on a Boeing 767 airliner.
The ostentatious purchase appears to be a departure for the two Stanford University computer science graduates who have mainly shunned the trappings of wealth common among American chief executives.
The muti-billionaires both drive environmentally friendly Toyota Prius cars and, when asked on the television programme 60 Minutes after Google's flotation last summer, Mr Brin said he had spent some of his financial windfall on a T-shirt.
The plane, which cost up to $15m, carried 180 passengers in its days as a transatlantic carrier, but is being refitted according to the men's specifications.
They want two "state rooms", with adjoining lavatories and a shower. There will also be a large sitting and dining area and, at the back, up to 16 first-class seats for guests or employees. A request for onboard internet access has also been made."

Sell your shares! The next thing will be a fancy corporate HQ. As soon as the bosses become more interested in management accoutrements, performance is bound to nosedive.

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