The Washington Post highlights an unusual problem for Google – it has too much money!
Companies whose securities make up more than 40 percent of their assets can fall under restrictions that govern the mutual fund industry. So Google, which has increased its cash and securities to almost $10 billion since its 2004 initial public offering, asked the Securities and Exchange Commission late last month for an exemption.
Google hopes to get an exemption, similar to the one Microsoft acheived in 1988.