Google as a Mutual Fund?
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Hmmm… This is interesting… Apparently Google, Inc. (GOOG) has amassed so much cash in its coffers that it’s currently at risk of being classified (and thus regulated) as a mutual fund. They have made an SEC filing to persuade the SEC that it is truly and “internet and new media business,” rather than existing primarily to make investments. So how much money does it take to get into this sort of trouble? Well, Google’s most recent quarterly balance sheet listed assets totaling $14.4 billion, including $4 billion in cash and $5.8 billion in marketable securities. The problem is that, under the Investment Company Act of 1940, a comany with more than 40% of is assets in certain security types is subkect to different rules when it comes to general operations, as well as disclosure.
[Source: Yahoo! Finance]
Published on August 26th, 2006 - Leave a Comment
Filed under: Miscellany
About the author: Nickel is the founder and editor-in-chief of this site. He's a thirty-something family man who has been writing about personal finance since 2005, and guess what? He's on Twitter!
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