Saturday, June 25, 2011
Obama Attacks Silicon-valley - Shades of Microsoft - Shades of a Desperate President
By Nicholas Contompasis
Bill Gates in '90s learned the hard way, "Render onto Caesar," or watch your stock price freeze.
President Obama's ambitious goal of reaching one billion dollars in his campaign fund has forced him to attack the very supporters that put him into the White House.
The FTC's announcement on Thursday to officially go on a fishing trip into Google's dominance of the internet is very revealing.
"Desperate people do desperate things," so goes the saying. It appears that our President has lost his mojo in the fund raising business and is forced to prey on his loyal supporters by threatening government legal action against them.
Antitrust action against deep pocket corporations have long been a practice of Left leaning administrations and the Obama Administration is no different. This form of legalized extortion is despicable but to coin another old saying, "You can't fight city hall."
With Obama's popularity plummeting to new lows, this attack on Google seems to indicate that the President now sees himself as a one term President, and he plans to extort as much as he can from the country before he leaves office.
The indication that he now feels he is on his way out is good news for America but bad news for Google.
FTC launches Google antitrust inquiry
By JOELLE TESSLER
Federal regulators have begun a formal antitrust investigation into Google's business practices.
In a blog post Friday, the Internet search giant said it received notification from the Federal Trade Commission of the review on Thursday.
Google said "it's still unclear exactly what the FTC's concerns are."
But the inquiry is expected to focus in large part on whether Google abuses its dominance of Internet search to extend its influence into other lucrative online markets, such as mapping, comparison shopping and travel. Rivals complain that Google, which handles two out of every three Internet searches in the U.S., manipulates its results to steer users to its own sites and services and bury links to competitors.
The European Commission and the Texas attorney general have already opened investigations into whether Google uses its enormous clout as a major gateway to the Internet to stifle competition online. The Senate Judiciary Committee's antitrust subcommittee, too, is examining whether Google gives its own services favorable treatment in search results.
Google maintains that most of the accusations of anticompetitive behavior come not from users, who like its services, but from competitors that are not pleased with their search rankings. "Since the beginning, we have been guided by the idea that, if we focus on the user, all else will follow," the company said in its blog post.
"We make hundreds of changes to our algorithms every year to improve your search experience," it added. "Not every website can come out at the top of the page, or even appear on the first page of our search results."
In midday trading Friday, Google's stock fell $6.66 or 1.4 percent, to $473.56.